Trustmark (NASDAQ:TRMK) PT Raised to $34.00

Trustmark (NASDAQ:TRMK) had its target price upped by DA Davidson from $30.00 to $34.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

TRMK has been the subject of a number of other reports. Truist Financial raised their price target on Trustmark from $29.00 to $30.00 and gave the company a hold rating in a research note on Monday, April 1st. TheStreet upgraded Trustmark from a c+ rating to a b rating in a research note on Tuesday, January 23rd. Piper Sandler restated a neutral rating and issued a $29.00 price target on shares of Trustmark in a research note on Tuesday, March 26th. StockNews.com upgraded Trustmark from a sell rating to a hold rating in a research note on Friday, April 19th. Finally, Keefe, Bruyette & Woods raised Trustmark from a market perform rating to an outperform rating and lifted their price target for the stock from $30.00 to $36.00 in a report on Thursday. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $32.75.

Trustmark Stock Up 0.4 %

Shares of NASDAQ TRMK traded up $0.12 during mid-day trading on Thursday, reaching $29.94. 151,263 shares of the company’s stock were exchanged, compared to its average volume of 282,271. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 11.70 and a beta of 0.82. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11. The business has a fifty day simple moving average of $26.83 and a 200 day simple moving average of $25.49. Trustmark has a twelve month low of $18.96 and a twelve month high of $30.21.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.08. The company had revenue of $288.55 million for the quarter, compared to analyst estimates of $187.03 million. Trustmark had a return on equity of 10.04% and a net margin of 13.82%. During the same quarter last year, the firm posted $0.82 earnings per share. As a group, equities analysts expect that Trustmark will post 2.44 EPS for the current fiscal year.

Trustmark Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.92 annualized dividend and a yield of 3.07%. Trustmark’s dividend payout ratio is presently 35.80%.

Hedge Funds Weigh In On Trustmark

A number of institutional investors have recently modified their holdings of TRMK. Headlands Technologies LLC bought a new stake in Trustmark during the 3rd quarter worth $28,000. Arlington Trust Co LLC bought a new stake in Trustmark during the 4th quarter worth $84,000. Nisa Investment Advisors LLC grew its position in Trustmark by 1,029.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,055 shares of the financial services provider’s stock worth $132,000 after acquiring an additional 5,519 shares during the last quarter. Advisor Resource Council bought a new stake in Trustmark during the 4th quarter worth $230,000. Finally, Teza Capital Management LLC bought a new stake in Trustmark in the third quarter valued at approximately $242,000. Institutional investors and hedge funds own 67.64% 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 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.