Trustmark Co. (NASDAQ:TRMK) Receives $34.75 Average Price Target from Analysts

Trustmark Co. (NASDAQ:TRMK) has been assigned a consensus recommendation of “Hold” from the five brokerages that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $35.20.

TRMK has been the topic of a number of recent research reports. Hovde Group upped 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. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Truist Financial lifted their price objective on Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Finally, DA Davidson upped their target price on shares of Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, October 24th.

Trustmark Trading Down 1.5 %

NASDAQ:TRMK opened at $34.21 on Tuesday. Trustmark has a 52-week low of $20.04 and a 52-week high of $36.14. 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 stock has a fifty day simple moving average of $32.93 and a 200-day simple moving average of $31.24. The company has a market capitalization of $2.09 billion, a PE ratio of 10.34 and a beta of 0.73.

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

Trustmark Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.92 annualized dividend and a yield of 2.69%. Trustmark’s dividend payout ratio (DPR) is presently 27.79%.

Insider Buying and Selling at Trustmark

In other news, Director Marcelo L. Eduardo sold 790 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total transaction of $28,353.10. Following the transaction, the director now directly owns 7,334 shares in the company, valued at $263,217.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.50% of the stock is owned by company insiders.

Institutional Trading of Trustmark

A number of institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in Trustmark by 62.1% during the second quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 351 shares during the period. EntryPoint Capital LLC purchased a new stake in shares of Trustmark during the 1st quarter worth about $52,000. Innealta Capital LLC acquired a new stake in Trustmark during the 2nd quarter worth approximately $61,000. nVerses Capital LLC purchased a new position in Trustmark in the third quarter valued at approximately $67,000. Finally, CWM LLC lifted its position in Trustmark by 14.6% during the second quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock valued at $144,000 after buying an additional 611 shares in the last quarter. 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.