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

Shares of Trustmark Co. (NASDAQ:TRMK) have been assigned an average rating of “Hold” from the five analysts that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $40.60.

A number of research firms have recently weighed in on TRMK. Keefe, Bruyette & Woods raised their price target on shares of Trustmark from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. DA Davidson raised their target price on shares of Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, Janney Montgomery Scott began coverage on shares of Trustmark in a research note on Friday, January 24th. They set a “buy” rating and a $42.00 target price on the stock.

Institutional Trading of Trustmark

A number of institutional investors and hedge funds have recently bought and sold shares of TRMK. Barclays PLC grew its position in shares of Trustmark by 124.7% in the 3rd quarter. Barclays PLC now owns 125,743 shares of the financial services provider’s stock valued at $4,001,000 after buying an additional 69,779 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Trustmark by 6.8% in the third quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider’s stock valued at $19,059,000 after acquiring an additional 37,989 shares during the last quarter. JPMorgan Chase & Co. increased its position in Trustmark by 10.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 122,956 shares of the financial services provider’s stock valued at $3,912,000 after purchasing an additional 11,934 shares during the period. State Street Corp raised its holdings in Trustmark by 0.8% during the 3rd quarter. State Street Corp now owns 3,090,988 shares of the financial services provider’s stock worth $98,355,000 after purchasing an additional 24,450 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Trustmark by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,461,545 shares of the financial services provider’s stock worth $46,515,000 after purchasing an additional 15,627 shares during the period. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Trustmark Stock Down 7.9 %

Shares of TRMK opened at $31.85 on Friday. The firm has a 50 day simple moving average of $35.87 and a two-hundred day simple moving average of $35.60. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. Trustmark has a one year low of $25.41 and a one year high of $40.73. The company has a market cap of $1.94 billion, a P/E ratio of 8.75 and a beta of 0.71.

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

Trustmark Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date was Friday, February 28th. This is a positive change from Trustmark’s previous quarterly dividend of $0.23. Trustmark’s payout ratio 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.