Trustmark Corporation (NASDAQ:TRMK) Receives $41.00 Consensus Target Price from Analysts

Trustmark Corporation (NASDAQ:TRMK) has been given a consensus rating of “Hold” by the six analysts that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $41.00.

Several research analysts recently commented on TRMK shares. Zacks Research cut Trustmark from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Hovde Group boosted their target price on Trustmark from $37.00 to $41.00 and gave the stock a “market perform” rating in a research note on Thursday, July 24th. Wall Street Zen cut Trustmark from a “buy” rating to a “hold” rating in a research note on Saturday, June 7th. Finally, DA Davidson boosted their target price on Trustmark from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th.

Trustmark Price Performance

TRMK stock opened at $40.16 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $2.42 billion, a PE ratio of 11.28 and a beta of 0.71. Trustmark has a 12-month low of $29.77 and a 12-month high of $41.33. The business’s fifty day moving average price is $39.13 and its 200 day moving average price is $36.24.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, July 22nd. The financial services provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.86 by $0.06. Trustmark had a return on equity of 10.81% and a net margin of 19.21%.The firm had revenue of $203.44 million during the quarter, compared to analysts’ expectations of $200.35 million. During the same period in the previous year, the firm posted $0.66 EPS. On average, sell-side analysts anticipate that Trustmark will post 3.42 EPS for the current year.

Trustmark Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 1st were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, August 29th. Trustmark’s dividend payout ratio is currently 26.97%.

Insider Activity

In other news, Director Gerard R. Host sold 20,970 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $6,095,276.40. This represents a 11.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Marcelo L. Eduardo sold 700 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $38.49, for a total value of $26,943.00. Following the transaction, the director directly owned 8,577 shares of the company’s stock, valued at approximately $330,128.73. This represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,226 shares of company stock valued at $897,299. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP boosted its position in shares of Trustmark by 34.2% during the 1st quarter. Wellington Management Group LLP now owns 3,318,799 shares of the financial services provider’s stock worth $114,465,000 after acquiring an additional 846,238 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Trustmark by 11.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 993,941 shares of the financial services provider’s stock valued at $34,281,000 after purchasing an additional 99,134 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Trustmark by 17.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 470,756 shares of the financial services provider’s stock valued at $16,236,000 after purchasing an additional 69,110 shares during the period. Fisher Asset Management LLC boosted its position in shares of Trustmark by 13.6% in the 2nd quarter. Fisher Asset Management LLC now owns 413,465 shares of the financial services provider’s stock valued at $15,075,000 after purchasing an additional 49,540 shares during the period. Finally, Federated Hermes Inc. boosted its position in shares of Trustmark by 0.6% in the 2nd quarter. Federated Hermes Inc. now owns 343,945 shares of the financial services provider’s stock valued at $12,540,000 after purchasing an additional 2,018 shares during the period. 67.64% of the stock is owned by institutional investors and hedge funds.

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.