Analysts Set Trustmark Co. (NASDAQ:TRMK) Price Target at $32.75

Shares of Trustmark Co. (NASDAQ:TRMK - Get Free Report) have been given a consensus rating of "Hold" by the four brokerages that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $32.75.

A number of analysts recently issued reports on the stock. TheStreet upgraded shares of Trustmark from a "c+" rating to a "b" rating in a report on Tuesday, January 23rd. Keefe, Bruyette & Woods upgraded shares of Trustmark from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $30.00 to $36.00 in a research note on Thursday, April 25th. Piper Sandler reiterated a "neutral" rating and issued a $29.00 price objective on shares of Trustmark in a research note on Tuesday, March 26th. DA Davidson increased their price objective on Trustmark from $30.00 to $34.00 and gave the company a "neutral" rating in a report on Thursday, April 25th. Finally, Truist Financial raised their target price on Trustmark from $30.00 to $32.00 and gave the stock a "hold" rating in a research report on Friday, April 26th.

Trustmark Stock Performance

Shares of Trustmark stock traded down $0.25 during mid-day trading on Tuesday, hitting $30.46. 271,427 shares of the stock were exchanged, compared to its average volume of 283,415. The company has a market capitalization of $1.86 billion, a P/E ratio of 11.95 and a beta of 0.78. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.83 and a current ratio of 0.84. The company has a 50-day simple moving average of $27.30 and a 200 day simple moving average of $25.98. Trustmark has a 12 month low of $18.96 and a 12 month high of $31.23.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.08. Trustmark had a return on equity of 10.04% and a net margin of 13.82%. The business had revenue of $288.55 million for the quarter, compared to analysts' expectations of $187.03 million. During the same quarter in the previous year, the firm earned $0.82 earnings per share. Sell-side analysts anticipate that Trustmark will post 2.77 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st will be given a dividend of $0.23 per share. The ex-dividend date is Friday, May 31st. This represents a $0.92 annualized dividend and a dividend yield of 3.02%. Trustmark's dividend payout ratio is currently 35.80%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in shares of Trustmark during the 3rd quarter valued at $535,000. Commonwealth Equity Services LLC raised its holdings in shares of Trustmark by 4.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 12,824 shares of the financial services provider's stock valued at $279,000 after acquiring an additional 587 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Trustmark by 29.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,369 shares of the financial services provider's stock valued at $269,000 after acquiring an additional 2,813 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Trustmark during the 3rd quarter valued at about $562,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Trustmark by 1,029.7% during the third quarter. Nisa Investment Advisors LLC now owns 6,055 shares of the financial services provider's stock worth $132,000 after purchasing an additional 5,519 shares in the last quarter. Institutional investors own 67.64% of the company's stock.

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.