Trustmark (NASDAQ:TRMK) Given New $36.00 Price Target at Truist Financial

Trustmark (NASDAQ:TRMK) had its price objective lifted by Truist Financial from $35.00 to $36.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has a hold rating on the financial services provider’s stock.

Several other research analysts have also recently commented on the stock. DA Davidson upped their target price on shares of Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday. Four research 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.com, Trustmark has a consensus rating of “Hold” and a consensus target price of $34.75.

Trustmark Stock Performance

Shares of TRMK stock opened at $34.08 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.10. The business has a 50 day moving average of $32.65 and a two-hundred day moving average of $30.95. The company has a market cap of $2.09 billion, a P/E ratio of 13.26 and a beta of 0.73. Trustmark has a 52 week low of $19.08 and a 52 week high of $35.75.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.02. The firm had revenue of $192.30 million for the quarter, compared to analyst estimates of $192.77 million. Trustmark had a return on equity of 9.32% and a net margin of 16.24%. During the same period last year, the company earned $0.64 earnings per share. As a group, analysts anticipate that Trustmark will post 2.92 EPS for the current year.

Trustmark Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be paid a dividend of $0.23 per share. The ex-dividend date is Friday, November 29th. This represents a $0.92 annualized dividend and a yield of 2.70%. Trustmark’s payout ratio is 35.80%.

Institutional Trading of Trustmark

A number of hedge funds and other institutional investors have recently made changes to their positions in TRMK. GAMMA Investing LLC increased its stake in shares of Trustmark by 62.1% during the second quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 351 shares during the period. EntryPoint Capital LLC acquired a new position in shares of Trustmark during the 1st quarter valued at $52,000. Innealta Capital LLC bought a new stake in shares of Trustmark in the 2nd quarter worth $61,000. nVerses Capital LLC bought a new stake in shares of Trustmark in the 3rd quarter worth $67,000. Finally, CWM LLC lifted its holdings in shares of Trustmark by 14.6% in the second quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock valued at $144,000 after buying an additional 611 shares during the period. 67.64% of the stock is currently owned by institutional investors.

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.