Trustmark Co. (NASDAQ:TRMK) Receives $29.67 Consensus Target Price from Brokerages

Trustmark Co. (NASDAQ:TRMK) has been assigned an average rating of “Hold” from the four ratings firms that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $29.67.

A number of research firms recently weighed in on TRMK. Piper Sandler reaffirmed a “neutral” rating and set a $29.00 price objective on shares of Trustmark in a research report on Tuesday, March 26th. Truist Financial raised their price objective on Trustmark from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, April 1st. StockNews.com downgraded Trustmark from a “hold” rating to a “sell” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods increased their target price on Trustmark from $27.00 to $30.00 and gave the company a “market perform” rating in a research note on Friday, January 26th. Finally, TheStreet upgraded Trustmark from a “c+” rating to a “b” rating in a research note on Tuesday, January 23rd.

Trustmark Stock Down 1.6 %

Shares of NASDAQ:TRMK opened at $25.63 on Friday. Trustmark has a 52-week low of $18.96 and a 52-week high of $28.65. The firm has a market capitalization of $1.57 billion, a P/E ratio of 9.46 and a beta of 0.82. The stock has a 50 day moving average price of $26.78 and a 200-day moving average price of $25.26. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.85.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Trustmark had a return on equity of 10.77% and a net margin of 15.06%. The company had revenue of $189.85 million during the quarter, compared to analyst estimates of $187.63 million. During the same quarter last year, the company earned $0.68 EPS. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, equities research analysts anticipate that Trustmark will post 2.44 EPS for the current fiscal year.

Trustmark Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.23 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.59%. Trustmark’s dividend payout ratio (DPR) is currently 33.95%.

Hedge Funds Weigh In On Trustmark

A number of institutional investors and hedge funds have recently modified their holdings of TRMK. Advisor Group Holdings Inc. boosted its stake in shares of Trustmark by 5.7% in the 1st quarter. Advisor Group Holdings Inc. now owns 9,552 shares of the financial services provider’s stock worth $291,000 after buying an additional 514 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Trustmark by 33.0% in the 1st quarter. Raymond James & Associates now owns 23,785 shares of the financial services provider’s stock worth $723,000 after buying an additional 5,898 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Trustmark by 0.3% during the first quarter. Bank of New York Mellon Corp now owns 759,564 shares of the financial services provider’s stock valued at $23,081,000 after purchasing an additional 2,212 shares in the last quarter. Citigroup Inc. lifted its position in Trustmark by 8.4% during the first quarter. Citigroup Inc. now owns 54,402 shares of the financial services provider’s stock valued at $1,653,000 after purchasing an additional 4,218 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in Trustmark by 53.5% during the first quarter. MetLife Investment Management LLC now owns 33,194 shares of the financial services provider’s stock valued at $1,009,000 after purchasing an additional 11,567 shares in the last quarter. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

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.