Trustmark (NASDAQ:TRMK) Reaches New 52-Week High – Should You Buy?

Trustmark Corporation (NASDAQ:TRMK)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $46.83 and last traded at $46.8890, with a volume of 210961 shares changing hands. The stock had previously closed at $46.01.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TRMK. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $45.00 price objective on shares of Trustmark in a report on Thursday, April 9th. Brean Capital started coverage on shares of Trustmark in a research note on Thursday, March 12th. They issued a “buy” rating for the company. DA Davidson reissued a “neutral” rating and issued a $44.00 target price on shares of Trustmark in a research report on Wednesday, April 29th. Wall Street Zen upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Piper Sandler raised their price target on shares of Trustmark from $44.00 to $45.50 and gave the company a “neutral” rating in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Trustmark presently has a consensus rating of “Hold” and a consensus price target of $44.75.

Trustmark Stock Performance

The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.89. The company has a market cap of $2.72 billion, a P/E ratio of 12.27 and a beta of 0.65. The firm has a 50 day moving average price of $44.73 and a 200-day moving average price of $43.10.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. The business had revenue of $208.07 million for the quarter, compared to the consensus estimate of $204.98 million. Trustmark had a return on equity of 10.74% and a net margin of 20.12%.During the same period last year, the business earned $0.88 EPS. On average, research analysts predict that Trustmark Corporation will post 3.92 EPS for the current year.

Trustmark Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.2%. Trustmark’s dividend payout ratio (DPR) is currently 26.46%.

Institutional Trading of Trustmark

Large investors have recently modified their holdings of the company. Bank of America Corp DE raised its holdings in Trustmark by 121.1% in the 1st quarter. Bank of America Corp DE now owns 316,772 shares of the financial services provider’s stock worth $13,349,000 after acquiring an additional 173,486 shares during the period. EverSource Wealth Advisors LLC lifted its position in Trustmark by 23.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,657 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 314 shares during the last quarter. Empowered Funds LLC boosted its holdings in Trustmark by 3.7% during the first quarter. Empowered Funds LLC now owns 254,772 shares of the financial services provider’s stock valued at $10,736,000 after acquiring an additional 9,170 shares during the period. Quantinno Capital Management LP acquired a new stake in shares of Trustmark in the first quarter valued at about $336,000. Finally, Lazard Asset Management LLC grew its position in shares of Trustmark by 18.3% in the first quarter. Lazard Asset Management LLC now owns 50,837 shares of the financial services provider’s stock valued at $2,142,000 after purchasing an additional 7,847 shares during the last quarter. 67.64% of the stock is owned by institutional investors.

Trustmark Company Profile

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.