Brokerages Set Trustmark Co. (NASDAQ:TRMK) Target Price at $29.67

Shares of Trustmark Co. (NASDAQ:TRMK) have earned an average recommendation of “Hold” from the four analysts that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating. The average 1-year price target among brokers that have issued a report on the stock in the last year is $29.67.

Several research analysts have weighed in on the stock. DA Davidson reiterated a “neutral” rating on shares of Trustmark in a research note on Monday, January 15th. Truist Financial increased their price target on shares of Trustmark from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, April 1st. TheStreet upgraded shares of Trustmark from a “c+” rating to a “b” rating in a research note on Tuesday, January 23rd. Piper Sandler reiterated a “neutral” rating and issued a $29.00 target price on shares of Trustmark in a research note on Tuesday, March 26th. Finally, StockNews.com lowered shares of Trustmark from a “hold” rating to a “sell” rating in a research note on Thursday.

Trustmark Stock Down 0.9 %

Shares of NASDAQ:TRMK opened at $26.20 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.85. The company has a market cap of $1.60 billion, a PE ratio of 9.67 and a beta of 0.82. Trustmark has a 52 week low of $18.96 and a 52 week high of $28.65. The firm has a 50 day simple moving average of $26.81 and a 200 day simple moving average of $25.20.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.04. The firm had revenue of $189.85 million for the quarter, compared to analyst estimates of $187.63 million. Trustmark had a net margin of 15.06% and a return on equity of 10.77%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 EPS. As a group, research analysts expect that Trustmark will post 2.44 earnings per share for the current year.

Trustmark Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend was Thursday, February 29th. Trustmark’s payout ratio is 33.95%.

Hedge Funds Weigh In On Trustmark

Institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new position in Trustmark during the 3rd quarter worth approximately $28,000. Coppell Advisory Solutions Corp. bought a new position in Trustmark in the fourth quarter valued at approximately $43,000. Tower Research Capital LLC TRC lifted its stake in Trustmark by 208.2% in the first quarter. Tower Research Capital LLC TRC now owns 2,795 shares of the financial services provider’s stock valued at $69,000 after buying an additional 1,888 shares in the last quarter. Point72 Middle East FZE bought a new position in Trustmark in the fourth quarter valued at approximately $82,000. Finally, Arlington Trust Co LLC acquired a new position in Trustmark during the fourth quarter worth $84,000. 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.