Trustmark Corporation (NASDAQ:TRMK) Receives $44.75 Consensus Price Target from Brokerages

Trustmark Corporation (NASDAQ:TRMK) has been assigned an average rating of “Hold” from the seven research firms that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $44.75.

A number of analysts have commented on the stock. Piper Sandler boosted their price target on shares of Trustmark from $44.00 to $45.50 and gave the company a “neutral” rating in a research note on Thursday, April 30th. DA Davidson restated a “neutral” rating and set a $44.00 price target on shares of Trustmark in a research note on Wednesday, April 29th. Brean Capital assumed coverage on shares of Trustmark in a research note on Thursday, March 12th. They set a “buy” rating for the company. Keefe, Bruyette & Woods restated a “market perform” rating and set a $45.00 price target on shares of Trustmark in a research note on Thursday, April 9th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Trustmark in a research note on Monday, May 4th.

Institutional Trading of Trustmark

Hedge funds and other institutional investors have recently bought and sold shares of the business. North Reef Capital Management LP bought a new stake in shares of Trustmark in the 1st quarter worth $82,296,000. UBS Group AG grew its stake in shares of Trustmark by 282.0% in the 4th quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock worth $24,944,000 after acquiring an additional 472,751 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Trustmark by 8.9% in the 3rd quarter. Wellington Management Group LLP now owns 3,883,882 shares of the financial services provider’s stock worth $153,802,000 after acquiring an additional 316,851 shares in the last quarter. Bridgeway Capital Management LLC grew its stake in shares of Trustmark by 156.0% in the 4th quarter. Bridgeway Capital Management LLC now owns 389,333 shares of the financial services provider’s stock worth $15,165,000 after acquiring an additional 237,266 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Trustmark by 121.1% in the 1st quarter. Bank of America Corp DE now owns 316,772 shares of the financial services provider’s stock worth $13,349,000 after acquiring an additional 173,486 shares in the last quarter. Institutional investors own 67.64% of the company’s stock.

Trustmark Stock Up 0.1%

Trustmark stock opened at $44.16 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. Trustmark has a 12-month low of $33.39 and a 12-month high of $45.99. The firm’s fifty day moving average is $43.83 and its 200 day moving average is $42.02. The company has a market capitalization of $2.59 billion, a PE ratio of 11.68 and a beta of 0.66.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, April 28th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. Trustmark had a net margin of 20.12% and a return on equity of 10.74%. The company had revenue of $208.07 million for the quarter, compared to the consensus estimate of $204.98 million. During the same quarter in the previous year, the company earned $0.88 EPS. As a group, sell-side analysts predict that Trustmark will post 3.92 EPS for the current fiscal year.

Trustmark Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Monday, June 1st. Trustmark’s payout ratio is 26.46%.

Trustmark Company Profile

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.