Brokerages Set Trustmark Corp (TRMK) Target Price at $33.40

Shares of Trustmark Corp (NASDAQ:TRMK) have been assigned a consensus rating of “Hold” from the nine analysts that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $33.40.

TRMK has been the topic of several analyst reports. BidaskClub raised shares of Trustmark from a “hold” rating to a “buy” rating in a research report on Friday, February 22nd. Stephens set a $32.00 price target on shares of Trustmark and gave the company a “hold” rating in a research report on Friday, January 25th. Zacks Investment Research lowered shares of Trustmark from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. Finally, Keefe, Bruyette & Woods lowered shares of Trustmark from a “market perform” rating to an “underperform” rating and set a $34.00 price target on the stock. in a research report on Tuesday, March 19th.

Shares of TRMK stock traded up $0.21 during trading on Friday, hitting $33.64. 1,873 shares of the stock traded hands, compared to its average volume of 299,842. The firm has a market cap of $2.16 billion, a PE ratio of 15.19 and a beta of 1.08. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.81 and a current ratio of 0.83. Trustmark has a 52-week low of $26.84 and a 52-week high of $36.63.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.01). The firm had revenue of $149.53 million for the quarter, compared to analysts’ expectations of $151.17 million. Trustmark had a net margin of 21.24% and a return on equity of 9.19%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.54 EPS. Equities research analysts predict that Trustmark will post 2.24 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Investors of record on Saturday, June 1st will be issued a $0.23 dividend. The ex-dividend date is Thursday, May 30th. This represents a $0.92 annualized dividend and a yield of 2.73%. Trustmark’s dividend payout ratio (DPR) is presently 41.63%.

In related news, insider Breck W. Tyler sold 2,400 shares of Trustmark stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $35.73, for a total value of $85,752.00. Following the completion of the sale, the insider now owns 43,054 shares in the company, valued at approximately $1,538,319.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert B. Harvey sold 6,461 shares of Trustmark stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $35.59, for a total transaction of $229,946.99. Following the completion of the sale, the insider now owns 29,848 shares of the company’s stock, valued at approximately $1,062,290.32. The disclosure for this sale can be found here. Insiders sold a total of 11,741 shares of company stock valued at $418,531 in the last quarter. 1.50% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the business. Captrust Financial Advisors grew its stake in shares of Trustmark by 160.7% during the fourth quarter. Captrust Financial Advisors now owns 863 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 532 shares in the last quarter. Strs Ohio grew its stake in shares of Trustmark by 200.0% during the fourth quarter. Strs Ohio now owns 900 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 600 shares in the last quarter. Toronto Dominion Bank acquired a new position in shares of Trustmark during the fourth quarter worth $28,000. Bremer Trust National Association acquired a new position in shares of Trustmark during the fourth quarter worth $28,000. Finally, Bremer Bank National Association acquired a new position in shares of Trustmark during the first quarter worth $36,000. Institutional investors and hedge funds own 69.20% of the company’s stock.

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 offers checking, savings, and money market accounts; individual retirement accounts; certificates of deposits; 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.

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Analyst Recommendations for Trustmark (NASDAQ:TRMK)

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