Trustmark Co. (NASDAQ:TRMK) Given Average Rating of “Hold” by Brokerages

Shares of Trustmark Co. (NASDAQ:TRMK) have been assigned an average recommendation of “Hold” from the five analysts that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $35.20.

TRMK has been the topic of several recent analyst reports. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Truist Financial raised their target price on Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. DA Davidson upped their price target on Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Finally, Hovde Group raised their price objective 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.

Insider Activity

In related news, Director Marcelo L. Eduardo sold 790 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total transaction of $28,353.10. Following the completion of the sale, the director now owns 7,334 shares in the company, valued at $263,217.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of Trustmark

Hedge funds and other institutional investors have recently made changes to their positions in the company. American Century Companies Inc. increased its position in Trustmark by 25.3% during the 2nd quarter. American Century Companies Inc. now owns 986,322 shares of the financial services provider’s stock worth $29,629,000 after purchasing an additional 199,245 shares during the period. Stieven Capital Advisors L.P. raised its position in Trustmark by 57.2% in the first quarter. Stieven Capital Advisors L.P. now owns 503,000 shares of the financial services provider’s stock worth $14,139,000 after acquiring an additional 183,100 shares in the last quarter. Hanson & Doremus Investment Management purchased a new position in Trustmark in the second quarter worth $4,199,000. Earnest Partners LLC lifted its holdings in Trustmark by 3.1% in the second quarter. Earnest Partners LLC now owns 3,442,019 shares of the financial services provider’s stock valued at $103,398,000 after acquiring an additional 102,268 shares during the period. Finally, Kennedy Capital Management LLC purchased a new stake in shares of Trustmark during the 1st quarter worth $2,604,000. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Trustmark Trading Down 0.7 %

TRMK opened at $33.97 on Tuesday. Trustmark has a 52 week low of $20.74 and a 52 week high of $36.14. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The business has a fifty day simple moving average of $32.95 and a 200-day simple moving average of $31.38. The firm has a market cap of $2.08 billion, a P/E ratio of 10.26 and a beta of 0.72.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. The firm had revenue of $192.30 million during the quarter, compared to analysts’ expectations of $192.77 million. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. During the same quarter in the previous year, the business posted $0.64 earnings per share. On average, equities analysts expect that Trustmark will post 2.93 earnings per share for the current year.

Trustmark Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.71%. Trustmark’s dividend payout ratio (DPR) is presently 27.79%.

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.