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

Shares of Trustmark Co. (NASDAQ:TRMK) have been given a consensus recommendation of “Hold” by the five research firms that are covering the stock, Marketbeat.com reports. Four research 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 updated their coverage on the stock in the last year is $35.20.

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

Trustmark Stock Performance

Trustmark stock opened at $36.12 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The stock has a market cap of $2.21 billion, a PE ratio of 10.91 and a beta of 0.75. 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 $37.04 and its two-hundred day moving average price is $33.46.

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

Trustmark Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend was Friday, November 29th. Trustmark’s payout ratio is presently 27.79%.

Insider Buying and Selling at Trustmark

In other news, Director Gerard R. Host sold 7,000 shares of Trustmark stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $38.59, for a total value 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 approximately $636,735. This trade represents a 29.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Marcelo L. Eduardo sold 790 shares of the company’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 sale, the director now owns 7,334 shares in the company, valued at approximately $263,217.26. The trade was a 9.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,206 shares of company stock valued at $1,347,991. 1.50% of the stock is currently owned by company insiders.

Institutional Trading of Trustmark

Hedge funds have recently modified their holdings of the stock. Louisiana State Employees Retirement System grew its holdings in Trustmark by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 30,800 shares of the financial services provider’s stock worth $925,000 after purchasing an additional 600 shares during the period. Bank of New York Mellon Corp increased its position in Trustmark by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 685,875 shares of the financial services provider’s stock valued at $20,604,000 after buying an additional 2,714 shares in the last quarter. Smith Shellnut Wilson LLC ADV acquired a new position in Trustmark during the 2nd quarter worth approximately $287,000. Innealta Capital LLC bought a new position in Trustmark in the second quarter worth approximately $61,000. Finally, Natixis Advisors LLC acquired a new stake in Trustmark in the second quarter valued at approximately $329,000. Institutional investors own 67.64% of the company’s stock.

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.