Trustmark (NASDAQ:TRMK) Hits New 12-Month High - Here's Why

Key Points

• Trustmark hit a new 52‑week high, trading as high as $45.99 (last at $45.4550) on Tuesday with about 26,906 shares changing hands.
• Analyst sentiment is mixed—two Buy and four Hold ratings—resulting in an average rating of "Hold" and an average price target of $44.50, with recent targets ranging roughly $42–$45.
• The company beat quarterly expectations (EPS $0.97 vs. $0.91 est.; revenue $209.4M vs. $207.1M), posts a ROE of 10.77% and a net margin ~19.95%, and trades at a PE of 12.17 with a market cap of about $2.66 billion.

Trustmark Corporation (NASDAQ:TRMK - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $45.99 and last traded at $45.4550, with a volume of 26906 shares. The stock had previously closed at $45.08.

Wall Street Analyst Weigh In

TRMK has been the subject of several recent analyst reports. DA Davidson boosted their target price on Trustmark from $42.00 to $44.00 and gave the stock a "neutral" rating in a research report on Thursday, January 29th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $45.00 target price on shares of Trustmark in a research report on Thursday, April 9th. Brean Capital assumed coverage on Trustmark in a research report on Thursday, March 12th. They set a "buy" rating for the company. Wall Street Zen cut Trustmark from a "hold" rating to a "sell" rating in a report on Saturday, April 11th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Trustmark in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Trustmark currently has an average rating of "Hold" and an average price target of $44.50.

Trustmark Price Performance

The business has a fifty day moving average price of $43.14 and a 200-day moving average price of $41.08. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $2.66 billion, a PE ratio of 12.17 and a beta of 0.65.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.06. Trustmark had a return on equity of 10.77% and a net margin of 19.95%.The firm had revenue of $209.44 million during the quarter, compared to analysts' expectations of $207.05 million. During the same period in the prior year, the business earned $0.92 EPS. Research analysts expect that Trustmark Corporation will post 3.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Trustmark

Institutional investors have recently bought and sold shares of the stock. Richardson Financial Services Inc. boosted its holdings in Trustmark by 86.7% during the 3rd quarter. Richardson Financial Services Inc. now owns 743 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 345 shares during the period. Blue Trust Inc. purchased a new stake in Trustmark during the 4th quarter valued at about $31,000. Rockefeller Capital Management L.P. boosted its holdings in Trustmark by 1,129.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 848 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 779 shares during the period. Meeder Asset Management Inc. purchased a new stake in Trustmark during the 4th quarter valued at about $36,000. Finally, Bessemer Group Inc. boosted its holdings in Trustmark by 37.4% during the 3rd quarter. Bessemer Group Inc. now owns 1,073 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 292 shares during the period. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

About Trustmark

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark's offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.

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