DA Davidson Raises Trustmark (NASDAQ:TRMK) Price Target to $34.00

Trustmark (NASDAQ:TRMK) had its price objective lifted by DA Davidson from $30.00 to $34.00 in a research report sent to investors on Thursday, Benzinga reports. DA Davidson currently has a neutral rating on the financial services provider’s stock.

Several other research firms have also weighed in on TRMK. Keefe, Bruyette & Woods raised 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 research report on Thursday. Piper Sandler reaffirmed a neutral rating and set a $29.00 price target on shares of Trustmark in a research report on Tuesday, March 26th. Truist Financial boosted their price target on Trustmark from $29.00 to $30.00 and gave the stock a hold rating in a research report on Monday, April 1st. StockNews.com raised Trustmark from a sell rating to a hold rating in a research report on Friday, April 19th. Finally, TheStreet raised Trustmark from a c+ rating to a b rating in a report on Tuesday, January 23rd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Trustmark has an average rating of Hold and a consensus target price of $32.75.

Trustmark Stock Up 0.8 %

Shares of Trustmark stock opened at $30.05 on Thursday. The business’s 50 day simple moving average is $26.89 and its 200 day simple moving average is $25.60. Trustmark has a 52-week low of $18.96 and a 52-week high of $30.21. The firm has a market cap of $1.84 billion, a PE ratio of 11.69 and a beta of 0.82. 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 quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.08. The firm had revenue of $288.55 million for the quarter, compared to analyst estimates of $187.03 million. Trustmark had a return on equity of 10.04% and a net margin of 13.82%. During the same quarter in the previous year, the firm earned $0.82 EPS. On average, analysts predict that Trustmark will post 2.53 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The firm 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 dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, May 31st. Trustmark’s payout ratio is presently 35.80%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TRMK. Headlands Technologies LLC acquired a new position in shares of Trustmark during the 3rd quarter worth approximately $28,000. Arlington Trust Co LLC bought a new stake in Trustmark in the 4th quarter valued at $84,000. Nisa Investment Advisors LLC boosted its stake in Trustmark by 1,029.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,055 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 5,519 shares during the period. Advisor Resource Council bought a new stake in Trustmark in the 4th quarter valued at $230,000. Finally, Teza Capital Management LLC bought a new stake in Trustmark in the 3rd quarter valued at $242,000. 67.64% of the stock is owned by institutional investors and hedge funds.

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.