Trustmark Corporation (NASDAQ:TRMK) Receives $41.00 Average PT from Analysts

Key Points

• Trustmark Corporation has received a consensus recommendation of "Hold" from analysts, with three holding and two buying ratings, and an average 12-month price target of $41.00.
• The company reported earnings of $0.92 per share for the last quarter, exceeding analyst expectations, and projected earnings of $3.42 per share for the current fiscal year.
• Trustmark announced a quarterly dividend of $0.24 per share, reflecting a 2.56% yield and a payout ratio of approximately 27%.

Shares of Trustmark Corporation (NASDAQ:TRMK - Get Free Report) have been given a consensus rating of "Hold" by the five brokerages that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $41.00.

Several research firms have issued reports on TRMK. Hovde Group boosted their price objective on Trustmark from $37.00 to $41.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. DA Davidson boosted their price objective on Trustmark from $39.00 to $43.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Wall Street Zen downgraded Trustmark from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Finally, Keefe, Bruyette & Woods dropped their target price on Trustmark from $45.00 to $43.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th.

Institutional Investors Weigh In On Trustmark

Several large investors have recently made changes to their positions in TRMK. Wellington Management Group LLP boosted its position in Trustmark by 82.2% during the fourth quarter. Wellington Management Group LLP now owns 2,472,561 shares of the financial services provider's stock worth $87,454,000 after purchasing an additional 1,115,708 shares during the period. JPMorgan Chase & Co. boosted its position in Trustmark by 176.2% during the fourth quarter. JPMorgan Chase & Co. now owns 339,662 shares of the financial services provider's stock worth $12,014,000 after purchasing an additional 216,706 shares during the period. Trustmark National Bank Trust Department boosted its position in Trustmark by 129.6% during the fourth quarter. Trustmark National Bank Trust Department now owns 299,423 shares of the financial services provider's stock worth $10,591,000 after purchasing an additional 169,011 shares during the period. Nuveen LLC bought a new stake in shares of Trustmark in the first quarter valued at approximately $5,697,000. Finally, Norges Bank bought a new stake in shares of Trustmark in the fourth quarter valued at approximately $5,704,000. Institutional investors own 67.64% of the company's stock.

Trustmark Price Performance

Trustmark stock traded down $0.69 during midday trading on Thursday, hitting $36.56. The company's stock had a trading volume of 419,302 shares, compared to its average volume of 323,960. The company has a market capitalization of $2.21 billion, a PE ratio of 10.27 and a beta of 0.66. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The stock's 50-day moving average price is $36.33 and its 200-day moving average price is $35.43. Trustmark has a 12 month low of $29.77 and a 12 month high of $40.73.

Trustmark (NASDAQ:TRMK - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.06. The business had revenue of $203.44 million for the quarter, compared to analysts' expectations of $200.35 million. Trustmark had a return on equity of 10.81% and a net margin of 19.21%. During the same period in the previous year, the firm posted $0.66 EPS. Analysts anticipate 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 Monday, September 15th. Investors of record on Monday, September 1st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.6%. Trustmark's payout ratio is presently 26.97%.

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.