Trustmark (NASDAQ:TRMK) PT Lowered to $35.00 at Truist Financial

Trustmark (NASDAQ:TRMK - Free Report) had its price objective trimmed by Truist Financial from $37.00 to $35.00 in a research report sent to investors on Friday, Benzinga reports. The firm currently has a hold rating on the financial services provider's stock.

Separately, DA Davidson boosted their price target on Trustmark from $34.00 to $38.00 and gave the stock a neutral rating in a research report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $34.50.

Trustmark Stock Down 2.6 %

Shares of NASDAQ:TRMK traded down $0.88 during trading on Friday, hitting $32.72. 1,050,254 shares of the company were exchanged, compared to its average volume of 280,960. Trustmark has a fifty-two week low of $18.96 and a fifty-two week high of $35.72. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 12.73 and a beta of 0.74. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. The firm has a fifty day moving average price of $32.60 and a two-hundred day moving average price of $29.86.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.03. Trustmark had a net margin of 16.24% and a return on equity of 9.32%. The firm had revenue of $283.96 million for the quarter, compared to analyst estimates of $229.83 million. During the same period in the prior year, the firm posted $0.74 earnings per share. As a group, research analysts anticipate that Trustmark will post 2.93 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were given a dividend of $0.23 per share. The ex-dividend date was Friday, August 30th. This represents a $0.92 annualized dividend and a yield of 2.81%. Trustmark's dividend payout ratio (DPR) is presently 35.80%.

Institutional Trading of Trustmark

Institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new position in Trustmark during the second quarter worth about $441,000. Magnolia Capital Advisors LLC bought a new position in shares of Trustmark during the second quarter worth approximately $1,081,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Trustmark in the second quarter valued at approximately $388,000. Earnest Partners LLC boosted its stake in shares of Trustmark by 3.1% in the second quarter. Earnest Partners LLC now owns 3,442,019 shares of the financial services provider's stock valued at $103,398,000 after buying an additional 102,268 shares during the period. Finally, Elizabeth Park Capital Advisors Ltd. bought a new stake in shares of Trustmark in the second quarter valued at approximately $1,866,000. 67.64% of the stock is currently owned by institutional investors.

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.