Trustmark (NASDAQ:TRMK) Hits New 1-Year High – Here’s Why

Trustmark Corporation (NASDAQ:TRMK) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $46.47 and last traded at $46.3430, with a volume of 12700 shares traded. The stock had previously closed at $46.03.

Analysts Set New Price Targets

A number of analysts have commented on TRMK shares. Weiss Ratings upgraded shares of Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, June 1st. Piper Sandler boosted their price objective on shares of Trustmark from $44.00 to $45.50 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Brean Capital started coverage on shares of Trustmark in a report on Thursday, March 12th. They issued a “buy” rating on the stock. Wall Street Zen upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, DA Davidson reiterated a “neutral” rating and set a $44.00 price target on shares of Trustmark in a report on Wednesday, April 29th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Trustmark currently has a consensus rating of “Hold” and a consensus price target of $44.75.

Trustmark Trading Up 0.8%

The business has a 50 day moving average of $44.53 and a two-hundred day moving average of $42.83. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11. The firm has a market cap of $2.72 billion, a P/E ratio of 12.30 and a beta of 0.65.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. Trustmark had a net margin of 20.12% and a return on equity of 10.74%. The firm had revenue of $208.07 million during the quarter, compared to analysts’ expectations of $204.98 million. During the same period in the previous year, the business posted $0.88 earnings per share. Analysts predict that Trustmark Corporation will post 3.92 earnings per share for the current year.

Trustmark Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Monday, June 1st. Trustmark’s dividend payout ratio (DPR) is currently 26.46%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TRMK. Dimensional Fund Advisors LP lifted its position in Trustmark by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 3,897,556 shares of the financial services provider’s stock worth $164,244,000 after acquiring an additional 20,628 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Trustmark by 8.9% during the third quarter. Wellington Management Group LLP now owns 3,883,882 shares of the financial services provider’s stock worth $153,802,000 after acquiring an additional 316,851 shares during the period. North Reef Capital Management LP acquired a new position in shares of Trustmark in the first quarter valued at approximately $82,296,000. Geode Capital Management LLC grew its position in shares of Trustmark by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 1,491,837 shares of the financial services provider’s stock valued at $58,112,000 after purchasing an additional 9,198 shares during the last quarter. Finally, UBS Group AG increased its stake in shares of Trustmark by 282.0% during the fourth quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock worth $24,944,000 after purchasing an additional 472,751 shares during the period. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Company Profile

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.