Trustmark (NASDAQ:TRMK) Price Target Raised to $32.00 at Truist Financial

Trustmark (NASDAQ:TRMK) had its price target increased by Truist Financial from $30.00 to $32.00 in a report released on Friday, Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

Several other research analysts have also commented on the company. Piper Sandler reissued a neutral rating and set a $29.00 price objective on shares of Trustmark in a report on Tuesday, March 26th. StockNews.com upgraded shares of Trustmark from a sell rating to a hold rating in a research report on Friday, April 19th. Keefe, Bruyette & Woods raised shares of Trustmark from a market perform rating to an outperform rating and increased their price target for the stock from $30.00 to $36.00 in a report on Thursday. DA Davidson lifted their price objective on shares of Trustmark from $30.00 to $34.00 and gave the stock a neutral rating in a report on Thursday. Finally, TheStreet upgraded shares of Trustmark from a c+ rating to a b rating in a research report on Tuesday, January 23rd. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $32.75.

Trustmark Stock Performance

NASDAQ TRMK opened at $30.05 on Friday. The company’s 50 day simple moving average is $26.89 and its two-hundred day simple moving average is $25.55. The stock has a market capitalization of $1.84 billion, a PE ratio of 11.69 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.84. Trustmark has a 1 year low of $18.96 and a 1 year high of $30.21.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.08. Trustmark had a return on equity of 10.04% and a net margin of 13.82%. The company had revenue of $288.55 million for the quarter, compared to the consensus estimate of $187.03 million. During the same quarter last year, the business posted $0.82 earnings per share. Analysts predict that Trustmark will post 2.46 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Friday, May 31st. Trustmark’s dividend payout ratio (DPR) is presently 35.80%.

Institutional Investors Weigh In On Trustmark

A number of institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC bought a new stake in Trustmark in the third quarter worth $28,000. Arlington Trust Co LLC bought a new stake in shares of Trustmark in the 4th quarter valued at about $84,000. Nisa Investment Advisors LLC boosted its holdings 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 valued at $132,000 after acquiring an additional 5,519 shares during the period. Advisor Resource Council bought a new position in Trustmark during the 4th quarter worth approximately $230,000. Finally, Teza Capital Management LLC bought a new position in Trustmark during the 3rd quarter worth approximately $242,000. Hedge funds and other institutional investors 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.