Trustmark Co. (NASDAQ:TRMK) Receives $38.67 Average PT from Brokerages

Trustmark Co. (NASDAQ:TRMK) has been given a consensus recommendation of “Hold” by the six ratings firms that are presently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $38.67.

Several analysts recently issued reports on TRMK shares. DA Davidson boosted their target price on shares of Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Janney Montgomery Scott initiated coverage on shares of Trustmark in a report on Friday, January 24th. They set a “buy” rating and a $42.00 price target on the stock. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Trustmark from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, February 3rd.

Hedge Funds Weigh In On Trustmark

Several hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio lifted its holdings in shares of Trustmark by 165.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 3,289 shares of the financial services provider’s stock worth $116,000 after buying an additional 2,051 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Trustmark by 18.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 126,552 shares of the financial services provider’s stock worth $4,476,000 after buying an additional 19,482 shares in the last quarter. Waverly Advisors LLC lifted its holdings in shares of Trustmark by 13.3% in the fourth quarter. Waverly Advisors LLC now owns 35,019 shares of the financial services provider’s stock worth $1,239,000 after buying an additional 4,121 shares in the last quarter. Vident Advisory LLC purchased a new position in shares of Trustmark in the fourth quarter worth $220,000. Finally, Squarepoint Ops LLC lifted its holdings in shares of Trustmark by 70.4% in the fourth quarter. Squarepoint Ops LLC now owns 39,409 shares of the financial services provider’s stock worth $1,394,000 after buying an additional 16,287 shares in the last quarter. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Trustmark Stock Performance

Shares of NASDAQ TRMK opened at $34.54 on Monday. The firm has a 50 day moving average of $36.18 and a 200 day moving average of $35.35. 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 firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 9.49 and a beta of 0.71. Trustmark has a 12-month low of $25.24 and a 12-month high of $40.73.

Trustmark (NASDAQ:TRMK) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts anticipate that Trustmark will post 3.42 earnings per share for the current year.

Trustmark Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Trustmark’s previous quarterly dividend of $0.23. Trustmark’s payout ratio is 26.37%.

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.