Truist Financial Boosts Trustmark (NASDAQ:TRMK) Price Target to $36.00

Trustmark (NASDAQ:TRMK) had its target price hoisted by Truist Financial from $35.00 to $36.00 in a report issued on Friday morning, Benzinga reports. Truist Financial currently has a hold rating on the financial services provider’s stock.

TRMK has been the subject of a number of other reports. DA Davidson lifted their target price on Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday. StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday. 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, the company has an average rating of “Hold” and an average price target of $34.75.

Trustmark Trading Down 1.1 %

NASDAQ:TRMK opened at $34.08 on Friday. Trustmark has a 52 week low of $19.08 and a 52 week high of $35.75. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 0.87. The firm’s fifty day moving average is $32.65 and its 200-day moving average is $31.01. The firm has a market cap of $2.09 billion, a P/E ratio of 13.26 and a beta of 0.73.

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

Trustmark Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, November 29th. Trustmark’s dividend payout ratio is currently 35.80%.

Institutional Trading of Trustmark

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System lifted its stake in shares of Trustmark by 101.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 35,048 shares of the financial services provider’s stock valued at $985,000 after buying an additional 17,670 shares in the last quarter. Wakefield Asset Management LLLP acquired a new position in Trustmark during the 1st quarter valued at about $949,000. Kennedy Capital Management LLC acquired a new position in Trustmark during the 1st quarter valued at about $2,604,000. Vanguard Group Inc. increased 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 in the last quarter. Finally, Magnolia Capital Advisors LLC purchased a new stake in shares of Trustmark in the second quarter worth approximately $1,081,000. Institutional investors 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.