Trustmark (NASDAQ:TRMK) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Trustmark (NASDAQ:TRMK) from a sell rating to a hold rating in a research report released on Friday.

TRMK has been the topic of several other reports. Piper Sandler restated a neutral rating and set a $29.00 target price on shares of Trustmark in a report on Tuesday, March 26th. TheStreet upgraded Trustmark from a c+ rating to a b rating in a report on Tuesday, January 23rd. Keefe, Bruyette & Woods boosted their target price on Trustmark from $27.00 to $30.00 and gave the stock a market perform rating in a report on Friday, January 26th. Truist Financial boosted their target price on Trustmark from $29.00 to $30.00 and gave the stock a hold rating in a report on Monday, April 1st. Finally, DA Davidson restated a neutral rating on shares of Trustmark in a report on Monday, January 15th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of Hold and a consensus target price of $29.67.

Trustmark Trading Up 3.9 %

TRMK stock opened at $26.73 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11. Trustmark has a 12-month low of $18.96 and a 12-month high of $28.65. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 9.86 and a beta of 0.82. The business’s 50-day moving average is $26.73 and its 200 day moving average is $25.30.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.04. Trustmark had a return on equity of 10.77% and a net margin of 15.06%. The company had revenue of $189.85 million for the quarter, compared to analysts’ expectations of $187.63 million. During the same period in the previous year, the firm posted $0.68 EPS. Trustmark’s revenue was down 2.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Trustmark will post 2.44 EPS for the current fiscal year.

Trustmark Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend was Thursday, February 29th. Trustmark’s payout ratio is presently 33.95%.

Institutional Trading of Trustmark

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Trustmark by 4.6% during the 1st quarter. BlackRock Inc. now owns 9,023,467 shares of the financial services provider’s stock valued at $222,880,000 after buying an additional 395,082 shares during the period. Vanguard Group Inc. raised its position in Trustmark by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 6,712,905 shares of the financial services provider’s stock valued at $187,156,000 after purchasing an additional 50,795 shares during the period. Dimensional Fund Advisors LP raised its position in Trustmark by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 4,011,666 shares of the financial services provider’s stock valued at $99,088,000 after purchasing an additional 65,490 shares during the period. State Street Corp raised its position in Trustmark by 17.7% in the first quarter. State Street Corp now owns 3,062,238 shares of the financial services provider’s stock valued at $75,637,000 after purchasing an additional 461,549 shares during the period. Finally, Geode Capital Management LLC raised its position in Trustmark by 3.3% in the second quarter. Geode Capital Management LLC now owns 1,252,404 shares of the financial services provider’s stock valued at $26,451,000 after purchasing an additional 39,823 shares during the period. Hedge funds and other institutional investors own 67.64% of the company’s stock.

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.