Trustmark Co. (NASDAQ:TRMK) Receives $40.60 Average Price Target from Analysts

Shares of Trustmark Co. (NASDAQ:TRMK) have been assigned a consensus rating of “Hold” from the five brokerages that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $40.60.

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their target price on shares of Trustmark from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. DA Davidson boosted their target price on Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, Janney Montgomery Scott started coverage on shares of Trustmark in a research note on Friday, January 24th. They issued a “buy” rating and a $42.00 target price on the stock.

Trustmark Stock Down 2.4 %

NASDAQ TRMK opened at $34.30 on Friday. The stock has a market cap of $2.09 billion, a PE ratio of 9.42 and a beta of 0.71. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. Trustmark has a 12 month low of $25.41 and a 12 month high of $40.73. The stock’s 50 day moving average is $35.98 and its 200 day moving average is $35.56.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.83 by $0.09. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. Research analysts predict that Trustmark will post 3.42 EPS for the current fiscal year.

Trustmark Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from Trustmark’s previous quarterly dividend of $0.23. Trustmark’s dividend payout ratio (DPR) is currently 26.37%.

Hedge Funds Weigh In On Trustmark

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Trustmark by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 6,686,247 shares of the financial services provider’s stock valued at $236,493,000 after buying an additional 30,057 shares during the period. State Street Corp raised its holdings in Trustmark by 0.8% in the third quarter. State Street Corp now owns 3,090,988 shares of the financial services provider’s stock worth $98,355,000 after purchasing an additional 24,450 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Trustmark by 82.2% in the 4th quarter. Wellington Management Group LLP now owns 2,472,561 shares of the financial services provider’s stock valued at $87,454,000 after buying an additional 1,115,708 shares in the last quarter. Geode Capital Management LLC lifted its position in Trustmark by 1.1% during the third quarter. Geode Capital Management LLC now owns 1,461,545 shares of the financial services provider’s stock valued at $46,515,000 after acquiring an additional 15,627 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Trustmark by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 894,807 shares of the financial services provider’s stock worth $31,649,000 after purchasing an additional 6,683 shares during the last quarter. 67.64% of the stock is currently owned by institutional investors.

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.