Trustmark (NASDAQ:TRMK) Upgraded 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 morning.

TRMK has been the topic of several other research reports. Piper Sandler restated a neutral rating and issued a $29.00 price target on shares of Trustmark in a research note on Tuesday, March 26th. Keefe, Bruyette & Woods raised Trustmark from a market perform rating to an outperform rating and lifted their target price for the company from $30.00 to $36.00 in a research note on Thursday, April 25th. DA Davidson increased their price target on Trustmark from $30.00 to $34.00 and gave the stock a neutral rating in a research note on Thursday, April 25th. TheStreet upgraded shares of Trustmark from a c+ rating to a b rating in a research note on Tuesday, January 23rd. Finally, Truist Financial increased their target price on shares of Trustmark from $30.00 to $32.00 and gave the company a hold rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $32.75.

Trustmark Price Performance

TRMK opened at $29.92 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. The company’s 50-day moving average price is $26.95 and its 200 day moving average price is $25.66. Trustmark has a fifty-two week low of $18.96 and a fifty-two week high of $30.21. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 11.64 and a beta of 0.82.

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

Trustmark Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Investors of record on Saturday, June 1st will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Friday, May 31st. Trustmark’s payout ratio is currently 35.80%.

Institutional Trading of Trustmark

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP purchased a new stake in shares of Trustmark during the fourth quarter valued at $12,572,000. Norges Bank acquired a new stake in Trustmark during the 4th quarter worth about $10,992,000. Federated Hermes Inc. boosted its holdings in shares of Trustmark by 2,226.6% in the fourth quarter. Federated Hermes Inc. now owns 329,081 shares of the financial services provider’s stock worth $9,175,000 after buying an additional 314,937 shares during the period. Hsbc Holdings PLC acquired a new position in shares of Trustmark in the fourth quarter worth about $8,215,000. Finally, Verition Fund Management LLC purchased a new position in shares of Trustmark in the fourth quarter worth approximately $5,611,000. 67.64% of the stock is currently 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.