DA Davidson Raises Trustmark (NASDAQ:TRMK) Price Target to $34.00

Trustmark (NASDAQ:TRMK) had its price target upped by DA Davidson from $30.00 to $34.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Several other research firms have also recently weighed in on TRMK. TheStreet raised Trustmark from a c+ rating to a b rating in a research note on Tuesday, January 23rd. Truist Financial boosted their price target on Trustmark from $29.00 to $30.00 and gave the company a hold rating in a research note on Monday, April 1st. StockNews.com raised Trustmark from a sell rating to a hold rating in a research note on Friday, April 19th. Piper Sandler reissued a neutral rating and issued a $29.00 price target on shares of Trustmark in a research note on Tuesday, March 26th. Finally, Keefe, Bruyette & Woods upgraded Trustmark from a market perform rating to an outperform rating and boosted their target price for the stock from $30.00 to $36.00 in a report on Thursday. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $32.75.

Trustmark Trading Up 0.8 %

NASDAQ:TRMK opened at $30.05 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.84. Trustmark has a fifty-two week low of $18.96 and a fifty-two week high of $30.21. The stock’s 50-day moving average is $26.89 and its two-hundred day moving average is $25.60. The stock has a market cap of $1.84 billion, a PE ratio of 11.69 and a beta of 0.82.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.08. Trustmark had a return on equity of 10.04% and a net margin of 13.82%. The company had revenue of $288.55 million for the quarter, compared to analysts’ expectations of $187.03 million. During the same quarter in the previous year, the business posted $0.82 EPS. As a group, equities research analysts forecast that Trustmark will post 2.53 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be given a $0.23 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.92 annualized dividend and a dividend yield of 3.06%. Trustmark’s dividend payout ratio is 35.80%.

Institutional Investors Weigh In On Trustmark

Several hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC boosted its position in shares of Trustmark by 4.8% in the third quarter. Commonwealth Equity Services LLC now owns 12,824 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 587 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Trustmark by 3.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,802 shares of the financial services provider’s stock worth $775,000 after purchasing an additional 1,047 shares during the period. Headlands Technologies LLC bought a new position in Trustmark in the third quarter worth $28,000. Swiss National Bank lifted its position in Trustmark by 1.0% in the third quarter. Swiss National Bank now owns 127,500 shares of the financial services provider’s stock worth $2,771,000 after purchasing an additional 1,300 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Trustmark by 11.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,818 shares of the financial services provider’s stock worth $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.