Trustmark (NASDAQ:TRMK) Price Target Raised to $41.00 at DA Davidson

Trustmark (NASDAQ:TRMK) had its price target increased by DA Davidson from $40.00 to $41.00 in a research report report published on Thursday,Benzinga reports. DA Davidson currently has a neutral rating on the financial services provider’s stock. DA Davidson also issued estimates for Trustmark’s Q1 2025 earnings at $0.80 EPS.

Other equities analysts have also recently issued research reports about the company. Hovde Group lifted their price objective on Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Janney Montgomery Scott initiated coverage on Trustmark in a research report on Friday, January 24th. They set a “buy” rating and a $42.00 target price on the stock. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Truist Financial lifted their price target on Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $36.83.

Trustmark Stock Performance

Shares of TRMK stock opened at $37.40 on Thursday. Trustmark has a one year low of $25.24 and a one year high of $40.73. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. The firm’s 50 day moving average price is $36.51 and its 200-day moving average price is $34.60. The firm has a market cap of $2.29 billion, a P/E ratio of 10.27 and a beta of 0.76.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. Trustmark had a return on equity of 10.27% and a net margin of 19.42%. As a group, equities research analysts predict that Trustmark will post 3.2 EPS for the current year.

Trustmark Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Friday, February 28th. This is a boost from Trustmark’s previous quarterly dividend of $0.23. Trustmark’s dividend payout ratio is 25.27%.

Insider Activity

In related news, Director Gerard R. Host sold 7,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $38.59, for a total value of $270,130.00. Following the completion of the sale, the director now owns 16,500 shares in the company, valued at $636,735. This trade represents a 29.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. GoalVest Advisory LLC purchased a new stake in shares of Trustmark during the 3rd quarter worth approximately $63,000. nVerses Capital LLC purchased a new stake in Trustmark during the third quarter worth $67,000. KBC Group NV increased its position in shares of Trustmark by 43.0% in the fourth quarter. KBC Group NV now owns 3,163 shares of the financial services provider’s stock valued at $112,000 after buying an additional 951 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Trustmark during the 3rd quarter worth $130,000. Finally, Blue Trust Inc. boosted its position in shares of Trustmark by 225.2% in the 3rd quarter. Blue Trust Inc. now owns 4,953 shares of the financial services provider’s stock worth $149,000 after buying an additional 3,430 shares in the last quarter. 67.64% of the stock is owned by hedge funds and other 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.