Trustmark (NASDAQ:TRMK) Hits New 1-Year High – Here’s Why

Trustmark Co. (NASDAQ:TRMK)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $38.11 and last traded at $38.11, with a volume of 742 shares changing hands. The stock had previously closed at $34.73.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TRMK. Truist Financial increased their target price on shares of Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Hovde Group increased their price objective on Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, DA Davidson boosted their target price on Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $35.20.

Trustmark Trading Down 2.8 %

The company has a market cap of $2.35 billion, a PE ratio of 11.58 and a beta of 0.72. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. The company has a 50 day simple moving average of $33.22 and a two-hundred day simple moving average of $31.54.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.02. The firm had revenue of $192.30 million for the quarter, compared to analyst estimates of $192.77 million. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. During the same quarter in the prior year, the business earned $0.64 EPS. Sell-side analysts forecast that Trustmark Co. will post 2.93 EPS for the current year.

Trustmark Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be paid a $0.23 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.92 dividend on an annualized basis and a yield of 2.40%. Trustmark’s dividend payout ratio (DPR) is currently 27.79%.

Insider Transactions at Trustmark

In related news, Director Marcelo L. Eduardo sold 790 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $35.89, for a total value of $28,353.10. Following the transaction, the director now owns 7,334 shares in the company, valued at approximately $263,217.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Trustmark

Several institutional investors and hedge funds have recently modified their holdings of TRMK. GAMMA Investing LLC lifted its position in shares of Trustmark by 62.1% in the second quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock worth $28,000 after buying an additional 351 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in Trustmark in the 1st quarter worth approximately $52,000. Innealta Capital LLC bought a new stake in Trustmark during the second quarter worth approximately $61,000. GoalVest Advisory LLC acquired a new position in Trustmark during the third quarter valued at approximately $63,000. Finally, nVerses Capital LLC bought a new position in shares of Trustmark in the third quarter valued at approximately $67,000. Institutional investors and hedge funds own 67.64% of the company’s stock.

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.