Trustmark (NASDAQ:TRMK) Hits New 1-Year High – Should You Buy?

Shares of Trustmark Co. (NASDAQ:TRMK) reached a new 52-week high during trading on Thursday . The stock traded as high as $35.95 and last traded at $35.95, with a volume of 321 shares. The stock had previously closed at $35.36.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TRMK shares. DA Davidson raised their price target on shares of Trustmark from $34.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. StockNews.com downgraded shares of Trustmark from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Finally, Truist Financial reduced their price target on shares of Trustmark from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Trustmark currently has a consensus rating of “Hold” and a consensus price target of $34.50.

Trustmark Stock Down 1.8 %

The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. The firm has a market cap of $2.12 billion, a PE ratio of 13.49 and a beta of 0.73. The business’s 50-day simple moving average is $32.36 and its 200 day simple moving average is $30.70.

Trustmark (NASDAQ:TRMK) last posted its earnings results on Tuesday, July 23rd. The financial services provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. The business had revenue of $283.96 million for the quarter, compared to the consensus estimate of $229.83 million. Trustmark had a net margin of 16.24% and a return on equity of 9.32%. During the same quarter last year, the firm posted $0.74 EPS. As a group, equities research analysts expect that Trustmark Co. will post 2.92 earnings per share for the current year.

Trustmark Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend was Friday, August 30th. Trustmark’s dividend payout ratio (DPR) is 35.80%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of Trustmark by 62.1% in 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 during the last quarter. EntryPoint Capital LLC purchased a new position in shares of Trustmark in the 1st quarter worth approximately $52,000. Innealta Capital LLC purchased a new position in shares of Trustmark in the 2nd quarter worth approximately $61,000. nVerses Capital LLC purchased a new position in shares of Trustmark in the 3rd quarter worth approximately $67,000. Finally, CWM LLC grew its position 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 buying an additional 611 shares during the last quarter. 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.