Analysts Set Trustmark Corporation (NASDAQ:TRMK) Price Target at $41.00

Key Points

• Trustmark Corporation (NASDAQ:TRMK) has received an average recommendation of "Hold" from five analysts, with three holding and two buying ratings; the average 12-month price target is $41.00.
• Recently, insiders at Trustmark sold a total of 23,226 shares in transactions valued at approximately $897,299, with 1.50% of the stock currently held by company insiders.
• The company reported $0.92 earnings per share for the last quarter, exceeding analysts' expectations, alongside a quarterly dividend of $0.24 per share, reflecting a 2.3% dividend yield.

Shares of Trustmark Corporation (NASDAQ:TRMK - Get Free Report) have been assigned an average recommendation of "Hold" from the five ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $41.00.

A number of equities analysts have recently weighed in on the stock. Wall Street Zen cut shares of Trustmark from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. DA Davidson upped their price target on shares of Trustmark from $39.00 to $43.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Finally, Hovde Group upped their price target on shares of Trustmark from $37.00 to $41.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th.

Trustmark Price Performance

TRMK traded down $0.37 during midday trading on Friday, reaching $40.69. 1,223,203 shares of the company's stock were exchanged, compared to its average volume of 232,905. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 11.43 and a beta of 0.71. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. Trustmark has a one year low of $29.77 and a one year high of $41.33. The business has a 50-day simple moving average of $38.96 and a two-hundred day simple moving average of $36.08.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.06. The company had revenue of $203.44 million during the quarter, compared to analysts' expectations of $200.35 million. Trustmark had a net margin of 19.21% and a return on equity of 10.81%. During the same quarter in the previous year, the company posted $0.66 earnings per share. As a group, research analysts predict that Trustmark will post 3.42 EPS for the current year.

Trustmark Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 1st were given a $0.24 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.96 dividend on an annualized basis and a yield of 2.4%. Trustmark's dividend payout ratio (DPR) is currently 26.97%.

Insider Buying and Selling

In other Trustmark news, Director Gerard R. Host sold 1,556 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $40.63, for a total value of $63,220.28. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Marcelo L. Eduardo sold 700 shares of Trustmark stock in a transaction on Monday, August 18th. The stock was sold at an average price of $38.49, for a total transaction of $26,943.00. Following the transaction, the director directly owned 8,577 shares of the company's stock, valued at $330,128.73. This represents a 7.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,226 shares of company stock worth $897,299 in the last 90 days. Company insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Trustmark

Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in Trustmark in the 1st quarter worth about $508,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Trustmark during the 4th quarter valued at approximately $212,000. Deutsche Bank AG lifted its stake in Trustmark by 54.5% in the 4th quarter. Deutsche Bank AG now owns 52,756 shares of the financial services provider's stock worth $1,866,000 after purchasing an additional 18,603 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Trustmark by 165.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 3,289 shares of the financial services provider's stock valued at $116,000 after buying an additional 2,051 shares in the last quarter. Finally, IFP Advisors Inc purchased a new stake in shares of Trustmark during the 1st quarter valued at $51,000. 67.64% of the stock is owned by institutional investors.

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.