Analysts Set Trustmark Corporation (NASDAQ:TRMK) Price Target at $46.12

Shares of Trustmark Corporation (NASDAQ:TRMK) have received a consensus recommendation of “Hold” from the seven research firms that are presently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $46.1250.

A number of equities analysts recently issued reports on TRMK shares. DA Davidson increased their price target on shares of Trustmark from $46.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Wall Street Zen upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Sunday. Piper Sandler upped their price target on Trustmark from $45.50 to $47.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Finally, Weiss Ratings raised shares of Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, June 1st.

Trustmark Price Performance

TRMK stock opened at $48.12 on Monday. The firm’s 50-day moving average price is $46.29 and its two-hundred day moving average price is $44.43. Trustmark has a 12-month low of $36.33 and a 12-month high of $49.00. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 12.21 and a beta of 0.65. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11.

Trustmark (NASDAQ:TRMK) last posted its earnings results on Tuesday, July 28th. The financial services provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The company had revenue of $213.38 million during the quarter, compared to analyst estimates of $210.30 million. Trustmark had a net margin of 20.75% and a return on equity of 10.69%. Trustmark’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 earnings per share. As a group, equities analysts predict that Trustmark will post 3.93 earnings per share for the current year.

Trustmark Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, September 1st. Trustmark’s payout ratio is 25.38%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. lifted its stake in shares of Trustmark by 1,129.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 848 shares of the financial services provider’s stock valued at $33,000 after buying an additional 779 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Trustmark in the fourth quarter worth $36,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Trustmark by 452.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock worth $46,000 after buying an additional 1,022 shares in the last quarter. Global Retirement Partners LLC purchased a new position in Trustmark during the second quarter valued at $63,000. Finally, Kestra Advisory Services LLC purchased a new position in Trustmark during the fourth quarter valued at $55,000. Institutional investors own 67.64% of the company’s stock.

About Trustmark

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.