Brokerages Set Trustmark Co. (NASDAQ:TRMK) Price Target at $40.60

Trustmark Co. (NASDAQ:TRMK - Get Free Report) has been given an average rating of "Hold" by the five ratings firms that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $39.80.

Several equities analysts have recently weighed in on TRMK shares. Keefe, Bruyette & Woods decreased their price objective on Trustmark from $45.00 to $43.00 and set an "outperform" rating for the company in a report on Thursday. DA Davidson increased their price objective on Trustmark from $40.00 to $41.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. Finally, Janney Montgomery Scott began coverage on shares of Trustmark in a report on Friday, January 24th. They set a "buy" rating and a $42.00 target price on the stock.

Trustmark Stock Down 0.4 %

Shares of NASDAQ:TRMK traded down $0.13 during mid-day trading on Tuesday, reaching $33.34. 358,442 shares of the stock were exchanged, compared to its average volume of 298,767. The stock's 50 day simple moving average is $33.96 and its 200-day simple moving average is $35.63. Trustmark has a one year low of $27.42 and a one year high of $40.73. The company has a market cap of $2.03 billion, a P/E ratio of 9.16 and a beta of 0.67. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.06. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. The company had revenue of $231.83 million for the quarter, compared to the consensus estimate of $195.38 million. As a group, equities research analysts predict that Trustmark will post 3.42 EPS for the current year.

Trustmark Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Friday, May 30th. Trustmark's payout ratio is presently 25.00%.

Institutional Trading of Trustmark

Hedge funds have recently modified their holdings of the stock. Barclays PLC boosted its stake in Trustmark by 124.7% in the 3rd quarter. Barclays PLC now owns 125,743 shares of the financial services provider's stock valued at $4,001,000 after purchasing an additional 69,779 shares during the period. Principal Financial Group Inc. grew its stake in shares of Trustmark by 6.8% in the third quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider's stock valued at $19,059,000 after acquiring an additional 37,989 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Trustmark by 10.7% in the third quarter. JPMorgan Chase & Co. now owns 122,956 shares of the financial services provider's stock valued at $3,912,000 after acquiring an additional 11,934 shares in the last quarter. Geode Capital Management LLC raised its stake in Trustmark by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,461,545 shares of the financial services provider's stock worth $46,515,000 after purchasing an additional 15,627 shares in the last quarter. Finally, World Investment Advisors LLC bought a new stake in Trustmark in the 3rd quarter valued at about $499,000. Institutional investors and hedge funds 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.