Brokerages Set Trustmark Co. (NASDAQ:TRMK) PT at $35.00

Trustmark Co. (NASDAQ:TRMK - Get Free Report) has been assigned a consensus recommendation of "Hold" from the four ratings firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $35.00.

A number of research analysts have recently issued reports on the company. Truist Financial lifted their price target on Trustmark from $31.00 to $37.00 and gave the company a "hold" rating in a report on Thursday, July 25th. DA Davidson lifted their target price on Trustmark from $34.00 to $38.00 and gave the company a "neutral" rating in a research note on Thursday, July 25th.

Institutional Investors Weigh In On Trustmark

A number of large investors have recently modified their holdings of TRMK. Vanguard Group Inc. grew its holdings in shares of Trustmark by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 6,712,905 shares of the financial services provider's stock valued at $187,156,000 after buying an additional 50,795 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Trustmark by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,050,787 shares of the financial services provider's stock worth $121,683,000 after acquiring an additional 64,334 shares during the period. Earnest Partners LLC grew its stake in Trustmark by 3.1% during the 2nd quarter. Earnest Partners LLC now owns 3,442,019 shares of the financial services provider's stock valued at $103,398,000 after purchasing an additional 102,268 shares during the last quarter. American Century Companies Inc. grew its stake in Trustmark by 25.3% during the 2nd quarter. American Century Companies Inc. now owns 986,322 shares of the financial services provider's stock valued at $29,629,000 after purchasing an additional 199,245 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Trustmark by 6.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 883,423 shares of the financial services provider's stock valued at $24,630,000 after purchasing an additional 52,320 shares during the period. Hedge funds and other institutional investors own 67.64% of the company's stock.

Trustmark Stock Down 1.2 %

Trustmark stock traded down $0.39 during midday trading on Monday, hitting $31.61. 370,334 shares of the company's stock were exchanged, compared to its average volume of 277,188. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 0.87. The company has a market cap of $1.93 billion, a PE ratio of 12.30 and a beta of 0.74. The firm has a 50-day moving average of $32.17 and a two-hundred day moving average of $29.56. Trustmark has a 12 month low of $18.96 and a 12 month high of $35.72.

Trustmark (NASDAQ:TRMK - Get Free Report) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.03. The company had revenue of $283.96 million for the quarter, compared to analyst estimates of $229.83 million. Trustmark had a net margin of 16.24% and a return on equity of 9.32%. During the same period last year, the company posted $0.74 earnings per share. As a group, analysts expect that Trustmark will post 2.93 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.91%. Trustmark's payout ratio is 35.80%.

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.