Trustmark Corporation (NASDAQ:TRMK) Receives $44.75 Consensus Target Price from Analysts

Trustmark Corporation (NASDAQ:TRMK) has been assigned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $44.75.

A number of research analysts have commented on TRMK shares. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $45.00 target price on shares of Trustmark in a research report on Thursday, April 9th. Weiss Ratings raised shares of Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 1st. Piper Sandler increased their price objective on shares of Trustmark from $44.00 to $45.50 and gave the company a “neutral” rating in a research note on Thursday, April 30th. DA Davidson reissued a “neutral” rating and set a $44.00 price objective on shares of Trustmark in a report on Wednesday, April 29th. Finally, Wall Street Zen raised shares of Trustmark from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd.

Trustmark Price Performance

TRMK opened at $46.88 on Thursday. Trustmark has a 12-month low of $36.05 and a 12-month high of $48.00. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11. The business’s fifty day simple moving average is $45.09 and its 200-day simple moving average is $43.53. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of 12.40 and a beta of 0.65.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.08. Trustmark had a return on equity of 10.74% and a net margin of 20.12%.The firm had revenue of $208.07 million during the quarter, compared to the consensus estimate of $204.98 million. During the same period in the previous year, the company posted $0.88 earnings per share. On average, equities research analysts anticipate that Trustmark will post 3.92 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Monday, June 1st. Trustmark’s dividend payout ratio (DPR) is 26.46%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Royal Bank of Canada lifted its stake in shares of Trustmark by 27.0% during the 1st quarter. Royal Bank of Canada now owns 22,127 shares of the financial services provider’s stock worth $764,000 after purchasing an additional 4,701 shares during the last quarter. AQR Capital Management LLC grew its stake in Trustmark by 230.8% in the first quarter. AQR Capital Management LLC now owns 97,234 shares of the financial services provider’s stock valued at $3,327,000 after purchasing an additional 67,841 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Trustmark by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,217 shares of the financial services provider’s stock valued at $1,249,000 after purchasing an additional 1,592 shares during the last quarter. Millennium Management LLC raised its holdings in Trustmark by 12.4% in the first quarter. Millennium Management LLC now owns 197,652 shares of the financial services provider’s stock worth $6,817,000 after purchasing an additional 21,866 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Trustmark by 17.2% in the first quarter. Goldman Sachs Group Inc. now owns 470,756 shares of the financial services provider’s stock worth $16,236,000 after purchasing an additional 69,110 shares in the last quarter. 67.64% of the stock is owned by institutional investors.

Trustmark Company Profile

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.