DA Davidson Raises Trustmark (NASDAQ:TRMK) Price Target to $38.00

Trustmark (NASDAQ:TRMK) had its price target raised by DA Davidson from $35.00 to $38.00 in a report issued on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock. DA Davidson also issued estimates for Trustmark’s Q4 2024 earnings at $0.80 EPS and FY2024 earnings at $2.92 EPS.

A number of other research analysts also recently issued reports on TRMK. Truist Financial decreased their price objective on Trustmark from $37.00 to $35.00 and set a “hold” rating for the company in a report on Friday, September 20th. StockNews.com downgraded Trustmark from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $34.75.

Trustmark Stock Down 1.1 %

Shares of Trustmark stock opened at $34.08 on Thursday. Trustmark has a 1 year low of $19.08 and a 1 year high of $35.75. The business has a 50-day moving average of $32.65 and a two-hundred day moving average of $31.01. The company has a market capitalization of $2.09 billion, a P/E ratio of 13.26 and a beta of 0.73. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.87 and a quick ratio of 0.86.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.02. The business had revenue of $192.30 million during the quarter, compared to the consensus estimate of $192.77 million. Trustmark had a return on equity of 9.80% and a net margin of 17.62%. During the same period last year, the company earned $0.64 earnings per share. As a group, equities analysts predict that Trustmark will post 2.92 EPS for the current year.

Trustmark Dividend Announcement

The business also recently declared 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 2.70%. Trustmark’s dividend payout ratio is 35.80%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TRMK. Wellington Management Group LLP bought a new position in Trustmark in the fourth quarter valued at approximately $12,572,000. Vanguard Group Inc. lifted its holdings in Trustmark by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 6,712,905 shares of the financial services provider’s stock worth $187,156,000 after purchasing an additional 50,795 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Trustmark by 5.9% during the 1st quarter. Principal Financial Group Inc. now owns 576,057 shares of the financial services provider’s stock worth $16,193,000 after purchasing an additional 31,951 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Trustmark by 23.6% during the 1st quarter. BNP Paribas Financial Markets now owns 30,562 shares of the financial services provider’s stock worth $859,000 after purchasing an additional 5,834 shares during the last quarter. Finally, Wakefield Asset Management LLLP acquired a new stake in Trustmark during the 1st quarter worth approximately $949,000. 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.