Trustmark Co. (NASDAQ:TRMK) Receives $29.67 Consensus Target Price from Analysts

Shares of Trustmark Co. (NASDAQ:TRMK - Get Free Report) have been assigned a consensus recommendation of "Hold" from the four ratings firms that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $29.67.

A number of research firms recently commented on TRMK. Keefe, Bruyette & Woods lifted their price target on Trustmark from $27.00 to $30.00 and gave the stock a "market perform" rating in a research note on Friday, January 26th. DA Davidson reiterated a "neutral" rating on shares of Trustmark in a research note on Monday, January 15th. Piper Sandler reiterated a "neutral" rating and issued a $29.00 price target on shares of Trustmark in a research note on Tuesday, March 26th. TheStreet upgraded Trustmark from a "c+" rating to a "b" rating in a research note on Tuesday, January 23rd. Finally, StockNews.com downgraded Trustmark from a "hold" rating to a "sell" rating in a research note on Thursday.

Trustmark Stock Down 0.9 %

Shares of Trustmark stock traded down $0.23 during trading hours on Friday, hitting $26.20. 236,670 shares of the company's stock traded hands, compared to its average volume of 270,877. The company has a market cap of $1.60 billion, a PE ratio of 9.67 and a beta of 0.82. Trustmark has a twelve month low of $18.96 and a twelve month high of $28.65. The stock has a 50 day simple moving average of $26.81 and a 200-day simple moving average of $25.14. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.11.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.04. The business had revenue of $189.85 million during the quarter, compared to the consensus estimate of $187.63 million. Trustmark had a return on equity of 10.77% and a net margin of 15.06%. The company's revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.68 earnings per share. Equities research analysts anticipate that Trustmark will post 2.44 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.23 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.92 dividend on an annualized basis and a yield of 3.51%. Trustmark's payout ratio is currently 33.95%.

Institutional Investors Weigh In On Trustmark

A number of hedge funds have recently made changes to their positions in TRMK. Vanguard Group Inc. raised its holdings in Trustmark by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 6,712,905 shares of the financial services provider's stock worth $187,156,000 after purchasing an additional 50,795 shares in the last quarter. Wellington Management Group LLP bought a new stake in Trustmark during the fourth quarter worth approximately $12,572,000. Price T Rowe Associates Inc. MD grew its position in Trustmark by 3.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 43,961 shares of the financial services provider's stock worth $1,226,000 after buying an additional 1,621 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Trustmark in the fourth quarter worth approximately $203,000. Finally, Legal & General Group Plc grew its position in Trustmark by 0.3% in the fourth quarter. Legal & General Group Plc now owns 167,034 shares of the financial services provider's stock worth $4,657,000 after buying an additional 546 shares during the last quarter. Institutional investors own 67.64% of the company's stock.

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.