Trustmark Co. (NASDAQ:TRMK) Receives Consensus Recommendation of “Hold” from Analysts

Trustmark Co. (NASDAQ:TRMK) has received a consensus recommendation of “Hold” from the five brokerages that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold rating. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $30.00.

Several research firms have recently commented on TRMK. Truist Financial decreased their target price on shares of Trustmark from $25.00 to $23.00 and set a “hold” rating for the company in a research report on Wednesday, September 27th. StockNews.com began coverage on Trustmark in a report on Thursday, October 5th. They set a “hold” rating for the company. Keefe, Bruyette & Woods upped their price target on shares of Trustmark from $26.00 to $28.00 and gave the company a “market perform” rating in a research note on Thursday, July 27th. Finally, Piper Sandler increased their target price on Trustmark from $25.00 to $27.00 in a research report on Thursday, July 27th.

Trustmark Price Performance

Shares of TRMK opened at $21.15 on Tuesday. The business’s fifty day moving average is $21.31 and its 200 day moving average is $22.35. Trustmark has a 12-month low of $18.96 and a 12-month high of $38.12. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.29 billion, a P/E ratio of 13.56 and a beta of 0.81.

Trustmark Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date is Thursday, November 30th. Trustmark’s payout ratio is 58.97%.

Institutional Investors Weigh In On Trustmark

A number of institutional investors have recently made changes to their positions in the company. FMR LLC boosted its holdings in Trustmark by 1.3% in the second quarter. FMR LLC now owns 27,900 shares of the financial services provider’s stock worth $814,000 after purchasing an additional 349 shares during the last quarter. Advisor Group Holdings Inc. lifted its stake in shares of Trustmark by 2.6% in the 4th quarter. Advisor Group Holdings Inc. now owns 15,097 shares of the financial services provider’s stock worth $528,000 after purchasing an additional 389 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Trustmark by 1.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 23,981 shares of the financial services provider’s stock valued at $837,000 after acquiring an additional 399 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Trustmark by 1.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 31,861 shares of the financial services provider’s stock worth $930,000 after buying an additional 410 shares in the last quarter. Finally, KBC Group NV boosted its stake in Trustmark by 11.8% during the first quarter. KBC Group NV now owns 5,302 shares of the financial services provider’s stock valued at $131,000 after buying an additional 560 shares during the last quarter. Hedge funds and other institutional investors own 65.26% of the company’s stock.

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.