Analysts Set Trustmark Co. (NASDAQ:TRMK) Target Price at $35.20

Trustmark Co. (NASDAQ:TRMK) has earned a consensus recommendation of “Hold” from the five analysts that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $35.20.

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

Trustmark Trading Up 1.8 %

NASDAQ TRMK opened at $39.97 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 12.08 and a beta of 0.72. The company’s 50-day simple moving average is $34.59 and its two-hundred day simple moving average is $32.24. Trustmark has a one year low of $22.11 and a one year high of $40.73.

Trustmark (NASDAQ:TRMK) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. The business had revenue of $192.30 million for the quarter, compared to the consensus estimate of $192.77 million. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. During the same quarter last year, the firm posted $0.64 EPS. Equities analysts forecast that Trustmark will post 2.94 EPS for the current fiscal year.

Trustmark Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Friday, November 29th. Trustmark’s dividend payout ratio (DPR) is presently 27.79%.

Insider Buying and Selling

In related news, Director Marcelo L. Eduardo sold 790 shares of Trustmark stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total value of $28,353.10. Following the completion of the sale, the director now directly owns 7,334 shares in the company, valued at $263,217.26. This trade represents a 9.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gerard R. Host sold 7,000 shares of Trustmark stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $38.59, for a total transaction of $270,130.00. Following the sale, the director now owns 16,500 shares of the company’s stock, valued at approximately $636,735. The trade was a 29.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,206 shares of company stock worth $1,347,991 in the last three months. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of Trustmark

Several institutional investors and hedge funds have recently bought and sold shares of TRMK. Wellington Management Group LLP lifted its stake in Trustmark by 32.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,356,853 shares of the financial services provider’s stock valued at $43,175,000 after acquiring an additional 333,390 shares during the period. American Century Companies Inc. lifted its stake in Trustmark by 25.3% during the 2nd quarter. American Century Companies Inc. now owns 986,322 shares of the financial services provider’s stock valued at $29,629,000 after acquiring an additional 199,245 shares during the period. Hanson & Doremus Investment Management acquired a new stake in Trustmark during the 2nd quarter valued at approximately $4,199,000. Verition Fund Management LLC lifted its stake in Trustmark by 19.8% during the 3rd quarter. Verition Fund Management LLC now owns 778,312 shares of the financial services provider’s stock valued at $24,766,000 after acquiring an additional 128,834 shares during the period. Finally, Earnest Partners LLC increased its holdings in shares of Trustmark by 3.1% during the 2nd quarter. Earnest Partners LLC now owns 3,442,019 shares of the financial services provider’s stock valued at $103,398,000 after purchasing an additional 102,268 shares in the last quarter. 67.64% of the stock is currently owned by institutional investors and hedge funds.

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.