Trustmark (TRMK) – Research Analysts’ Recent Ratings Updates

Trustmark (NASDAQ: TRMK) has recently received a number of price target changes and ratings updates:

• 4/27/2024 – Trustmark was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 4/26/2024 – Trustmark had its price target raised by analysts at Truist Financial Co. from $30.00 to $32.00. They now have a “hold” rating on the stock.
• 4/25/2024 – Trustmark was upgraded by analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating. They now have a $36.00 price target on the stock, up previously from $30.00.
• 4/25/2024 – Trustmark had its price target raised by analysts at DA Davidson from $30.00 to $34.00. They now have a “neutral” rating on the stock.
• 4/19/2024 – Trustmark was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 4/11/2024 – Trustmark was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 4/1/2024 – Trustmark had its price target raised by analysts at Truist Financial Co. from $29.00 to $30.00. They now have a “hold” rating on the stock.
• 3/26/2024 – Trustmark had its “neutral” rating reaffirmed by analysts at Piper Sandler. They now have a $29.00 price target on the stock.

Trustmark Trading Down 0.4 %

TRMK stock opened at $29.92 on Tuesday. Trustmark Co. has a one year low of $18.96 and a one year high of $30.21. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 11.64 and a beta of 0.82. The company has a fifty day moving average price of $26.95 and a two-hundred day moving average price of $25.66. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.83.

Trustmark (NASDAQ:TRMK) last posted its 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 analysts’ expectations of $187.03 million. During the same quarter last year, the company posted $0.82 EPS. Equities analysts anticipate that Trustmark Co. will post 2.53 EPS for the current year.

Trustmark Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Friday, May 31st. Trustmark’s dividend payout ratio is presently 35.80%.

Hedge Funds Weigh In On Trustmark

Large investors have recently made changes to their positions in the company. Headlands Technologies LLC acquired a new position in Trustmark in the 3rd quarter valued at $28,000. Arlington Trust Co LLC bought a new position in Trustmark during the fourth quarter worth about $84,000. Nisa Investment Advisors LLC raised its stake in Trustmark by 1,029.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,055 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 5,519 shares in the last quarter. Advisor Resource Council bought a new stake in Trustmark in the 4th quarter valued at about $230,000. Finally, Teza Capital Management LLC acquired a new position in shares of Trustmark during the 3rd quarter worth approximately $242,000. Institutional investors own 67.64% of the company’s stock.

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.