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

Shares of Trustmark Co. (NASDAQ:TRMK) have been assigned an average rating of “Hold” from the five research firms that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $39.80.

Several equities research analysts have commented on the company. Janney Montgomery Scott assumed coverage on Trustmark in a report on Friday, January 24th. They issued a “buy” rating and a $42.00 target price on the stock. DA Davidson increased their price objective on shares of Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, 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 research note on Thursday.

Trustmark Price Performance

TRMK opened at $33.34 on Tuesday. The stock’s 50 day moving average price is $33.96 and its 200-day moving average price is $35.63. Trustmark has a 52-week low of $27.42 and a 52-week high of $40.73. The stock has a market capitalization of $2.03 billion, a PE ratio of 9.16 and a beta of 0.67. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87.

Trustmark (NASDAQ:TRMK) last posted its earnings results on Tuesday, April 22nd. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. The firm had revenue of $231.83 million for the quarter, compared to the consensus estimate of $195.38 million. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. On average, equities research analysts predict that Trustmark will post 3.42 EPS for the current year.

Trustmark Dividend Announcement

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

Institutional Investors Weigh In On Trustmark

A number of large investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp purchased a new position in shares of Trustmark in the 4th quarter worth $37,000. Lazard Asset Management LLC bought a new position in Trustmark in the fourth quarter valued at about $47,000. GAMMA Investing LLC boosted its position in Trustmark by 41.0% in the first quarter. GAMMA Investing LLC now owns 1,809 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 526 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of Trustmark by 817.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,918 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 1,709 shares during the period. Finally, Mascagni Wealth Management Inc. bought a new position in shares of Trustmark in the 4th quarter worth approximately $82,000. Institutional investors own 67.64% of the company’s stock.

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.