Trustmark Corporation (NASDAQ:TRMK) Stock Has Average Price Target of $47.38

Trustmark Corporation (NASDAQ:TRMK) has been given a consensus rating of “Moderate Buy” by the six analysts that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $47.38.

A number of research analysts recently commented on TRMK shares. Weiss Ratings upgraded Trustmark from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, August 14th. Keefe, Bruyette & Woods raised their target price on Trustmark from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, September 16th. DA Davidson upped their price target on shares of Trustmark from $46.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Piper Sandler increased their price objective on shares of Trustmark from $45.50 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Finally, Wall Street Zen upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th.

Hedge Funds Weigh In On Trustmark

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Nykredit A S acquired a new stake in Trustmark in the 2nd quarter valued at approximately $29,000. Public Employees Retirement System of Ohio acquired a new position in Trustmark during the 2nd quarter worth $39,000. Rockefeller Capital Management L.P. grew its stake in shares of Trustmark by 1,129.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 848 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 779 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of Trustmark in the second quarter worth $63,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Trustmark by 23.4% during the first quarter. EverSource Wealth Advisors LLC now owns 1,657 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 314 shares during the period. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Trustmark Trading Down 0.8%

NASDAQ TRMK opened at $45.54 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.89. Trustmark has a one year low of $36.33 and a one year high of $49.00. The company has a 50-day simple moving average of $46.70 and a 200-day simple moving average of $45.34. The firm has a market capitalization of $2.64 billion, a PE ratio of 11.56 and a beta of 0.66.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, July 28th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. Trustmark had a net margin of 20.75% and a return on equity of 10.69%. The firm had revenue of $213.38 million for the quarter, compared to analysts’ expectations of $210.30 million. During the same quarter last year, the company posted $0.92 earnings per share. Trustmark’s revenue was up 4.8% on a year-over-year basis. On average, equities analysts forecast that Trustmark will post 3.98 earnings per share for the current year.

Trustmark Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a $0.25 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $1.00 annualized dividend and a dividend yield of 2.2%. Trustmark’s dividend payout ratio (DPR) is presently 25.38%.

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 banking and financial services to individuals, businesses, and institutions.

Trustmark’s offerings include personal and business deposit accounts, consumer and commercial loans, mortgage lending, treasury management, online and mobile banking, and other traditional banking services. The company also provides wealth management, investment, trust, and brokerage services, as well as insurance products through affiliated operations.

Founded in 1889, Trustmark has developed a regional banking presence across the Southeast.