Trustmark (NASDAQ:TRMK) Reaches New 12-Month High – What’s Next?

Trustmark Co. (NASDAQ:TRMK)’s stock price reached a new 52-week high during trading 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.

Analyst Ratings Changes

TRMK has been the topic of several research analyst reports. DA Davidson raised their price target on shares of Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Hovde Group boosted their price target on Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Truist Financial upped their price target on Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a report on Friday, October 25th. Finally, StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Trustmark presently has an average rating of “Hold” and a consensus price target of $35.20.

Trustmark Stock Down 2.8 %

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

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

Trustmark Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Friday, November 29th. Trustmark’s payout ratio is 27.79%.

Insider Buying and Selling

In related news, Director Marcelo L. Eduardo sold 790 shares of Trustmark stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $35.89, for a total value of $28,353.10. Following the completion of the transaction, the director now directly owns 7,334 shares of the company’s stock, valued at $263,217.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trustmark

Large investors have recently made changes to their positions in the company. Quest Partners LLC bought a new stake in shares of Trustmark during the third quarter worth approximately $309,000. GoalVest Advisory LLC bought a new stake in shares of Trustmark during the 3rd quarter valued at $63,000. Cornercap Investment Counsel Inc. acquired a new position in shares of Trustmark in the 3rd quarter valued at $248,000. Aptus Capital Advisors LLC acquired a new stake in shares of Trustmark during the third quarter worth $537,000. Finally, Principal Financial Group Inc. increased its holdings in Trustmark by 6.8% in the third quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider’s stock valued at $19,059,000 after purchasing an additional 37,989 shares during the last quarter. Institutional investors and hedge funds 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.