Trustmark Co. (NASDAQ:TRMK) Receives $34.75 Consensus PT from Brokerages

Shares of Trustmark Co. (NASDAQ:TRMK) have been assigned an average rating of “Hold” from the five research firms that are currently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $35.20.

A number of research firms recently commented on TRMK. StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Truist Financial upped their price objective on Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a research note on Friday, October 25th. DA Davidson raised their price target on Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Finally, Hovde Group lifted their target price on Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th.

Insider Buying and Selling

In other Trustmark news, Director Marcelo L. Eduardo sold 790 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $35.89, for a total transaction of $28,353.10. Following the transaction, the director now owns 7,334 shares of the company’s stock, valued at $263,217.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is currently owned by company insiders.

Institutional Trading of Trustmark

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Trustmark by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 6,712,905 shares of the financial services provider’s stock worth $187,156,000 after purchasing an additional 50,795 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Trustmark by 23.6% during the first quarter. BNP Paribas Financial Markets now owns 30,562 shares of the financial services provider’s stock worth $859,000 after acquiring an additional 5,834 shares during the last quarter. Wakefield Asset Management LLLP acquired a new stake in Trustmark during the 1st quarter worth about $949,000. Texas Permanent School Fund Corp grew its holdings in Trustmark by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 53,449 shares of the financial services provider’s stock worth $1,502,000 after purchasing an additional 716 shares during the period. Finally, Empowered Funds LLC lifted its holdings in shares of Trustmark by 8.2% in the 1st quarter. Empowered Funds LLC now owns 182,179 shares of the financial services provider’s stock worth $5,121,000 after purchasing an additional 13,759 shares in the last quarter. 67.64% of the stock is owned by institutional investors and hedge funds.

Trustmark Stock Down 0.7 %

Shares of Trustmark stock opened at $33.97 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average price of $32.95 and a 200 day moving average price of $31.38. The firm has a market cap of $2.08 billion, a P/E ratio of 10.26 and a beta of 0.72. Trustmark has a fifty-two week low of $20.74 and a fifty-two week high of $36.14.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. The business had revenue of $192.30 million during the quarter, compared to analyst estimates of $192.77 million. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. During the same quarter last year, the company posted $0.64 EPS. On average, sell-side analysts forecast that Trustmark will post 2.93 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, November 29th. Trustmark’s dividend payout ratio is 27.79%.

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.