Analysts Set Trustmark Corporation (NASDAQ:TRMK) PT at $42.25

Trustmark Corporation (NASDAQ:TRMK) has been assigned an average rating of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $42.25.

Several analysts have issued reports on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Trustmark in a research note on Wednesday, October 8th. DA Davidson boosted their price objective on shares of Trustmark from $39.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Zacks Research lowered shares of Trustmark from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Finally, Hovde Group lifted their target price on shares of Trustmark from $37.00 to $41.00 and gave the stock a “market perform” rating in a research report on Thursday, July 24th.

Insider Transactions at Trustmark

In related news, Director Gerard R. Host sold 1,556 shares of the stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $40.63, for a total transaction of $63,220.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marcelo L. Eduardo sold 700 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $38.49, for a total value of $26,943.00. Following the transaction, the director owned 8,577 shares in the company, valued at approximately $330,128.73. The trade was a 7.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 23,226 shares of company stock valued at $897,299. 1.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TRMK. Integrated Quantitative Investments LLC purchased a new stake in Trustmark during the 3rd quarter valued at $1,113,000. American Century Companies Inc. raised its stake in shares of Trustmark by 30.5% during the third quarter. American Century Companies Inc. now owns 564,180 shares of the financial services provider’s stock valued at $22,342,000 after acquiring an additional 132,023 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Trustmark during the third quarter worth about $251,000. Intech Investment Management LLC boosted its holdings in shares of Trustmark by 11.1% during the third quarter. Intech Investment Management LLC now owns 51,205 shares of the financial services provider’s stock worth $2,028,000 after purchasing an additional 5,125 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Trustmark by 10.9% in the third quarter. JPMorgan Chase & Co. now owns 187,584 shares of the financial services provider’s stock worth $7,428,000 after purchasing an additional 18,400 shares during the last quarter. 67.64% of the stock is owned by hedge funds and other institutional investors.

Trustmark Trading Down 1.3%

NASDAQ TRMK opened at $38.66 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The stock’s 50-day simple moving average is $39.10 and its two-hundred day simple moving average is $37.55. Trustmark has a twelve month low of $29.77 and a twelve month high of $41.33. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 10.56 and a beta of 0.70.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The firm had revenue of $207.53 million during the quarter, compared to analysts’ expectations of $206.13 million. Trustmark had a return on equity of 10.90% and a net margin of 19.82%.Trustmark’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 earnings per share. Research analysts forecast that Trustmark will post 3.42 EPS for the current fiscal year.

Trustmark Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a $0.24 dividend. The ex-dividend date is Monday, December 1st. This represents a $0.96 annualized dividend and a dividend yield of 2.5%. Trustmark’s payout ratio is currently 26.23%.

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.