Trustmark Co. (NASDAQ:TRMK) Receives $38.67 Consensus Price Target from Analysts

Shares of Trustmark Co. (NASDAQ:TRMK) have been given an average rating of “Hold” by the six brokerages that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $38.67.

TRMK has been the topic of several recent analyst reports. Janney Montgomery Scott initiated coverage on shares of Trustmark in a report on Friday, January 24th. They issued a “buy” rating and a $42.00 price target on the stock. DA Davidson upped their price target on shares of Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Trustmark from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, February 3rd.

Institutional Trading of Trustmark

Large investors have recently modified their holdings of the company. Jones Financial Companies Lllp acquired a new stake in shares of Trustmark in the 4th quarter worth about $37,000. Lazard Asset Management LLC acquired a new stake in shares of Trustmark in the 4th quarter worth about $47,000. GoalVest Advisory LLC acquired a new stake in shares of Trustmark in the 3rd quarter worth about $63,000. Sterling Capital Management LLC increased its holdings in shares of Trustmark by 817.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,918 shares of the financial services provider’s stock worth $68,000 after acquiring an additional 1,709 shares during the period. Finally, KBC Group NV increased its holdings in shares of Trustmark by 43.0% in the 4th quarter. KBC Group NV now owns 3,163 shares of the financial services provider’s stock worth $112,000 after acquiring an additional 951 shares during the period. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Price Performance

Shares of TRMK stock opened at $34.54 on Monday. The company has a market capitalization of $2.10 billion, a PE ratio of 9.49 and a beta of 0.71. The firm has a fifty day simple moving average of $36.15 and a 200-day simple moving average of $35.39. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. Trustmark has a twelve month low of $25.24 and a twelve month high of $40.73.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.09. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. Equities research analysts anticipate that Trustmark will post 3.42 earnings per share for the current fiscal year.

Trustmark Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Friday, February 28th. This is a boost from Trustmark’s previous quarterly dividend of $0.23. Trustmark’s dividend payout ratio (DPR) is 26.37%.

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.