Trustmark Co. (NASDAQ:TRMK) Receives $35.20 Consensus Target Price from Brokerages

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

A number of analysts have recently commented on TRMK shares. Hovde Group boosted 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. StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. DA Davidson boosted their target price on shares of Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Finally, Truist Financial boosted their target price on shares of Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a research note on Friday, October 25th.

Trustmark Stock Up 1.0 %

TRMK opened at $35.26 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The company has a market cap of $2.16 billion, a P/E ratio of 10.65 and a beta of 0.76. Trustmark has a 12 month low of $25.24 and a 12 month high of $40.73. The business’s 50-day moving average price is $36.94 and its 200-day moving average price is $34.26.

Trustmark (NASDAQ:TRMK) last posted 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. The company had revenue of $192.30 million for the quarter, compared to analysts’ expectations of $192.77 million. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. During the same period last year, the firm earned $0.64 earnings per share. On average, equities analysts expect that Trustmark will post 2.96 EPS for the current year.

Trustmark Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend was Friday, November 29th. Trustmark’s payout ratio is 27.79%.

Insider Buying and Selling

In related news, Director Marcelo L. Eduardo sold 790 shares of the company’s stock in a transaction on 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 transaction, the director now owns 7,334 shares of the company’s stock, valued at approximately $263,217.26. This represents a 9.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gerard R. Host sold 7,000 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $38.59, for a total transaction of $270,130.00. Following the completion of the transaction, the director now directly owns 16,500 shares of the company’s stock, valued at $636,735. This represents a 29.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,206 shares of company stock valued at $1,347,991. Company insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. boosted its holdings in shares of 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 purchasing an additional 415 shares during the last quarter. HB Wealth Management LLC raised its position in shares of Trustmark by 0.7% during the 4th quarter. HB Wealth Management LLC now owns 74,634 shares of the financial services provider’s stock valued at $2,640,000 after buying an additional 528 shares in the last quarter. Legacy Wealth Management LLC MS raised its position in shares of Trustmark by 10.3% during the 3rd quarter. Legacy Wealth Management LLC MS now owns 10,700 shares of the financial services provider’s stock valued at $340,000 after buying an additional 1,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Trustmark by 11.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,991 shares of the financial services provider’s stock valued at $413,000 after buying an additional 1,381 shares in the last quarter. Finally, GoalVest Advisory LLC purchased a new stake in shares of Trustmark during the 3rd quarter valued at about $63,000. Institutional investors own 67.64% of the company’s stock.

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.