Analysts Set Trustmark Co. (NASDAQ:TRMK) PT at $39.80

Trustmark Co. (NASDAQ:TRMK) has received a consensus recommendation of “Hold” from the five ratings firms that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and two have 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 $39.80.

Several brokerages have recently issued reports on TRMK. Keefe, Bruyette & Woods decreased their target price on Trustmark from $45.00 to $43.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Hovde Group increased their target price on Trustmark from $36.00 to $37.00 and gave the stock a “market perform” rating in a research report on Monday, April 28th. Finally, Wall Street Zen downgraded Trustmark from a “buy” rating to a “hold” rating in a research note on Saturday, June 7th.

Institutional Trading of Trustmark

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CIBC Asset Management Inc purchased a new stake in Trustmark during the 4th quarter valued at $217,000. New York State Common Retirement Fund boosted its stake in Trustmark by 8.3% during the 4th quarter. New York State Common Retirement Fund now owns 19,513 shares of the financial services provider’s stock valued at $690,000 after purchasing an additional 1,500 shares during the last quarter. Element Wealth LLC boosted its stake in Trustmark by 6.3% during the 4th quarter. Element Wealth LLC now owns 9,018 shares of the financial services provider’s stock valued at $319,000 after purchasing an additional 533 shares during the last quarter. BankPlus Trust Department purchased a new stake in Trustmark during the 4th quarter valued at $842,000. Finally, Oppenheimer Asset Management Inc. boosted its stake in Trustmark by 1.0% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 54,274 shares of the financial services provider’s stock valued at $1,920,000 after purchasing an additional 528 shares during the last quarter. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Trustmark Stock Down 1.8%

Shares of NASDAQ:TRMK opened at $33.96 on Wednesday. Trustmark has a 52-week low of $27.90 and a 52-week high of $40.73. The firm has a market capitalization of $2.05 billion, a P/E ratio of 9.33 and a beta of 0.66. The stock has a 50 day moving average price of $34.18 and a 200-day moving average price of $35.24. 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 announced its earnings results 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. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. The firm had revenue of $231.83 million during the quarter, compared to analyst estimates of $195.38 million. As a group, equities research analysts anticipate that Trustmark will post 3.42 EPS for the current fiscal year.

Trustmark Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Sunday, June 1st were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.96 annualized dividend and a dividend yield of 2.83%. Trustmark’s payout ratio is currently 25.00%.

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.