Trustmark Corporation (NASDAQ:TRMK) Stock Has Consensus Target Price of $47.38 According to Analysts

Shares of Trustmark Corporation (NASDAQ:TRMK) have been assigned an average rating of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $47.38.

Several analysts recently issued reports on TRMK shares. Wall Street Zen upgraded Trustmark from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Piper Sandler lifted their target price on Trustmark from $45.50 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Weiss Ratings upgraded Trustmark from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, August 14th. DA Davidson increased their price target on Trustmark from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Finally, Keefe, Bruyette & Woods lifted their price objective on Trustmark from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 16th.

Trustmark Stock Performance

Shares of TRMK opened at $44.22 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average price is $45.73 and its 200-day moving average price is $44.73. Trustmark has a 52 week low of $36.41 and a 52 week high of $49.00. The stock has a market cap of $2.57 billion, a P/E ratio of 11.53 and a beta of 0.66.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, October 27th. The financial services provider reported $1.00 EPS for the quarter, hitting the consensus estimate of $1.00. The company had revenue of $212.26 million during the quarter, compared to the consensus estimate of $215.04 million. Trustmark had a return on equity of 10.78% and a net margin of 20.90%. Trustmark’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the company earned $0.94 EPS. Equities research analysts anticipate that Trustmark will post 3.97 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $1.00 dividend on an annualized basis and a yield of 2.3%. Trustmark’s dividend payout ratio is presently 25.38%.

Hedge Funds Weigh In On Trustmark

Institutional investors and hedge funds have recently made changes to their positions in the business. Nykredit A S purchased a new position in shares of Trustmark during the 2nd quarter worth about $29,000. Rockefeller Capital Management L.P. grew its holdings in 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 purchasing an additional 779 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Trustmark in the 2nd quarter worth about $39,000. Global Retirement Partners LLC purchased a new stake in Trustmark in the 2nd quarter worth about $63,000. Finally, EverSource Wealth Advisors LLC raised its position in Trustmark by 23.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,657 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 314 shares during the period. 67.64% of the stock is owned by hedge funds and other institutional investors.

About Trustmark

Trustmark Corporation (NASDAQ: TRMK) is a financial services company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides banking, wealth management and insurance services to individuals, businesses and institutional clients.

Trustmark’s banking activities include deposit accounts, consumer and commercial lending, mortgages, treasury management and other financial services. Its wealth management business offers trust, investment management, financial planning and related services, while its insurance operations provide personal and commercial insurance products.

Founded in 1889, Trustmark serves customers through banking and financial services operations in Mississippi, Alabama, Florida, Tennessee and Texas.