Analysts Set Trustmark Corporation (NASDAQ:TRMK) Price Target at $44.75

Trustmark Corporation (NASDAQ:TRMK) has earned a consensus recommendation of “Hold” from the seven research firms that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $44.75.

A number of equities analysts recently weighed in on the stock. DA Davidson restated a “neutral” rating and issued a $44.00 price objective on shares of Trustmark in a report on Wednesday, April 29th. Weiss Ratings upgraded shares of Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, June 1st. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $45.00 price objective on shares of Trustmark in a report on Thursday, April 9th. Piper Sandler boosted their price objective on shares of Trustmark from $44.00 to $45.50 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Finally, Brean Capital assumed coverage on shares of Trustmark in a report on Thursday, March 12th. They issued a “buy” rating for the company.

Trustmark Stock Performance

Shares of TRMK opened at $46.34 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average price is $44.56 and its 200-day moving average price is $42.88. Trustmark has a 52 week low of $35.44 and a 52 week high of $46.61. The stock has a market cap of $2.72 billion, a P/E ratio of 12.26 and a beta of 0.65.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. Trustmark had a return on equity of 10.74% and a net margin of 20.12%.The firm had revenue of $208.07 million for the quarter, compared to analysts’ expectations of $204.98 million. During the same period in the previous year, the firm posted $0.88 EPS. Equities research analysts anticipate that Trustmark will post 3.92 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Monday, June 1st. Trustmark’s payout ratio is presently 26.46%.

Hedge Funds Weigh In On Trustmark

Hedge funds have recently added to or reduced their stakes in the company. North Reef Capital Management LP purchased a new stake in Trustmark during the 1st quarter valued at $82,296,000. UBS Group AG raised its stake in Trustmark by 282.0% during the 4th quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock valued at $24,944,000 after buying an additional 472,751 shares during the last quarter. Wellington Management Group LLP raised its stake in Trustmark by 8.9% during the 3rd quarter. Wellington Management Group LLP now owns 3,883,882 shares of the financial services provider’s stock valued at $153,802,000 after buying an additional 316,851 shares during the last quarter. Bridgeway Capital Management LLC raised its stake in Trustmark by 156.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 389,333 shares of the financial services provider’s stock valued at $15,165,000 after buying an additional 237,266 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in Trustmark by 121.1% during the 1st quarter. Bank of America Corp DE now owns 316,772 shares of the financial services provider’s stock valued at $13,349,000 after buying an additional 173,486 shares during the last quarter. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

About Trustmark

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.