Trustmark Co. (NASDAQ:TRMK) Receives $40.60 Consensus Target Price from Brokerages

Trustmark Co. (NASDAQ:TRMK) has earned a consensus rating of “Hold” from the five research firms that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $39.80.

TRMK has been the topic of several recent research reports. DA Davidson increased their price objective on Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Janney Montgomery Scott assumed coverage on shares of Trustmark in a research report on Friday, January 24th. They set a “buy” rating and a $42.00 price target on the stock. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Trustmark from $45.00 to $43.00 and set an “outperform” rating for the company in a report on Thursday.

Trustmark Stock Performance

NASDAQ TRMK opened at $33.47 on Tuesday. Trustmark has a 52-week low of $27.42 and a 52-week high of $40.73. The stock has a market cap of $2.03 billion, a PE ratio of 9.20 and a beta of 0.67. The firm has a 50-day moving average of $34.14 and a 200-day moving average of $35.59. 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 issued its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.06. The firm had revenue of $231.83 million during the quarter, compared to the consensus estimate of $195.38 million. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. On average, sell-side analysts anticipate that Trustmark will post 3.42 EPS for the current year.

Trustmark Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be paid a $0.24 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.96 dividend on an annualized basis and a yield of 2.87%. Trustmark’s dividend payout ratio (DPR) is 26.37%.

Hedge Funds Weigh In On Trustmark

Several hedge funds and other institutional investors have recently modified their holdings of TRMK. Vanguard Group Inc. grew its position in Trustmark by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 6,686,247 shares of the financial services provider’s stock valued at $236,493,000 after acquiring an additional 30,057 shares during the last quarter. Wellington Management Group LLP increased its position in Trustmark by 82.2% during the 4th quarter. Wellington Management Group LLP now owns 2,472,561 shares of the financial services provider’s stock worth $87,454,000 after purchasing an additional 1,115,708 shares in the last quarter. Geode Capital Management LLC lifted its stake in Trustmark by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,461,545 shares of the financial services provider’s stock valued at $46,515,000 after purchasing an additional 15,627 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Trustmark by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 894,807 shares of the financial services provider’s stock valued at $31,649,000 after buying an additional 6,683 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Trustmark by 5.0% during the fourth quarter. Northern Trust Corp now owns 808,844 shares of the financial services provider’s stock worth $28,609,000 after buying an additional 38,594 shares during the last quarter. Institutional investors own 67.64% of the company’s stock.

Trustmark Company Profile

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.