Brokerages Set Trustmark Co. (NASDAQ:TRMK) Target Price at $30.00

Trustmark Co. (NASDAQ:TRMK) has earned a consensus rating of “Hold” from the five research firms that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $30.00.

A number of brokerages have recently weighed in on TRMK. Keefe, Bruyette & Woods lifted their price objective on Trustmark from $26.00 to $28.00 and gave the company a “market perform” rating in a research note on Thursday, July 27th. StockNews.com initiated coverage on Trustmark in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Piper Sandler lifted their target price on Trustmark from $25.00 to $27.00 in a report on Thursday, July 27th. Finally, Truist Financial decreased their target price on Trustmark from $25.00 to $23.00 and set a “hold” rating for the company in a report on Wednesday, September 27th.

Trustmark Price Performance

TRMK stock opened at $22.53 on Tuesday. Trustmark has a 52-week low of $18.96 and a 52-week high of $36.77. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.12. The business has a fifty day moving average of $21.33 and a two-hundred day moving average of $22.34. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 14.43 and a beta of 0.81.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). Trustmark had a net margin of 9.18% and a return on equity of 11.35%. The firm had revenue of $194.16 million during the quarter, compared to analyst estimates of $191.27 million. As a group, research analysts anticipate that Trustmark will post 2.79 earnings per share for the current year.

Trustmark Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date is Thursday, November 30th. Trustmark’s dividend payout ratio (DPR) is 58.97%.

Institutional Trading of Trustmark

Institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC purchased a new stake in Trustmark during the 3rd quarter worth about $28,000. Coppell Advisory Solutions Corp. purchased a new stake in Trustmark during the 4th quarter worth about $43,000. Tower Research Capital LLC TRC lifted its holdings in Trustmark by 208.2% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,795 shares of the financial services provider’s stock worth $69,000 after buying an additional 1,888 shares during the last quarter. Point72 Middle East FZE purchased a new stake in Trustmark during the 4th quarter worth about $82,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in Trustmark by 315.1% during the 1st quarter. Public Employees Retirement System of Ohio now owns 4,466 shares of the financial services provider’s stock worth $110,000 after buying an additional 3,390 shares during the last quarter. 65.26% of the stock is owned by hedge funds and other 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.