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

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

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

Trustmark Price Performance

Trustmark stock opened at $32.19 on Monday. The firm has a market cap of $1.97 billion, a P/E ratio of 12.53 and a beta of 0.74. The stock’s 50 day moving average is $32.32 and its 200 day moving average is $29.65. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.87 and a quick ratio of 0.86. Trustmark has a one year low of $18.96 and a one year high of $35.72.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. The company had revenue of $283.96 million for the quarter, compared to analyst estimates of $229.83 million. Trustmark had a net margin of 16.24% and a return on equity of 9.32%. During the same period in the prior year, the firm posted $0.74 EPS. As a group, research analysts expect that Trustmark will post 2.93 EPS for the current year.

Trustmark Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st will be paid a $0.23 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.86%. Trustmark’s dividend payout ratio is presently 35.80%.

Institutional Trading of Trustmark

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its holdings in shares of 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 acquiring an additional 111,842 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Trustmark by 6.3% during the 4th 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 in the last quarter. Dimensional Fund Advisors LP increased its stake in Trustmark by 1.6% during the 4th 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 in the last quarter. Norges Bank acquired a new position in Trustmark during the fourth quarter worth $10,992,000. Finally, Hsbc Holdings PLC bought a new position in shares of Trustmark in the fourth quarter valued at $8,215,000. 67.64% of the stock is owned by institutional investors.

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.