Trustmark Co. (NASDAQ:TRMK - Get Free Report) reached a new 52-week high on Wednesday after Hovde Group raised their price target on the stock from $34.00 to $37.00. Hovde Group currently has a market perform rating on the stock. Trustmark traded as high as $36.14 and last traded at $35.81, with a volume of 42295 shares. The stock had previously closed at $35.08.
Several other analysts have also recently weighed in on TRMK. DA Davidson boosted their price target on Trustmark from $35.00 to $38.00 and gave the stock a "neutral" rating in a report on Thursday, October 24th. Truist Financial upped their price target on shares of Trustmark from $35.00 to $36.00 and gave the company a "hold" rating in a research report on Friday, October 25th. Finally, StockNews.com upgraded shares of Trustmark from a "sell" rating to a "hold" rating in a report on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Trustmark has an average rating of "Hold" and an average price target of $35.20.
Get Our Latest Research Report on TRMK
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. Robeco Institutional Asset Management B.V. bought a new position in Trustmark during the third quarter worth $248,000. Harbor Capital Advisors Inc. raised its position in shares of Trustmark by 2.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 17,356 shares of the financial services provider's stock worth $552,000 after acquiring an additional 415 shares in the last quarter. Arlington Trust Co LLC raised its position in shares of Trustmark by 77.0% in the 3rd quarter. Arlington Trust Co LLC now owns 5,309 shares of the financial services provider's stock worth $169,000 after acquiring an additional 2,309 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Trustmark by 225.2% during the 3rd quarter. Blue Trust Inc. now owns 4,953 shares of the financial services provider's stock valued at $149,000 after purchasing an additional 3,430 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in Trustmark during the third quarter worth approximately $67,000. Institutional investors and hedge funds own 67.64% of the company's stock.
Trustmark Stock Performance
The company has a debt-to-equity ratio of 0.10, a current ratio of 0.87 and a quick ratio of 0.86. The stock has a fifty day simple moving average of $32.77 and a two-hundred day simple moving average of $31.13. The firm has a market capitalization of $2.16 billion, a P/E ratio of 13.90 and a beta of 0.73.
Trustmark (NASDAQ:TRMK - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.82 by $0.02. Trustmark had a net margin of 17.62% and a return on equity of 9.80%. The company had revenue of $192.30 million during the quarter, compared to the consensus estimate of $192.77 million. During the same quarter last year, the firm posted $0.64 EPS. On average, research analysts predict that Trustmark Co. will post 2.92 EPS for the current year.
Trustmark Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be issued a dividend of $0.23 per share. The ex-dividend date is Friday, November 29th. This represents a $0.92 annualized dividend and a dividend yield of 2.60%. Trustmark's dividend payout ratio is currently 35.80%.
Trustmark Company Profile
(
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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.
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