Trustmark Co. (NASDAQ:TRMK) Receives $35.20 Average Price Target from Brokerages

Shares of Trustmark Co. (NASDAQ:TRMK) have been assigned a consensus recommendation of “Hold” from the five analysts that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $35.20.

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

Trustmark Stock Up 1.8 %

Shares of TRMK stock opened at $39.97 on Friday. Trustmark has a 12 month low of $22.11 and a 12 month high of $40.73. The stock has a market cap of $2.44 billion, a P/E ratio of 12.08 and a beta of 0.72. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The company has a 50 day simple moving average of $34.59 and a two-hundred day simple moving average of $32.24.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.02. The firm had revenue of $192.30 million during the quarter, compared to analysts’ expectations of $192.77 million. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. During the same period in the prior year, the company posted $0.64 earnings per share. On average, research analysts expect that Trustmark will post 2.94 earnings per share for the current year.

Trustmark Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be given a dividend of $0.23 per share. The ex-dividend date is Friday, November 29th. This represents a $0.92 annualized dividend and a yield of 2.30%. Trustmark’s dividend payout ratio (DPR) is currently 27.79%.

Insider Buying and Selling at Trustmark

In other Trustmark news, Director Gerard R. Host sold 26,416 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $39.73, for a total transaction of $1,049,507.68. Following the completion of the transaction, the director now owns 26,792 shares in the company, valued at $1,064,446.16. This trade represents a 49.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 owns 7,334 shares of the company’s stock, valued at $263,217.26. This trade represents a 9.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,206 shares of company stock worth $1,347,991 over the last 90 days. 1.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Trustmark

Several institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in Trustmark by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,050,787 shares of the financial services provider’s stock worth $121,683,000 after buying an additional 64,334 shares during the period. Earnest Partners LLC increased its stake in Trustmark by 3.1% in the 2nd 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 period. State Street Corp increased its stake in Trustmark by 0.8% in the 3rd quarter. State Street Corp now owns 3,090,988 shares of the financial services provider’s stock worth $98,355,000 after buying an additional 24,450 shares during the period. Geode Capital Management LLC increased its stake in Trustmark by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,461,545 shares of the financial services provider’s stock worth $46,515,000 after buying an additional 15,627 shares during the period. Finally, Wellington Management Group LLP increased its stake in Trustmark by 32.6% in 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 buying an additional 333,390 shares during the period. Institutional investors own 67.64% of the company’s stock.

Trustmark Company Profile

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.