Trustmark Co. (NASDAQ:TRMK) Given Average Rating of “Hold” by Brokerages

Shares of Trustmark Co. (NASDAQ:TRMK) have been assigned an average recommendation of “Hold” from the six ratings firms that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $38.67.

TRMK has been the topic of a number of research reports. Truist Financial upped their target price on shares of Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Hovde Group upped their target price on shares of Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods upped their target price on shares of Trustmark from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Janney Montgomery Scott initiated coverage on shares of Trustmark in a research report on Friday, January 24th. They set a “buy” rating and a $42.00 target price on the stock. Finally, DA Davidson upped their target price on shares of Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th.

Insider Buying and Selling

In other Trustmark news, Director Gerard R. Host sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $38.59, for a total value of $270,130.00. Following the completion of the sale, the director now owns 16,500 shares of the company’s stock, valued at approximately $636,735. This represents a 29.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Trustmark

Several large investors have recently bought and sold shares of TRMK. Wellington Management Group LLP increased its stake in Trustmark by 32.6% in the third quarter. Wellington Management Group LLP now owns 1,356,853 shares of the financial services provider’s stock valued at $43,175,000 after purchasing an additional 333,390 shares in the last quarter. Verition Fund Management LLC increased its stake in Trustmark by 19.8% in the third quarter. Verition Fund Management LLC now owns 778,312 shares of the financial services provider’s stock valued at $24,766,000 after purchasing an additional 128,834 shares in the last quarter. Edgestream Partners L.P. bought a new stake in Trustmark in the fourth quarter valued at approximately $2,652,000. Barclays PLC increased its stake in Trustmark by 124.7% in the third quarter. Barclays PLC now owns 125,743 shares of the financial services provider’s stock valued at $4,001,000 after purchasing an additional 69,779 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in Trustmark by 134.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 112,831 shares of the financial services provider’s stock valued at $3,991,000 after purchasing an additional 64,766 shares in the last quarter. Institutional investors own 67.64% of the company’s stock.

Trustmark Price Performance

NASDAQ:TRMK opened at $37.86 on Thursday. The firm has a market cap of $2.32 billion, a PE ratio of 10.40 and a beta of 0.76. Trustmark has a 12 month low of $25.24 and a 12 month high of $40.73. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The company’s 50-day moving average price is $36.29 and its two-hundred day moving average price is $34.82.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. On average, equities analysts anticipate that Trustmark will post 3.4 EPS for the current fiscal year.

Trustmark Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.54%. This is an increase from Trustmark’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, February 28th. Trustmark’s payout ratio is 25.27%.

About Trustmark

Trustmark Corporation operates as the bank holding company for Trustmark National Bank that provides banking and other financial solutions to individuals and corporate institutions in the United States. The company operates through three segments: General Banking, Wealth Management, and Insurance. It offers checking, savings, and money market accounts; certificates of deposits and individual retirement accounts; financing for commercial and industrial projects, income-producing commercial real estate, owner-occupied real estate, and construction and land development; and installment and real estate loans, and lines of credit, as well as treasury management services.