Brokerages Set Trustmark Co. (NASDAQ:TRMK) PT at $30.00

Shares of Trustmark Co. (NASDAQ:TRMK) have been assigned an average recommendation of “Hold” from the five research firms that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation. The average 12 month price target among brokers that have covered the stock in the last year is $30.00.

Several research analysts recently weighed in on TRMK shares. Keefe, Bruyette & Woods boosted their target price on Trustmark from $26.00 to $28.00 and gave the stock a “market perform” rating in a research note on Thursday, July 27th. Truist Financial dropped their target price on Trustmark from $25.00 to $23.00 and set a “hold” rating on the stock in a research note on Wednesday, September 27th. StockNews.com started coverage on Trustmark in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Piper Sandler boosted their price target on Trustmark from $25.00 to $27.00 in a research note on Thursday, July 27th.

Trustmark Trading Down 0.3 %

TRMK opened at $22.53 on Tuesday. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 14.43 and a beta of 0.81. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.12. Trustmark has a 12 month low of $18.96 and a 12 month high of $36.77. The stock has a fifty day moving average price of $21.33 and a 200-day moving average price of $22.34.

Trustmark (NASDAQ:TRMK) last announced its earnings results on Tuesday, October 24th. The financial services provider reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.05). Trustmark had a return on equity of 11.35% and a net margin of 9.18%. The business had revenue of $194.16 million for the quarter, compared to analysts’ expectations of $191.27 million. As a group, equities research analysts anticipate that Trustmark will post 2.79 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend is Thursday, November 30th. Trustmark’s dividend payout ratio is presently 58.97%.

Institutional Trading of Trustmark

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC grew its holdings in Trustmark by 1.3% during the second quarter. FMR LLC now owns 27,900 shares of the financial services provider’s stock worth $814,000 after acquiring an additional 349 shares during the period. Advisor Group Holdings Inc. grew its holdings in Trustmark by 2.6% during the fourth quarter. Advisor Group Holdings Inc. now owns 15,097 shares of the financial services provider’s stock worth $528,000 after acquiring an additional 389 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Trustmark by 1.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 23,981 shares of the financial services provider’s stock worth $837,000 after acquiring an additional 399 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Trustmark by 1.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 31,861 shares of the financial services provider’s stock worth $930,000 after acquiring an additional 410 shares during the period. Finally, KBC Group NV grew its holdings in Trustmark by 11.8% during the first quarter. KBC Group NV now owns 5,302 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 560 shares during the period. 65.26% of the stock is owned by institutional investors and hedge funds.

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.