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

Trustmark Corporation (NASDAQ:TRMK) has earned an average rating of “Hold” from the seven research firms that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $46.1250.

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

Institutional Investors Weigh In On Trustmark

Institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada increased its stake in Trustmark by 27.0% in the 1st quarter. Royal Bank of Canada now owns 22,127 shares of the financial services provider’s stock worth $764,000 after purchasing an additional 4,701 shares in the last quarter. AQR Capital Management LLC lifted its stake in Trustmark by 230.8% during the first quarter. AQR Capital Management LLC now owns 97,234 shares of the financial services provider’s stock valued at $3,327,000 after buying an additional 67,841 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Trustmark by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,217 shares of the financial services provider’s stock valued at $1,249,000 after buying an additional 1,592 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Trustmark by 12.4% in the first quarter. Millennium Management LLC now owns 197,652 shares of the financial services provider’s stock worth $6,817,000 after buying an additional 21,866 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Trustmark by 17.2% in the first quarter. Goldman Sachs Group Inc. now owns 470,756 shares of the financial services provider’s stock worth $16,236,000 after buying an additional 69,110 shares during the period. 67.64% of the stock is owned by institutional investors and hedge funds.

Trustmark Trading Up 4.5%

Shares of TRMK stock opened at $47.45 on Friday. The stock has a 50-day simple moving average of $46.79 and a 200 day simple moving average of $44.90. The stock has a market capitalization of $2.76 billion, a P/E ratio of 12.04 and a beta of 0.64. Trustmark has a fifty-two week low of $36.33 and a fifty-two week high of $49.00. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11.

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

Trustmark Dividend Announcement

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

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.