Brokerages Set Trustmark Corporation (NASDAQ:TRMK) Target Price at $46.12

Trustmark Corporation (NASDAQ:TRMK) has received an average recommendation of “Hold” from the seven brokerages that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $46.1250.

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

Trustmark Price Performance

Trustmark stock opened at $46.62 on Friday. Trustmark has a 12-month low of $36.33 and a 12-month high of $49.00. The stock has a market cap of $2.71 billion, a P/E ratio of 11.83 and a beta of 0.64. The company has a 50-day moving average price of $46.79 and a 200 day moving average price of $44.85. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, July 28th. The financial services provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The company had revenue of $213.38 million for the quarter, compared to the consensus estimate of $210.30 million. Trustmark had a net margin of 20.75% and a return on equity of 10.69%. Trustmark’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.92 earnings per share. Sell-side analysts anticipate that Trustmark will post 3.93 earnings per share for the current year.

Trustmark Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.1%. Trustmark’s dividend payout ratio is currently 25.38%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TRMK. PNC Financial Services Group Inc. grew its position in shares of Trustmark by 2.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,211 shares of the financial services provider’s stock valued at $430,000 after buying an additional 289 shares during the last quarter. California State Teachers Retirement System lifted its position in Trustmark by 0.6% in the second quarter. California State Teachers Retirement System now owns 53,630 shares of the financial services provider’s stock valued at $1,955,000 after acquiring an additional 313 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Trustmark by 23.4% in the first quarter. EverSource Wealth Advisors LLC now owns 1,657 shares of the financial services provider’s stock valued at $70,000 after acquiring an additional 314 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Trustmark by 1.0% in the second quarter. Lazard Asset Management LLC now owns 35,132 shares of the financial services provider’s stock valued at $1,280,000 after acquiring an additional 353 shares in the last quarter. Finally, Nykredit A S acquired a new position in Trustmark in the second quarter valued at $29,000. Hedge funds and other institutional investors own 67.64% of the company’s stock.

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 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.