Trustmark (NASDAQ:TRMK) Given “Neutral” Rating at Piper Sandler

Piper Sandler restated their neutral rating on shares of Trustmark (NASDAQ:TRMK) in a report published on Tuesday, Benzinga reports. Piper Sandler currently has a $29.00 price target on the financial services provider’s stock.

TRMK has been the subject of several other reports. TheStreet upgraded Trustmark from a c+ rating to a b rating in a report on Tuesday, January 23rd. Keefe, Bruyette & Woods boosted their price objective on Trustmark from $27.00 to $30.00 and gave the company a market perform rating in a research note on Friday, January 26th. DA Davidson restated a neutral rating on shares of Trustmark in a research note on Monday, January 15th. Truist Financial upped their price target on Trustmark from $21.00 to $29.00 and gave the stock a hold rating in a research note on Friday, December 15th. Finally, StockNews.com raised Trustmark from a sell rating to a hold rating in a report on Thursday, February 1st. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Trustmark presently has a consensus rating of Hold and a consensus price target of $29.33.

Trustmark Stock Performance

Shares of TRMK stock opened at $28.11 on Tuesday. The stock has a fifty day moving average of $26.99 and a 200 day moving average of $24.78. Trustmark has a 52 week low of $18.96 and a 52 week high of $28.65. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 10.37 and a beta of 0.81. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.11.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.04. Trustmark had a return on equity of 10.77% and a net margin of 15.06%. The firm had revenue of $189.85 million during the quarter, compared to the consensus estimate of $187.63 million. During the same period last year, the company earned $0.68 earnings per share. The company’s revenue was down 2.7% on a year-over-year basis. As a group, research analysts expect that Trustmark will post 2.47 earnings per share for the current year.

Trustmark Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend was Thursday, February 29th. Trustmark’s dividend payout ratio (DPR) is presently 33.95%.

Hedge Funds Weigh In On Trustmark

Several hedge funds have recently bought and sold shares of TRMK. Headlands Technologies LLC bought a new position in Trustmark in the 3rd quarter valued at $28,000. Coppell Advisory Solutions Corp. bought a new position in shares of Trustmark during the 4th quarter worth $43,000. Tower Research Capital LLC TRC grew its position in shares of Trustmark by 208.2% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,795 shares of the financial services provider’s stock worth $69,000 after buying an additional 1,888 shares in the last quarter. Point72 Middle East FZE bought a new position in shares of Trustmark during the 4th quarter worth $82,000. Finally, Arlington Trust Co LLC bought a new position in shares of Trustmark during the 4th quarter worth $84,000. 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.