Trustmark (NASDAQ:TRMK) Hits New 1-Year High – Should You Buy?

Shares of Trustmark Co. (NASDAQ:TRMK) reached a new 52-week high during trading on Thursday . The company traded as high as $35.95 and last traded at $35.95, with a volume of 321 shares traded. The stock had previously closed at $35.36.

Analysts Set New Price Targets

TRMK has been the subject of a number of recent analyst reports. Truist Financial lowered their target price on shares of Trustmark from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Friday, September 20th. StockNews.com cut shares of Trustmark from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Finally, DA Davidson lifted their target price on shares of Trustmark from $34.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Trustmark currently has an average rating of “Hold” and a consensus price target of $34.50.

Trustmark Stock Performance

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 50 day simple moving average is $32.36 and its 200 day simple moving average is $30.70. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 13.49 and a beta of 0.73.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.63 by $0.03. The business had revenue of $283.96 million during the quarter, compared to analysts’ expectations of $229.83 million. Trustmark had a net margin of 16.24% and a return on equity of 9.32%. During the same period in the previous year, the business posted $0.74 EPS. Sell-side analysts forecast that Trustmark Co. will post 2.92 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.65%. The ex-dividend date was Friday, August 30th. Trustmark’s dividend payout ratio (DPR) is 35.80%.

Hedge Funds Weigh In On Trustmark

Several institutional investors have recently made changes to their positions in TRMK. GAMMA Investing LLC increased its holdings in shares of Trustmark by 62.1% during the 2nd quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 351 shares in the last quarter. EntryPoint Capital LLC purchased a new position in shares of Trustmark during the 1st quarter valued at approximately $52,000. Innealta Capital LLC purchased a new position in shares of Trustmark during the 2nd quarter valued at approximately $61,000. nVerses Capital LLC purchased a new position in shares of Trustmark during the 3rd quarter valued at approximately $67,000. Finally, CWM LLC increased its holdings in shares of Trustmark by 14.6% during the 2nd quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 611 shares in the last quarter. 67.64% of the stock is owned by hedge funds and other institutional investors.

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.