Analysts Set Trustmark Co. (NASDAQ:TRMK) Price Target at $35.20

Trustmark Co. (NASDAQ:TRMK) has earned a consensus rating of “Hold” from the five research firms that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $35.20.

A number of brokerages recently commented on TRMK. StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Truist Financial lifted their price objective on Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Hovde Group raised their price target on Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Finally, DA Davidson boosted their price objective on Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th.

Insider Activity at Trustmark

In other news, Director Marcelo L. Eduardo sold 790 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total value of $28,353.10. Following the completion of the sale, the director now directly owns 7,334 shares of the company’s stock, valued at approximately $263,217.26. This trade represents a 9.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gerard R. Host sold 7,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $38.59, for a total transaction of $270,130.00. Following the transaction, the director now owns 16,500 shares in the company, valued at $636,735. This represents a 29.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,206 shares of company stock worth $1,347,991 over the last quarter. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TRMK. GAMMA Investing LLC raised its holdings in Trustmark by 62.1% in the second quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 351 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Trustmark by 2.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 17,356 shares of the financial services provider’s stock valued at $552,000 after acquiring an additional 415 shares during the period. Louisiana State Employees Retirement System boosted its stake in Trustmark by 2.0% during the second quarter. Louisiana State Employees Retirement System now owns 30,800 shares of the financial services provider’s stock worth $925,000 after acquiring an additional 600 shares in the last quarter. CWM LLC boosted its stake in Trustmark by 14.6% during the second quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock worth $144,000 after acquiring an additional 611 shares in the last quarter. Finally, Barnes Pettey Financial Advisors LLC grew its holdings in Trustmark by 9.2% in the second quarter. Barnes Pettey Financial Advisors LLC now owns 8,882 shares of the financial services provider’s stock worth $267,000 after purchasing an additional 750 shares during the period. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Trustmark Trading Down 0.3 %

Shares of Trustmark stock opened at $39.68 on Friday. The company has a 50 day simple moving average of $34.88 and a two-hundred day simple moving average of $32.37. The firm has a market cap of $2.43 billion, a PE ratio of 12.02 and a beta of 0.72. Trustmark has a 1 year low of $22.11 and a 1 year high of $40.73. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86.

Trustmark (NASDAQ:TRMK) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.02. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. The company had revenue of $192.30 million during the quarter, compared to analyst estimates of $192.77 million. During the same period in the previous year, the business earned $0.64 earnings per share. Analysts expect that Trustmark will post 2.94 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be issued a dividend of $0.23 per share. The ex-dividend date is Friday, November 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.32%. Trustmark’s dividend payout ratio is presently 27.79%.

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.