Analysts Set Trustmark Corporation (NASDAQ:TRMK) Price Target at $42.25

Trustmark Corporation (NASDAQ:TRMK) has received a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $42.25.

Several brokerages recently issued reports on TRMK. Weiss Ratings reiterated a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, October 8th. Zacks Research lowered Trustmark from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. DA Davidson raised their target price on Trustmark from $39.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Finally, Hovde Group boosted their price target on Trustmark from $37.00 to $41.00 and gave the stock a “market perform” rating in a research report on Thursday, July 24th.

Trustmark Trading Up 0.4%

Shares of TRMK stock opened at $38.32 on Friday. 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 fifty-two week low of $29.77 and a fifty-two week high of $41.33. The firm’s 50 day moving average price is $39.15 and its two-hundred day moving average price is $37.51. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of 10.47 and a beta of 0.70.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.01). The business had revenue of $207.53 million during the quarter, compared to analyst estimates of $206.13 million. Trustmark had a return on equity of 10.90% and a net margin of 19.82%.Trustmark’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.84 EPS. On average, analysts anticipate that Trustmark will post 3.42 EPS for the current year.

Trustmark Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, December 1st. Trustmark’s payout ratio is presently 26.23%.

Insider Buying and Selling

In other news, Director Gerard R. Host sold 20,970 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $38.49, for a total transaction of $807,135.30. Following the completion of the transaction, the director directly owned 158,360 shares in the company, valued at approximately $6,095,276.40. This represents a 11.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Marcelo L. Eduardo sold 700 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $38.49, for a total transaction of $26,943.00. Following the transaction, the director owned 8,577 shares in the company, valued at $330,128.73. This trade represents a 7.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 23,226 shares of company stock worth $897,299. 1.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Trustmark

A number of hedge funds have recently added to or reduced their stakes in TRMK. Richardson Financial Services Inc. grew its position in shares of Trustmark by 86.7% during the third quarter. Richardson Financial Services Inc. now owns 743 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 345 shares during the last quarter. Bessemer Group Inc. raised its stake in Trustmark by 37.4% during the 3rd quarter. Bessemer Group Inc. now owns 1,073 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 292 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Trustmark by 452.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 1,022 shares during the period. IFP Advisors Inc bought a new position in shares of Trustmark in the first quarter worth $51,000. Finally, State of Wyoming acquired a new position in shares of Trustmark during the first quarter valued at $52,000. 67.64% of the stock is currently owned by institutional investors.

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.