Trustmark (NASDAQ:TRMK) Sets New 52-Week High – What’s Next?

Trustmark Co. (NASDAQ:TRMK)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $38.11 and last traded at $38.11, with a volume of 742 shares. The stock had previously closed at $34.73.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TRMK shares. Truist Financial boosted their price objective on Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a report on Friday, October 25th. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Hovde Group boosted their price objective on Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Finally, DA Davidson increased their price target on Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Trustmark currently has an average rating of “Hold” and a consensus target price of $35.20.

Trustmark Stock Performance

The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The firm has a 50-day moving average of $32.99 and a two-hundred day moving average of $31.43. The company has a market capitalization of $2.39 billion, a PE ratio of 11.76 and a beta of 0.72.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 9.48% and a net margin of 17.62%. During the same period in the previous year, the company posted $0.64 earnings per share. Research analysts anticipate that Trustmark Co. will post 2.93 EPS for the current year.

Trustmark Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors 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 2.36%. Trustmark’s payout ratio is 27.79%.

Insider Transactions at Trustmark

In other news, Director Marcelo L. Eduardo sold 790 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $35.89, for a total transaction of $28,353.10. Following the completion of the transaction, the director now directly owns 7,334 shares of the company’s stock, valued at approximately $263,217.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Trustmark

Large investors have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in shares of Trustmark by 62.1% during the 2nd quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock worth $28,000 after buying an additional 351 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Trustmark in the 1st quarter worth approximately $52,000. Innealta Capital LLC acquired a new stake in shares of Trustmark in the 2nd quarter worth approximately $61,000. nVerses Capital LLC acquired a new stake in shares of Trustmark in the 3rd quarter worth approximately $67,000. Finally, CWM LLC grew its holdings in shares of Trustmark by 14.6% in the 2nd quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock worth $144,000 after acquiring an additional 611 shares during the period. 67.64% of the stock is owned by hedge funds and other 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.