Fintel reports that on September 27, 2023, Truist Securities maintained coverage of Trustmark (NASDAQ:TRMK) with a Hold recommendation.
Analyst Price Forecast Suggests 32.11% Upside
As of August 31, 2023, the average one-year price target for Trustmark is 27.74. The forecasts range from a low of 25.25 to a high of $29.40. The average price target represents an increase of 32.11% from its latest reported closing price of 21.00.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Trustmark is 810MM, an increase of 10.93%. The projected annual non-GAAP EPS is 3.16.
Trustmark Declares $0.23 Dividend
On July 25, 2023 the company declared a regular quarterly dividend of $0.23 per share ($0.92 annualized). Shareholders of record as of September 1, 2023 received the payment on September 15, 2023. Previously, the company paid $0.23 per share.
At the current share price of $21.00 / share, the stock's dividend yield is 4.38%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.14%, the lowest has been 2.47%, and the highest has been 4.35%. The standard deviation of yields is 0.51 (n=236).
The current dividend yield is 2.42 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.54. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 459 funds or institutions reporting positions in Trustmark. This is a decrease of 44 owner(s) or 8.75% in the last quarter. Average portfolio weight of all funds dedicated to TRMK is 0.06%, a decrease of 31.21%. Total shares owned by institutions decreased in the last three months by 2.62% to 44,985K shares. 
The put/call ratio of TRMK is 0.74, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 4,017K shares representing 6.58% ownership of the company. No change in the last quarter.
Earnest Partners holds 3,658K shares representing 5.99% ownership of the company. In it's prior filing, the firm reported owning 3,852K shares, representing a decrease of 5.30%. The firm decreased its portfolio allocation in TRMK by 21.52% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,684K shares representing 2.76% ownership of the company. In it's prior filing, the firm reported owning 1,673K shares, representing an increase of 0.66%. The firm decreased its portfolio allocation in TRMK by 20.58% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 1,419K shares representing 2.32% ownership of the company. In it's prior filing, the firm reported owning 1,439K shares, representing a decrease of 1.37%. The firm decreased its portfolio allocation in TRMK by 19.75% over the last quarter.
IWM - iShares Russell 2000 ETF holds 1,325K shares representing 2.17% ownership of the company. In it's prior filing, the firm reported owning 1,342K shares, representing a decrease of 1.23%. The firm decreased its portfolio allocation in TRMK by 22.14% over the last quarter.
Trustmark Background Information
(This description is provided by the company.)
Trustmark is a financial services company providing banking and financial solutions through 187 offices in Alabama, Florida, Mississippi, Tennessee and Texas.
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