Trustmark (NASDAQ:TRMK) Price Target Raised to $34.00 at DA Davidson

Trustmark (NASDAQ:TRMK) had its price objective lifted by DA Davidson from $30.00 to $34.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

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

Trustmark Stock Up 0.4 %

Shares of TRMK traded up $0.12 during mid-day trading on Thursday, hitting $29.94. 151,263 shares of the company’s stock were exchanged, compared to its average volume of 282,271. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 11.70 and a beta of 0.82. Trustmark has a fifty-two week low of $18.96 and a fifty-two week high of $30.21. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.84. The stock’s 50-day moving average is $26.83 and its 200-day moving average is $25.49.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.08. The firm had revenue of $288.55 million for the quarter, compared to analysts’ expectations of $187.03 million. Trustmark had a net margin of 13.82% and a return on equity of 10.04%. During the same quarter last year, the company earned $0.82 earnings per share. On average, sell-side analysts anticipate that Trustmark will post 2.44 earnings per share for the current fiscal year.

Trustmark Announces Dividend

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

Hedge Funds Weigh In On Trustmark

Institutional investors and hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC increased its stake in shares of Trustmark by 4.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 12,824 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 587 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Trustmark by 3.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,802 shares of the financial services provider’s stock valued at $775,000 after buying an additional 1,047 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Trustmark during the 3rd quarter valued at approximately $28,000. Swiss National Bank boosted its stake in shares of Trustmark by 1.0% during the 3rd quarter. Swiss National Bank now owns 127,500 shares of the financial services provider’s stock valued at $2,771,000 after buying an additional 1,300 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Trustmark by 11.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,818 shares of the financial services provider’s stock worth $385,000 after purchasing an additional 1,449 shares during the last quarter. 67.64% of the stock is owned by institutional investors and hedge funds.

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.