Brokerages Set Trustmark Co. (NASDAQ:TRMK) Target Price at $35.20

Trustmark Co. (NASDAQ:TRMK - Get Free Report) has been given an average rating of "Hold" by the five analysts that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $35.20.

Several equities research analysts have commented on TRMK shares. Truist Financial boosted their price objective on Trustmark from $35.00 to $36.00 and gave the stock a "hold" rating in a research note on Friday, October 25th. StockNews.com upgraded Trustmark from a "sell" rating to a "hold" rating in a report on Thursday, October 24th. Hovde Group upped their target price on shares of Trustmark from $34.00 to $37.00 and gave the stock a "market perform" rating in a report on Tuesday, October 29th. Finally, DA Davidson raised their price target on shares of Trustmark from $35.00 to $38.00 and gave the stock a "neutral" rating in a research note on Thursday, October 24th.

Insider Buying and Selling

In related news, Director Gerard R. Host sold 26,416 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $39.73, for a total transaction of $1,049,507.68. Following the completion of the transaction, the director now owns 26,792 shares of the company's stock, valued at approximately $1,064,446.16. This trade represents a 49.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Marcelo L. Eduardo sold 790 shares of Trustmark stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total value of $28,353.10. Following the completion of the transaction, the director now owns 7,334 shares of the company's stock, valued at $263,217.26. The trade was a 9.72 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,206 shares of company stock worth $1,347,991. Insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Trustmark

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in Trustmark by 62.1% in the second quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 351 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Trustmark by 2.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 17,356 shares of the financial services provider's stock valued at $552,000 after buying an additional 415 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of Trustmark by 2.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 30,800 shares of the financial services provider's stock valued at $925,000 after buying an additional 600 shares during the last quarter. CWM LLC raised its stake in Trustmark by 14.6% during the 2nd quarter. CWM LLC now owns 4,783 shares of the financial services provider's stock worth $144,000 after acquiring an additional 611 shares in the last quarter. Finally, Barnes Pettey Financial Advisors LLC lifted its position in Trustmark by 9.2% in the second quarter. Barnes Pettey Financial Advisors LLC now owns 8,882 shares of the financial services provider's stock valued at $267,000 after acquiring an additional 750 shares during the last quarter. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Trustmark Price Performance

Shares of TRMK stock traded up $1.08 during trading hours on Friday, hitting $39.28. 724,136 shares of the company's stock were exchanged, compared to its average volume of 339,854. The firm has a 50 day moving average of $34.59 and a two-hundred day moving average of $32.22. Trustmark has a fifty-two week low of $22.11 and a fifty-two week high of $40.60. The firm has a market cap of $2.40 billion, a P/E ratio of 11.87 and a beta of 0.72. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.02. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. The business had revenue of $192.30 million for the quarter, compared to the consensus estimate of $192.77 million. During the same period last year, the firm posted $0.64 earnings per share. Sell-side analysts forecast that Trustmark will post 2.94 EPS for the current year.

Trustmark Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Friday, November 29th. Trustmark's dividend payout ratio is currently 27.79%.

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.