Brokerages Set Trustmark Co. (NASDAQ:TRMK) PT at $38.67

Trustmark Co. (NASDAQ:TRMK) has earned an average recommendation of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $38.67.

Several research firms have recently weighed in on TRMK. DA Davidson raised their price objective 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 began coverage on shares of Trustmark in a research report on Friday, January 24th. They set a “buy” rating and a $42.00 price objective for the company. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Trustmark from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd.

Institutional Trading of Trustmark

A number of hedge funds have recently made changes to their positions in the stock. Barclays PLC raised its position in Trustmark by 124.7% during the third quarter. Barclays PLC now owns 125,743 shares of the financial services provider’s stock valued at $4,001,000 after acquiring an additional 69,779 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Trustmark by 6.8% during the third quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider’s stock valued at $19,059,000 after purchasing an additional 37,989 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Trustmark by 10.7% during the third quarter. JPMorgan Chase & Co. now owns 122,956 shares of the financial services provider’s stock valued at $3,912,000 after purchasing an additional 11,934 shares during the last quarter. State Street Corp grew its holdings in Trustmark by 0.8% during the third quarter. State Street Corp now owns 3,090,988 shares of the financial services provider’s stock valued at $98,355,000 after purchasing an additional 24,450 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Trustmark by 1.1% during the third quarter. Geode Capital Management LLC now owns 1,461,545 shares of the financial services provider’s stock valued at $46,515,000 after purchasing an additional 15,627 shares during the last quarter. 67.64% of the stock is owned by hedge funds and other institutional investors.

Trustmark Stock Performance

Shares of TRMK opened at $34.54 on Monday. The firm has a 50-day moving average price of $36.15 and a 200 day moving average price of $35.39. The firm has a market capitalization of $2.10 billion, a PE ratio of 9.49 and a beta of 0.71. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. Trustmark has a 52-week low of $25.24 and a 52-week high of $40.73.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share 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, sell-side analysts anticipate that Trustmark will post 3.42 earnings per share for the current fiscal year.

Trustmark Increases Dividend

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

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.