Trustmark (NASDAQ:TRMK) Sets New 52-Week High – What’s Next?

Trustmark Corporation (NASDAQ:TRMK)’s share price hit a new 52-week high on Friday . The stock traded as high as $46.02 and last traded at $45.9020, with a volume of 84122 shares. The stock had previously closed at $45.41.

Wall Street Analyst Weigh In

Several research firms have recently commented on TRMK. Wall Street Zen raised shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $45.00 price target on shares of Trustmark in a research note on Thursday, April 9th. Weiss Ratings raised shares of Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, June 1st. Piper Sandler increased their price target on shares of Trustmark from $44.00 to $45.50 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Finally, Brean Capital began coverage on shares of Trustmark in a research note on Thursday, March 12th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $44.75.

Trustmark Trading Up 1.1%

The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The business’s fifty day moving average is $44.33 and its 200 day moving average is $42.46. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 12.15 and a beta of 0.65.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, April 28th. The financial services provider reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. The business had revenue of $208.07 million during the quarter, compared to the consensus estimate of $204.98 million. Trustmark had a net margin of 20.12% and a return on equity of 10.74%. During the same quarter last year, the firm earned $0.88 earnings per share. Equities analysts predict that Trustmark Corporation will post 3.92 earnings per share for the current year.

Trustmark Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.00 annualized dividend and a dividend yield of 2.2%. Trustmark’s payout ratio is presently 26.46%.

Institutional Trading of Trustmark

A number of institutional investors have recently bought and sold shares of the business. Blue Trust Inc. acquired a new position in shares of Trustmark in the 4th quarter valued at approximately $31,000. Rockefeller Capital Management L.P. increased its position in Trustmark by 1,129.0% in 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. acquired a new position in Trustmark in the 4th quarter valued at approximately $36,000. Bessemer Group Inc. boosted its stake in shares of Trustmark by 37.4% in the 3rd quarter. Bessemer Group Inc. now owns 1,073 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 292 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Trustmark by 452.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 1,022 shares during the last quarter. Institutional investors own 67.64% of the company’s stock.

Trustmark Company Profile

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.