Keefe, Bruyette & Woods Increases Trustmark (NASDAQ:TRMK) Price Target to $47.00

Trustmark (NASDAQ:TRMK - Free Report) had its target price lifted by Keefe, Bruyette & Woods from $45.00 to $47.00 in a research report sent to investors on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider's stock.

TRMK has been the subject of several other reports. Janney Montgomery Scott started coverage on shares of Trustmark in a report on Friday, January 24th. They issued a "buy" rating and a $42.00 price target for the company. Truist Financial lifted their price target on Trustmark from $35.00 to $36.00 and gave the company a "hold" rating in a research report on Friday, October 25th. Hovde Group raised their target price on shares of Trustmark from $34.00 to $37.00 and gave the company a "market perform" rating in a research note on Tuesday, October 29th. DA Davidson upped their target price on shares of Trustmark from $40.00 to $41.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. Finally, StockNews.com upgraded Trustmark from a "sell" rating to a "hold" rating in a report on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $38.67.

Trustmark Stock Performance

Shares of NASDAQ:TRMK traded up $0.48 during mid-day trading on Monday, reaching $38.83. The company had a trading volume of 180,256 shares, compared to its average volume of 306,181. Trustmark has a one year low of $25.24 and a one year high of $40.73. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The company's 50-day moving average price is $36.34 and its 200-day moving average price is $34.73. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 10.67 and a beta of 0.76.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.09. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. As a group, equities research analysts anticipate that Trustmark will post 3.4 EPS for the current fiscal year.

Trustmark Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Friday, February 28th. This is a positive change from Trustmark's previous quarterly dividend of $0.23. Trustmark's payout ratio is currently 25.27%.

Insider Transactions at Trustmark

In other news, Director Gerard R. Host sold 7,000 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $38.59, for a total transaction of $270,130.00. Following the transaction, the director now directly owns 16,500 shares of the company's stock, valued at $636,735. This represents a 29.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.50% of the company's stock.

Institutional Trading of Trustmark

Large investors have recently added to or reduced their stakes in the business. Barclays PLC grew its holdings in Trustmark by 124.7% during the third quarter. Barclays PLC now owns 125,743 shares of the financial services provider's stock valued at $4,001,000 after purchasing an additional 69,779 shares during the period. Principal Financial Group Inc. lifted its holdings in Trustmark by 6.8% during the third quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider's stock valued at $19,059,000 after purchasing an additional 37,989 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Trustmark by 10.7% in the third quarter. JPMorgan Chase & Co. now owns 122,956 shares of the financial services provider's stock worth $3,912,000 after purchasing an additional 11,934 shares during the period. State Street Corp increased its stake in shares of Trustmark by 0.8% in the third quarter. State Street Corp now owns 3,090,988 shares of the financial services provider's stock worth $98,355,000 after purchasing an additional 24,450 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Trustmark by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,461,545 shares of the financial services provider's stock valued at $46,515,000 after purchasing an additional 15,627 shares during the period. 67.64% of the stock is currently owned by institutional investors.

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.