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

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

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

Trustmark Stock Up 0.8 %

TRMK opened at $30.05 on Thursday. Trustmark has a 1-year low of $18.96 and a 1-year high of $30.21. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 11.69 and a beta of 0.82. The business has a 50 day moving average of $26.89 and a 200-day moving average of $25.55.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data 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. Trustmark had a return on equity of 10.04% and a net margin of 13.82%. The company had revenue of $288.55 million during the quarter, compared to analysts’ expectations of $187.03 million. During the same period in the prior year, the business earned $0.82 earnings per share. As a group, sell-side analysts anticipate that Trustmark will post 2.46 earnings per share for the current year.

Trustmark Dividend Announcement

The business 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 dividend of $0.23 per share. The ex-dividend date is Friday, May 31st. This represents a $0.92 annualized dividend and a yield of 3.06%. Trustmark’s dividend payout ratio is currently 35.80%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Ignite Planners LLC raised its stake in Trustmark by 924.4% during the fourth quarter. Ignite Planners LLC now owns 142,537 shares of the financial services provider’s stock worth $3,961,000 after acquiring an additional 128,623 shares in the last quarter. Trexquant Investment LP raised its stake in Trustmark by 235.7% during the third quarter. Trexquant Investment LP now owns 87,162 shares of the financial services provider’s stock worth $1,894,000 after acquiring an additional 61,194 shares in the last quarter. American Century Companies Inc. raised its stake in Trustmark by 28.8% during the third quarter. American Century Companies Inc. now owns 372,172 shares of the financial services provider’s stock worth $8,087,000 after acquiring an additional 83,181 shares in the last quarter. MQS Management LLC acquired a new stake in shares of Trustmark in the third quarter valued at $283,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of Trustmark by 244.2% in the third quarter. Envestnet Asset Management Inc. now owns 176,036 shares of the financial services provider’s stock valued at $3,825,000 after buying an additional 124,890 shares in the last quarter. 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.