DA Davidson Boosts Trustmark (NASDAQ:TRMK) Price Target to $34.00

Trustmark (NASDAQ:TRMK - Free Report) had its target price hoisted by DA Davidson from $30.00 to $34.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the financial services provider's stock.

Several other analysts also recently weighed in on the company. Piper Sandler restated a neutral rating and issued a $29.00 price target on shares of Trustmark in a research note on Tuesday, March 26th. StockNews.com raised Trustmark from a sell rating to a hold rating in a research report on Friday, April 19th. Truist Financial upped their price objective on Trustmark from $29.00 to $30.00 and gave the company a hold rating in a research report on Monday, April 1st. Keefe, Bruyette & Woods raised Trustmark from a market perform rating to an outperform rating and upped their price objective for the company from $30.00 to $36.00 in a research report on Thursday. Finally, TheStreet raised Trustmark from a c+ rating to a b rating in a research report on Tuesday, January 23rd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, Trustmark presently has an average rating of Hold and a consensus target price of $32.25.

Trustmark Stock Up 1.6 %

Shares of Trustmark stock traded up $0.46 during midday trading on Thursday, hitting $29.82. The company had a trading volume of 739,757 shares, compared to its average volume of 282,886. 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 stock has a market capitalization of $1.82 billion, a P/E ratio of 11.60 and a beta of 0.82. The company has a 50 day moving average of $26.79 and a 200 day moving average of $25.46. Trustmark has a 52-week low of $18.96 and a 52-week high of $30.09.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.08. The company had revenue of $288.55 million for the quarter, compared to the consensus estimate of $187.03 million. Trustmark had a return on equity of 10.16% and a net margin of 13.82%. During the same quarter in the prior year, the business posted $0.82 EPS. On average, equities analysts predict that Trustmark will post 2.44 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.92 annualized dividend and a dividend yield of 3.09%. Trustmark's payout ratio is 35.80%.

Hedge Funds Weigh In On Trustmark

Hedge funds and other institutional investors have recently modified their holdings of the company. Headlands Technologies LLC bought a new position in shares of Trustmark during the 3rd quarter valued at $28,000. Arlington Trust Co LLC bought a new position in shares of Trustmark during the 4th quarter valued at $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 valued at $132,000 after buying an additional 5,519 shares during the period. Advisor Resource Council bought a new position in shares of Trustmark during the 4th quarter valued at $230,000. Finally, Teza Capital Management LLC bought a new position in shares of Trustmark during the 3rd quarter valued at $242,000. 67.64% of the stock is owned by 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.