Trustmark Co. (NASDAQ:TRMK) Receives $39.80 Consensus Price Target from Brokerages

Shares of Trustmark Co. (NASDAQ:TRMK - Get Free Report) have been given an average recommendation of "Hold" by the five research firms that are presently covering the stock, MarketBeat.com reports. Three investment 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 brokers that have issued a report on the stock in the last year is $39.80.

TRMK has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Trustmark from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Keefe, Bruyette & Woods reduced their price objective on shares of Trustmark from $45.00 to $43.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Finally, Hovde Group raised their price objective on shares of Trustmark from $36.00 to $37.00 and gave the stock a "market perform" rating in a report on Monday, April 28th.

Hedge Funds Weigh In On Trustmark

Several institutional investors have recently added to or reduced their stakes in TRMK. CIBC Asset Management Inc bought a new position in Trustmark during the 4th quarter valued at about $217,000. New York State Common Retirement Fund raised its stake in shares of Trustmark by 8.3% in the fourth quarter. New York State Common Retirement Fund now owns 19,513 shares of the financial services provider's stock worth $690,000 after acquiring an additional 1,500 shares during the last quarter. Element Wealth LLC raised its stake in shares of Trustmark by 6.3% in the fourth quarter. Element Wealth LLC now owns 9,018 shares of the financial services provider's stock worth $319,000 after acquiring an additional 533 shares during the last quarter. BankPlus Trust Department bought a new position in shares of Trustmark in the fourth quarter worth about $842,000. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Trustmark by 1.0% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 54,274 shares of the financial services provider's stock worth $1,920,000 after acquiring an additional 528 shares during the last quarter. 67.64% of the stock is owned by institutional investors.

Trustmark Stock Performance

NASDAQ TRMK traded down $0.64 during midday trading on Wednesday, hitting $33.96. The company had a trading volume of 280,558 shares, compared to its average volume of 305,512. The firm has a fifty day simple moving average of $34.18 and a two-hundred day simple moving average of $35.27. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 9.33 and a beta of 0.66. Trustmark has a fifty-two week low of $27.90 and a fifty-two week high of $40.73. 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 released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.06. The company had revenue of $231.83 million during the quarter, compared to the consensus estimate of $195.38 million. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. Equities analysts forecast that Trustmark will post 3.42 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 2.83%. The ex-dividend date is Friday, May 30th. Trustmark's dividend payout ratio is currently 25.00%.

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.