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

Trustmark Co. (NASDAQ:TRMK) has received an average recommendation of “Hold” from the five ratings firms that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $40.60.

Several brokerages have recently issued reports on TRMK. Keefe, Bruyette & Woods raised their price objective on Trustmark from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. DA Davidson upped their target price on Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Finally, Janney Montgomery Scott assumed coverage on Trustmark in a research report on Friday, January 24th. They issued a “buy” rating and a $42.00 price objective on the stock.

Hedge Funds Weigh In On Trustmark

A number of large investors have recently added to or reduced their stakes in the stock. AlphaQuest LLC raised its position in shares of Trustmark by 4.7% during the 4th quarter. AlphaQuest LLC now owns 10,157 shares of the financial services provider’s stock worth $359,000 after purchasing an additional 456 shares during the last quarter. HB Wealth Management LLC boosted its holdings in shares of Trustmark by 0.7% during the 4th quarter. HB Wealth Management LLC now owns 74,634 shares of the financial services provider’s stock worth $2,640,000 after purchasing an additional 528 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Trustmark by 1.0% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 54,274 shares of the financial services provider’s stock valued at $1,920,000 after purchasing an additional 528 shares during the last quarter. Element Wealth LLC boosted its stake in Trustmark by 6.3% during the fourth quarter. Element Wealth LLC now owns 9,018 shares of the financial services provider’s stock worth $319,000 after buying an additional 533 shares during the last quarter. Finally, Swiss National Bank raised its holdings in shares of Trustmark by 0.7% during the 4th quarter. Swiss National Bank now owns 114,400 shares of the financial services provider’s stock worth $4,046,000 after acquiring an additional 800 shares during the period. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Trustmark Stock Down 2.4 %

NASDAQ:TRMK opened at $34.30 on Friday. The company’s 50 day moving average is $35.98 and its two-hundred day moving average is $35.56. The company has a market cap of $2.09 billion, a PE ratio of 9.42 and a beta of 0.71. Trustmark has a twelve month low of $25.41 and a twelve month high of $40.73. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09.

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

Trustmark Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were given a dividend of $0.24 per share. This is a positive change from Trustmark’s previous quarterly dividend of $0.23. The ex-dividend date was Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.80%. Trustmark’s dividend payout ratio (DPR) is 26.37%.

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.