Trustmark (NASDAQ:TRMK) Raised to “Outperform” at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Trustmark (NASDAQ:TRMK) from a market perform rating to an outperform rating in a report published on Thursday, Marketbeat reports. They currently have $36.00 price target on the financial services provider’s stock, up from their prior price target of $30.00.

TRMK has been the topic of several other reports. StockNews.com upgraded Trustmark from a sell rating to a hold rating in a research report on Friday, April 19th. TheStreet raised Trustmark from a c+ rating to a b rating in a report on Tuesday, January 23rd. Truist Financial boosted their target price on Trustmark from $29.00 to $30.00 and gave the stock a hold rating in a report on Monday, April 1st. Piper Sandler reissued a neutral rating and issued a $29.00 target price on shares of Trustmark in a report on Tuesday, March 26th. Finally, DA Davidson reissued a neutral rating on shares of Trustmark in a report on Monday, January 15th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $32.75.

Trustmark Trading Up 0.8 %

NASDAQ TRMK opened at $30.05 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. Trustmark has a twelve month low of $18.96 and a twelve month high of $30.21. The firm has a market capitalization of $1.84 billion, a PE ratio of 11.69 and a beta of 0.82. The stock’s 50 day moving average is $26.89 and its 200 day moving average is $25.55.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.08. Trustmark had a return on equity of 10.04% and a net margin of 13.82%. The company had revenue of $288.55 million for the quarter, compared to analyst estimates of $187.03 million. During the same period in the previous year, the company posted $0.82 earnings per share. Research analysts forecast that Trustmark will post 2.46 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Friday, May 31st. Trustmark’s dividend payout ratio (DPR) is 35.80%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TRMK. Headlands Technologies LLC bought a new position in shares of Trustmark during the third quarter valued at $28,000. Arlington Trust Co LLC bought a new position in shares of Trustmark during the fourth quarter valued at $84,000. Nisa Investment Advisors LLC lifted its holdings in shares of Trustmark by 1,029.7% during the third quarter. Nisa Investment Advisors LLC now owns 6,055 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 5,519 shares in the last quarter. Advisor Resource Council bought a new position in shares of Trustmark during the fourth quarter valued at $230,000. Finally, Teza Capital Management LLC bought a new position in shares of Trustmark during the third quarter valued at $242,000. 67.64% of the stock is owned by 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.