Brokerages Set Trustmark Corporation (NASDAQ:TRMK) Target Price at $43.83

Trustmark Corporation (NASDAQ:TRMK) has earned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $43.8333.

TRMK has been the subject of several research analyst reports. Brean Capital began coverage on Trustmark in a research report on Thursday. They set a “buy” rating for the company. Hovde Group lifted their price objective on shares of Trustmark from $42.00 to $44.50 and gave the company a “market perform” rating in a report on Thursday, January 29th. DA Davidson boosted their target price on shares of Trustmark from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. Wall Street Zen raised shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, January 21st.

Institutional Investors Weigh In On Trustmark

Several institutional investors and hedge funds have recently made changes to their positions in TRMK. UBS Group AG increased its position in shares of Trustmark by 282.0% in the 4th quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock valued at $24,944,000 after acquiring an additional 472,751 shares during the period. Wellington Management Group LLP lifted its position in Trustmark by 8.9% during the 3rd quarter. Wellington Management Group LLP now owns 3,883,882 shares of the financial services provider’s stock worth $153,802,000 after acquiring an additional 316,851 shares during the period. Bridgeway Capital Management LLC grew its stake in Trustmark by 156.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 389,333 shares of the financial services provider’s stock valued at $15,165,000 after purchasing an additional 237,266 shares during the last quarter. American Century Companies Inc. grew its stake in Trustmark by 30.5% during the 3rd quarter. American Century Companies Inc. now owns 564,180 shares of the financial services provider’s stock valued at $22,342,000 after purchasing an additional 132,023 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of Trustmark by 107.6% in the fourth quarter. Empowered Funds LLC now owns 245,602 shares of the financial services provider’s stock valued at $9,566,000 after purchasing an additional 127,284 shares during the period. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Trustmark Trading Down 0.8%

TRMK opened at $40.85 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.89. The stock’s 50 day moving average price is $42.42 and its 200-day moving average price is $40.39. Trustmark has a one year low of $29.77 and a one year high of $45.43. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 11.01 and a beta of 0.68.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. Trustmark had a return on equity of 10.77% and a net margin of 19.95%.The firm had revenue of $209.44 million during the quarter, compared to analyst estimates of $207.05 million. During the same period last year, the company earned $0.92 EPS. On average, equities analysts forecast that Trustmark will post 3.42 EPS for the current year.

Trustmark Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, March 15th. Investors of record on Sunday, March 1st were paid a $0.25 dividend. This is a boost from Trustmark’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, February 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.4%. Trustmark’s dividend payout ratio (DPR) is 26.95%.

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.