Truist Financial Increases Trustmark (NASDAQ:TRMK) Price Target to $37.00

Trustmark (NASDAQ:TRMK) had its target price hoisted by Truist Financial from $31.00 to $37.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a hold rating on the financial services provider’s stock.

Several other equities analysts also recently weighed in on TRMK. DA Davidson lifted their target price on Trustmark from $30.00 to $34.00 and gave the company a neutral rating in a research report on Thursday, April 25th. StockNews.com upgraded Trustmark from a sell rating to a hold rating in a research report on Saturday, April 27th. Finally, Keefe, Bruyette & Woods upgraded Trustmark from a market perform rating to an outperform rating and boosted their price objective for the company from $30.00 to $36.00 in a research report on Thursday, April 25th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Trustmark has an average rating of Hold and an average price target of $35.00.

Trustmark Stock Performance

Shares of TRMK opened at $35.42 on Thursday. The business’s fifty day simple moving average is $30.14 and its two-hundred day simple moving average is $28.47. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 0.10. Trustmark has a 12 month low of $18.96 and a 12 month high of $35.42. The company has a market cap of $2.17 billion, a price-to-earnings ratio of 13.78 and a beta of 0.75.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.03. The company had revenue of $283.96 million for the quarter, compared to the consensus estimate of $229.83 million. Trustmark had a return on equity of 9.32% and a net margin of 16.24%. During the same period in the previous year, the business earned $0.74 earnings per share. Research analysts anticipate that Trustmark will post 2.29 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st will be issued a $0.23 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.60%. Trustmark’s dividend payout ratio (DPR) is 35.80%.

Institutional Investors Weigh In On Trustmark

Several large investors have recently added to or reduced their stakes in TRMK. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Trustmark by 3.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,802 shares of the financial services provider’s stock valued at $775,000 after buying an additional 1,047 shares during the last quarter. Arlington Trust Co LLC purchased a new stake in shares of Trustmark in the fourth quarter valued at approximately $84,000. Louisiana State Employees Retirement System purchased a new stake in shares of Trustmark in the fourth quarter valued at approximately $853,000. VELA Investment Management LLC boosted its holdings in shares of Trustmark by 8.6% in the fourth quarter. VELA Investment Management LLC now owns 35,037 shares of the financial services provider’s stock valued at $977,000 after purchasing an additional 2,789 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Trustmark by 11.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,818 shares of the financial services provider’s stock valued at $385,000 after purchasing an additional 1,449 shares during the period. 67.64% of the stock is owned by 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.