Brokerages Set Trustmark Co. (NASDAQ:TRMK) Price Target at $34.75

Trustmark Co. (NASDAQ:TRMK - Get Free Report) has been given a consensus rating of "Hold" by the five ratings firms that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $35.20.

TRMK has been the subject of a number of recent analyst reports. StockNews.com raised Trustmark from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. Truist Financial upped their price target on Trustmark from $35.00 to $36.00 and gave the stock a "hold" rating in a report on Friday. DA Davidson upped their price target on Trustmark from $35.00 to $38.00 and gave the stock a "neutral" rating in a report on Thursday, October 24th. Finally, Hovde Group upped their price target on Trustmark from $34.00 to $37.00 and gave the stock a "market perform" rating in a report on Tuesday.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. State Board of Administration of Florida Retirement System raised its stake in shares of Trustmark by 101.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 35,048 shares of the financial services provider's stock valued at $985,000 after purchasing an additional 17,670 shares in the last quarter. Kennedy Capital Management LLC acquired a new position in Trustmark during the first quarter worth $2,604,000. Wakefield Asset Management LLLP acquired a new position in Trustmark during the first quarter worth $949,000. Vanguard Group Inc. raised its stake in Trustmark by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 6,712,905 shares of the financial services provider's stock worth $187,156,000 after acquiring an additional 50,795 shares in the last quarter. Finally, Magnolia Capital Advisors LLC acquired a new position in Trustmark during the second quarter worth $1,081,000. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Trustmark Stock Performance

Trustmark stock traded up $0.15 during trading hours on Tuesday, reaching $35.08. 209,957 shares of the company were exchanged, compared to its average volume of 273,241. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of 13.63 and a beta of 0.73. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average of $32.70 and a 200 day moving average of $31.07. Trustmark has a 12 month low of $19.48 and a 12 month high of $35.75.

Trustmark (NASDAQ:TRMK - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.02. The firm had revenue of $192.30 million during the quarter, compared to analysts' expectations of $192.77 million. Trustmark had a return on equity of 9.80% and a net margin of 17.62%. During the same quarter in the prior year, the business earned $0.64 earnings per share. As a group, research analysts anticipate that Trustmark will post 2.92 earnings per share for the current year.

Trustmark Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.62%. 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.