Trustmark Co. (NASDAQ:TRMK) Receives $40.60 Average PT from Analysts

Shares of Trustmark Co. (NASDAQ:TRMK) have been assigned an average recommendation of “Hold” from the five brokerages that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $40.60.

Several research firms have weighed in on TRMK. 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. DA Davidson boosted their price objective 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 raised their target price on Trustmark from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd.

Institutional Investors Weigh In On Trustmark

Several hedge funds have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp acquired a new stake in shares of Trustmark during the 4th quarter worth approximately $37,000. Lazard Asset Management LLC purchased a new stake in Trustmark during the fourth quarter worth $47,000. Sterling Capital Management LLC grew its position in Trustmark by 817.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,918 shares of the financial services provider’s stock valued at $68,000 after buying an additional 1,709 shares during the period. Mascagni Wealth Management Inc. purchased a new position in Trustmark in the fourth quarter valued at $82,000. Finally, KBC Group NV raised its position in shares of Trustmark by 43.0% in the fourth 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. 67.64% of the stock is owned by hedge funds and other institutional investors.

Trustmark Stock Performance

Shares of TRMK opened at $34.51 on Friday. Trustmark has a 12 month low of $25.41 and a 12 month high of $40.73. The stock has a fifty day moving average price of $35.97 and a 200-day moving average price of $35.62. 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 firm has a market cap of $2.10 billion, a PE ratio of 9.48 and a beta of 0.71.

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

Trustmark Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.78%. The ex-dividend date was 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%.

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.