Trustmark (NASDAQ:TRMK) PT Raised to $32.00

Trustmark (NASDAQ:TRMK) had its target price raised by Truist Financial from $30.00 to $32.00 in a research report sent to investors on Friday morning, Benzinga reports. Truist Financial currently has a hold rating on the financial services provider’s stock.

TRMK has been the topic of several other reports. Keefe, Bruyette & Woods upgraded shares of Trustmark from a market perform rating to an outperform rating and raised their price target for the stock from $30.00 to $36.00 in a research report on Thursday, April 25th. StockNews.com upgraded shares of Trustmark from a sell rating to a hold rating in a research report on Friday, April 19th. DA Davidson raised their price target on shares of Trustmark from $30.00 to $34.00 and gave the stock a neutral rating in a research report on Thursday, April 25th. Piper Sandler reiterated a neutral rating and set a $29.00 target price on shares of Trustmark in a research report on Tuesday, March 26th. Finally, TheStreet upgraded shares of Trustmark from a c+ rating to a b rating in a research report on Tuesday, January 23rd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $32.75.

Trustmark Stock Performance

Shares of TRMK opened at $29.92 on Friday. The company has a market capitalization of $1.83 billion, a PE ratio of 11.64 and a beta of 0.82. Trustmark has a one year low of $18.96 and a one year high of $30.21. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.83. The company’s fifty day moving average price is $26.95 and its 200 day moving average price is $25.66.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 13.82% and a return on equity of 10.04%. During the same period last year, the business posted $0.82 EPS. As a group, analysts expect that Trustmark will post 2.53 earnings per share for the current year.

Trustmark Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be given a dividend of $0.23 per share. The ex-dividend date is Friday, May 31st. This represents a $0.92 annualized dividend and a dividend yield of 3.07%. Trustmark’s dividend payout ratio (DPR) is currently 35.80%.

Institutional Trading of Trustmark

Several institutional investors have recently made changes to their positions in TRMK. AE Wealth Management LLC acquired a new position in Trustmark in the third quarter valued at about $337,000. SG Americas Securities LLC acquired a new position in Trustmark in the third quarter valued at about $535,000. Commonwealth Equity Services LLC boosted its position in Trustmark by 4.8% in the third quarter. Commonwealth Equity Services LLC now owns 12,824 shares of the financial services provider’s stock valued at $279,000 after buying an additional 587 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Trustmark by 29.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,369 shares of the financial services provider’s stock valued at $269,000 after buying an additional 2,813 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in Trustmark in the third quarter valued at about $562,000. 67.64% of the stock is currently owned by institutional investors and hedge funds.

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.