Trustmark Co. (NASDAQ:TRMK) Receives $35.20 Consensus Target Price from Analysts

Trustmark Co. (NASDAQ:TRMK) has earned a consensus rating of “Hold” from the five research firms that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $35.20.

TRMK has been the subject of a number of recent analyst reports. Hovde Group upped their price objective on Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Truist Financial upped their price objective on Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a report on Friday, October 25th. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, DA Davidson increased their price target on Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th.

Trustmark Price Performance

Shares of TRMK stock opened at $35.26 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 10.65 and a beta of 0.76. The stock’s fifty day simple moving average is $36.94 and its 200 day simple moving average is $34.26. Trustmark has a one year low of $25.24 and a one year high of $40.73.

Trustmark (NASDAQ:TRMK) last issued 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 business had revenue of $192.30 million for the quarter, compared to analyst estimates of $192.77 million. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. During the same quarter in the prior year, the firm posted $0.64 earnings per share. On average, analysts expect that Trustmark will post 2.96 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.92 annualized dividend and a dividend yield of 2.61%. Trustmark’s dividend payout ratio is currently 27.79%.

Insider Activity

In related news, Director Gerard R. Host sold 26,416 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $39.73, for a total transaction of $1,049,507.68. Following the sale, the director now owns 26,792 shares of the company’s stock, valued at $1,064,446.16. This trade represents a 49.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Marcelo L. Eduardo sold 790 shares of the firm’s stock in a transaction on 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 directly owns 7,334 shares in the company, valued at approximately $263,217.26. This trade represents a 9.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,206 shares of company stock valued at $1,347,991 over the last three months. Insiders own 1.50% of the company’s stock.

Institutional Trading of Trustmark

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRMK. GoalVest Advisory LLC purchased a new position in shares of Trustmark in the 3rd quarter worth approximately $63,000. nVerses Capital LLC purchased a new stake in shares of Trustmark during the third quarter worth $67,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Trustmark in the third quarter worth $130,000. Blue Trust Inc. increased its holdings in shares of Trustmark by 225.2% in the third quarter. Blue Trust Inc. now owns 4,953 shares of the financial services provider’s stock worth $149,000 after purchasing an additional 3,430 shares during the period. Finally, Arlington Trust Co LLC increased its stake in Trustmark by 77.0% in the third quarter. Arlington Trust Co LLC now owns 5,309 shares of the financial services provider’s stock valued at $169,000 after acquiring an additional 2,309 shares during the last quarter. 67.64% of the stock is owned by institutional investors.

About Trustmark

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.