Truist Financial Boosts Trustmark (NASDAQ:TRMK) Price Target to $32.00

Trustmark (NASDAQ:TRMK) had its target price hoisted by Truist Financial from $30.00 to $32.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

A number of other analysts have also recently commented on the company. DA Davidson boosted their price objective on Trustmark from $30.00 to $34.00 and gave the company a neutral rating in a research report on Thursday. Keefe, Bruyette & Woods raised shares of Trustmark from a market perform rating to an outperform rating and boosted their price target for the stock from $30.00 to $36.00 in a report on Thursday. StockNews.com raised shares of Trustmark from a sell rating to a hold rating in a report on Friday, April 19th. TheStreet raised shares of Trustmark from a c+ rating to a b rating in a research note on Tuesday, January 23rd. Finally, Piper Sandler reiterated a neutral rating and issued a $29.00 price objective on shares of Trustmark in a report on Tuesday, March 26th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $32.75.

Trustmark Stock Up 0.8 %

TRMK stock opened at $30.05 on Friday. The firm’s fifty day moving average is $26.89 and its 200 day moving average is $25.55. The firm has a market cap of $1.84 billion, a PE ratio of 11.69 and a beta of 0.82. Trustmark has a one year low of $18.96 and a one year high of $30.21. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.84.

Trustmark (NASDAQ:TRMK) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $0.68 EPS 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 analysts’ expectations of $187.03 million. Trustmark had a return on equity of 10.04% and a net margin of 13.82%. During the same period last year, the firm earned $0.82 EPS. On average, research analysts forecast that Trustmark will post 2.46 EPS for the current year.

Trustmark Dividend Announcement

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

Institutional Investors Weigh In On Trustmark

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC grew its holdings in shares of Trustmark by 4.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 12,824 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 587 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Trustmark by 3.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,802 shares of the financial services provider’s stock valued at $775,000 after acquiring an additional 1,047 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Trustmark in the 3rd quarter valued at approximately $28,000. Swiss National Bank lifted its holdings in shares of Trustmark by 1.0% in the 3rd quarter. Swiss National Bank now owns 127,500 shares of the financial services provider’s stock worth $2,771,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Trustmark by 11.7% during the 4th 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. Institutional investors and hedge funds 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.