Analysts Set Trustmark Co. (NASDAQ:TRMK) Target Price at $35.20

Shares of Trustmark Co. (NASDAQ:TRMK) have earned a consensus rating of “Hold” from the five research firms that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $35.20.

A number of analysts have recently commented on TRMK shares. DA Davidson boosted their price objective on Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Truist Financial raised their price objective on shares of Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Hovde Group boosted their target price on shares of Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Finally, StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th.

Insider Buying and Selling

In other Trustmark news, Director Marcelo L. Eduardo sold 790 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total transaction of $28,353.10. Following the transaction, the director now directly owns 7,334 shares of the company’s stock, valued at $263,217.26. This represents a 9.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gerard R. Host sold 26,416 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $39.73, for a total value of $1,049,507.68. Following the completion of the sale, the director now directly owns 26,792 shares of the company’s stock, valued at $1,064,446.16. This represents a 49.65 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,206 shares of company stock valued at $1,347,991. Company insiders own 1.50% of the company’s stock.

Institutional Trading of Trustmark

Institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP lifted its position in Trustmark by 32.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,356,853 shares of the financial services provider’s stock worth $43,175,000 after acquiring an additional 333,390 shares during the last quarter. American Century Companies Inc. boosted its stake in Trustmark by 25.3% during the 2nd quarter. American Century Companies Inc. now owns 986,322 shares of the financial services provider’s stock valued at $29,629,000 after purchasing an additional 199,245 shares during the period. Hanson & Doremus Investment Management acquired a new stake in Trustmark in the 2nd quarter valued at approximately $4,199,000. Verition Fund Management LLC increased its position in Trustmark by 19.8% in the 3rd quarter. Verition Fund Management LLC now owns 778,312 shares of the financial services provider’s stock worth $24,766,000 after buying an additional 128,834 shares during the period. Finally, Earnest Partners LLC lifted its holdings in shares of Trustmark by 3.1% during the second quarter. Earnest Partners LLC now owns 3,442,019 shares of the financial services provider’s stock worth $103,398,000 after buying an additional 102,268 shares during the last quarter. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Trustmark Stock Performance

Shares of TRMK opened at $39.11 on Friday. Trustmark has a 52-week low of $22.11 and a 52-week high of $40.73. The firm has a market capitalization of $2.39 billion, a PE ratio of 11.82 and a beta of 0.72. The firm has a 50-day moving average price of $35.27 and a 200 day moving average price of $32.54. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. The business had revenue of $192.30 million for the quarter, compared to analyst estimates of $192.77 million. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. During the same quarter last year, the business earned $0.64 earnings per share. On average, sell-side analysts anticipate that Trustmark will post 2.94 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.92 annualized dividend and a dividend yield of 2.35%. Trustmark’s dividend payout ratio (DPR) is presently 27.79%.

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.