Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Trustmark (NASDAQ:TRMK) Stock

Trustmark (NASDAQ:TRMK) had its price target increased by Keefe, Bruyette & Woods from $45.00 to $47.00 in a research report sent to investors on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

Several other analysts also recently issued reports on the company. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Hovde Group lifted their price objective on Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Truist Financial lifted their price objective on Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Janney Montgomery Scott began coverage on Trustmark in a research note on Friday, January 24th. They issued a “buy” rating and a $42.00 price objective on the stock. Finally, DA Davidson lifted their price objective on Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Trustmark currently has a consensus rating of “Hold” and a consensus target price of $38.67.

Trustmark Stock Up 1.5 %

Shares of TRMK opened at $38.35 on Monday. The business’s 50 day moving average is $36.34 and its 200 day moving average is $34.73. The company has a market capitalization of $2.35 billion, a PE ratio of 10.54 and a beta of 0.76. Trustmark has a 12-month low of $25.24 and a 12-month high of $40.73. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.09. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. Research analysts expect that Trustmark will post 3.4 earnings per share for the current fiscal year.

Trustmark Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be issued a $0.24 dividend. This is a boost from Trustmark’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.50%. Trustmark’s payout ratio is 26.37%.

Insider Transactions at Trustmark

In other news, Director Gerard R. Host sold 7,000 shares of Trustmark stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $38.59, for a total value of $270,130.00. Following the completion of the transaction, the director now owns 16,500 shares in the company, valued at approximately $636,735. The trade was a 29.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Trustmark

A number of institutional investors and hedge funds have recently modified their holdings of TRMK. GoalVest Advisory LLC purchased a new position in Trustmark during the 3rd quarter valued at $63,000. nVerses Capital LLC purchased a new position in Trustmark during the 3rd quarter valued at $67,000. KBC Group NV boosted its holdings in Trustmark by 43.0% during the 4th quarter. KBC Group NV now owns 3,163 shares of the financial services provider’s stock valued at $112,000 after acquiring an additional 951 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Trustmark during the 3rd quarter valued at $130,000. Finally, Blue Trust Inc. boosted its holdings in Trustmark by 225.2% during the 3rd quarter. Blue Trust Inc. now owns 4,953 shares of the financial services provider’s stock valued at $149,000 after acquiring an additional 3,430 shares during the period. Hedge funds and other institutional investors own 67.64% of the company’s stock.

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.