Trustmark (NASDAQ:TRMK) Sets New 1-Year High at $31.39

Shares of Trustmark Co. (NASDAQ:TRMK) hit a new 52-week high during trading on Thursday . The stock traded as high as $31.39 and last traded at $31.27, with a volume of 59432 shares. The stock had previously closed at $30.24.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TRMK. Truist Financial lowered their price objective on shares of Trustmark from $32.00 to $31.00 and set a “hold” rating for the company in a research report on Monday. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a research note on Saturday, April 27th. DA Davidson increased their target price on Trustmark from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Keefe, Bruyette & Woods raised Trustmark from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $30.00 to $36.00 in a research report on Thursday, April 25th. Finally, Piper Sandler reissued a “neutral” rating and set a $29.00 price target on shares of Trustmark in a research report on Tuesday, March 26th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $32.50.

Trustmark Stock Performance

The stock has a market capitalization of $1.92 billion, a PE ratio of 11.77 and a beta of 0.75. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. The stock has a fifty day moving average of $29.45 and a 200-day moving average of $27.97.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results 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 net margin of 13.82% and a return on equity of 10.04%. The company had revenue of $288.55 million during the quarter, compared to the consensus estimate of $187.03 million. During the same quarter in the previous year, the firm earned $0.82 earnings per share. Equities analysts anticipate that Trustmark Co. will post 2.77 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, June 15th. Investors of record on Saturday, June 1st were paid a dividend of $0.23 per share. The ex-dividend date was Friday, May 31st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.93%. Trustmark’s payout ratio is currently 35.80%.

Institutional Trading of Trustmark

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rafferty Asset Management LLC raised its position in shares of Trustmark by 79.2% during the 4th quarter. Rafferty Asset Management LLC now owns 68,202 shares of the financial services provider’s stock worth $1,901,000 after acquiring an additional 30,134 shares in the last quarter. Wakefield Asset Management LLLP acquired a new position in Trustmark in the first quarter valued at $949,000. Wellington Management Group LLP purchased a new position in shares of Trustmark during the fourth quarter worth about $12,572,000. Vanguard Group Inc. increased its position in shares of Trustmark by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 6,712,905 shares of the financial services provider’s stock worth $187,156,000 after purchasing an additional 50,795 shares in the last quarter. Finally, Ignite Planners LLC boosted its position in shares of Trustmark by 924.4% in the 4th quarter. Ignite Planners LLC now owns 142,537 shares of the financial services provider’s stock valued at $3,961,000 after purchasing an additional 128,623 shares during the period. 67.64% of the stock is currently owned by institutional investors and hedge funds.

About Trustmark

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.