Trustmark Co. (NASDAQ:TRMK - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $29.73 and last traded at $29.25, with a volume of 63175 shares trading hands. The stock had previously closed at $27.55.
The financial services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.60 by $0.08. Trustmark had a net margin of 15.06% and a return on equity of 10.77%. The firm had revenue of $288.55 million for the quarter, compared to analysts' expectations of $187.03 million. During the same period in the previous year, the firm posted $0.82 EPS.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on TRMK shares. Piper Sandler restated a "neutral" rating and set a $29.00 price objective on shares of Trustmark in a research note on Tuesday, March 26th. StockNews.com upgraded shares of Trustmark from a "sell" rating to a "hold" rating in a research note on Friday, April 19th. DA Davidson restated a "neutral" rating on shares of Trustmark in a research note on Monday, January 15th. TheStreet upgraded shares of Trustmark from a "c+" rating to a "b" rating in a research note on Tuesday, January 23rd. Finally, Truist Financial boosted their price objective on shares of Trustmark from $29.00 to $30.00 and gave the stock a "hold" rating in a research note on Monday, April 1st. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $29.67.
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Institutional Trading of Trustmark
Institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC bought a new stake in Trustmark in the 3rd quarter valued at about $28,000. Arlington Trust Co LLC bought a new stake in shares of Trustmark during the 4th quarter worth approximately $84,000. Nisa Investment Advisors LLC lifted its holdings in shares of Trustmark by 1,029.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,055 shares of the financial services provider's stock worth $132,000 after acquiring an additional 5,519 shares during the period. Advisor Resource Council bought a new stake in shares of Trustmark during the 4th quarter worth approximately $230,000. Finally, Element Wealth LLC bought a new stake in shares of Trustmark during the 4th quarter worth approximately $246,000. Institutional investors own 67.64% of the company's stock.
Trustmark Stock Performance
The stock's fifty day moving average price is $26.74 and its two-hundred day moving average price is $25.43. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.85. The company has a market cap of $1.80 billion, a P/E ratio of 10.78 and a beta of 0.82.
About Trustmark
(
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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.
Further Reading
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