Analysts Set Trustmark Co. (NASDAQ:TRMK) PT at $35.00

Shares of Trustmark Co. (NASDAQ:TRMK) have been given a consensus recommendation of “Hold” by the four research firms that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $35.00.

Several equities research analysts have weighed in on TRMK shares. DA Davidson raised their target price on shares of Trustmark from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Truist Financial lifted their price objective on shares of Trustmark from $31.00 to $37.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th.

Trustmark Price Performance

Shares of TRMK opened at $31.41 on Monday. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 12.22 and a beta of 0.74. Trustmark has a twelve month low of $18.96 and a twelve month high of $35.72. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average of $32.24 and a two-hundred day moving average of $29.63.

Trustmark (NASDAQ:TRMK) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.03. The company had revenue of $283.96 million during the quarter, compared to the consensus estimate of $229.83 million. Trustmark had a net margin of 16.24% and a return on equity of 9.32%. During the same period last year, the firm earned $0.74 earnings per share. As a group, analysts predict 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, September 15th. Stockholders of record on Sunday, September 1st will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.93%. Trustmark’s payout ratio is currently 35.80%.

Institutional Investors Weigh In On Trustmark

Several institutional investors and hedge funds have recently made changes to their positions in TRMK. Victory Capital Management Inc. lifted its position in Trustmark by 70.6% during the fourth quarter. Victory Capital Management Inc. now owns 270,237 shares of the financial services provider’s stock valued at $7,534,000 after purchasing an additional 111,842 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Trustmark by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 883,423 shares of the financial services provider’s stock valued at $24,630,000 after purchasing an additional 52,320 shares during the period. Dimensional Fund Advisors LP lifted its position in Trustmark by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,830,150 shares of the financial services provider’s stock valued at $106,786,000 after purchasing an additional 59,068 shares during the period. Norges Bank acquired a new position in Trustmark during the fourth quarter valued at $10,992,000. Finally, Hsbc Holdings PLC acquired a new position in Trustmark during the fourth quarter valued at $8,215,000. 67.64% of the stock is currently owned by institutional investors and hedge funds.

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.