Trustmark (NASDAQ:TRMK) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Trustmark (NASDAQ:TRMK) from a sell rating to a hold rating in a report published on Saturday.

Several other analysts have also weighed in on the company. Keefe, Bruyette & Woods raised Trustmark from a market perform rating to an outperform rating and upped their target price for the company from $30.00 to $36.00 in a report on Thursday, April 25th. TheStreet raised shares of Trustmark from a c+ rating to a b rating in a research note on Tuesday, January 23rd. Truist Financial raised their target price on shares of Trustmark from $30.00 to $32.00 and gave the company a hold rating in a report on Friday, April 26th. DA Davidson upped their price target on shares of Trustmark from $30.00 to $34.00 and gave the company a neutral rating in a report on Thursday, April 25th. Finally, Piper Sandler reissued a neutral rating and set a $29.00 price objective on shares of Trustmark in a research note on Tuesday, March 26th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Trustmark currently has a consensus rating of Hold and a consensus target price of $32.75.

Trustmark Stock Down 1.1 %

Shares of NASDAQ TRMK opened at $29.60 on Friday. The business has a 50-day moving average price of $27.00 and a 200 day moving average price of $25.72. The stock has a market cap of $1.81 billion, a PE ratio of 11.52 and a beta of 0.82. Trustmark has a 52-week low of $18.96 and a 52-week high of $30.21. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.11.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.08. The firm had revenue of $288.55 million for the quarter, compared to analyst estimates of $187.03 million. Trustmark had a net margin of 13.82% and a return on equity of 10.04%. During the same period last year, the firm posted $0.82 EPS. Equities research analysts forecast that Trustmark will post 2.53 earnings per share for the current year.

Trustmark Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Friday, May 31st. Trustmark’s dividend payout ratio (DPR) is presently 35.80%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TRMK. Ignite Planners LLC lifted its position in shares of Trustmark by 924.4% during the fourth quarter. Ignite Planners LLC now owns 142,537 shares of the financial services provider’s stock worth $3,961,000 after purchasing an additional 128,623 shares in the last quarter. Trexquant Investment LP increased its position in shares of Trustmark by 235.7% during the third quarter. Trexquant Investment LP now owns 87,162 shares of the financial services provider’s stock worth $1,894,000 after acquiring an additional 61,194 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Trustmark by 28.8% in the third quarter. American Century Companies Inc. now owns 372,172 shares of the financial services provider’s stock worth $8,087,000 after acquiring an additional 83,181 shares in the last quarter. MQS Management LLC purchased a new position in Trustmark in the third quarter valued at about $283,000. Finally, Envestnet Asset Management Inc. grew its stake in Trustmark by 244.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 176,036 shares of the financial services provider’s stock valued at $3,825,000 after purchasing an additional 124,890 shares in the last quarter. 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.