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

Shares of Trustmark Co. (NASDAQ:TRMK) have been given a consensus rating of “Hold” by the five ratings firms that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $35.20.

Several brokerages have weighed in on TRMK. Truist Financial upped their target price 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. Hovde Group raised their price objective 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. Finally, DA Davidson increased their price objective on shares of Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th.

Insider Transactions at Trustmark

In other news, Director Marcelo L. Eduardo sold 790 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $35.89, for a total value of $28,353.10. Following the transaction, the director now owns 7,334 shares in the company, valued at $263,217.26. This represents a 9.72 % decrease in their position. The sale 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 the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $38.59, for a total transaction of $270,130.00. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold 34,206 shares of company stock valued at $1,347,991 over the last three months. Company insiders own 1.50% of the company’s stock.

Institutional Trading of Trustmark

Several large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in Trustmark by 32.6% in the third quarter. Wellington Management Group LLP now owns 1,356,853 shares of the financial services provider’s stock valued at $43,175,000 after buying an additional 333,390 shares during the period. American Century Companies Inc. raised its stake in shares of Trustmark by 25.3% in 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 purchasing an additional 199,245 shares during the period. Hanson & Doremus Investment Management acquired a new stake in shares of Trustmark in the 2nd quarter valued at about $4,199,000. Verition Fund Management LLC boosted its position in shares of Trustmark by 19.8% during the third quarter. Verition Fund Management LLC now owns 778,312 shares of the financial services provider’s stock worth $24,766,000 after buying an additional 128,834 shares during the period. Finally, Earnest Partners LLC grew its holdings in shares of Trustmark by 3.1% during the second quarter. Earnest Partners LLC now owns 3,442,019 shares of the financial services provider’s stock worth $103,398,000 after buying an additional 102,268 shares in the last quarter. 67.64% of the stock is owned by institutional investors.

Trustmark Trading Up 3.7 %

Shares of Trustmark stock opened at $34.76 on Friday. Trustmark has a 1 year low of $25.24 and a 1 year high of $40.73. The company has a market capitalization of $2.13 billion, a P/E ratio of 10.50 and a beta of 0.76. The company’s fifty day moving average is $37.16 and its two-hundred day moving average is $34.17. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.82 by $0.02. The business had revenue of $192.30 million during the quarter, compared to analysts’ expectations of $192.77 million. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. During the same quarter in the prior year, the business earned $0.64 earnings per share. Analysts forecast that Trustmark will post 2.94 earnings per share for the current year.

Trustmark Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.92 annualized dividend and a dividend yield of 2.65%. Trustmark’s dividend payout ratio is currently 27.79%.

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.