Trustmark (NASDAQ:TRMK) Hits New 52-Week High – Still a Buy?

by · The Cerbat Gem

Trustmark Corporation (NASDAQ:TRMK – Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as $47.62 and last traded at $47.7240, with a volume of 26381 shares. The stock had previously closed at $46.73.

Analyst Upgrades and Downgrades

TRMK has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, June 1st. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $45.00 target price on shares of Trustmark in a research note on Thursday, April 9th. DA Davidson reiterated a “neutral” rating and issued a $44.00 price target on shares of Trustmark in a report on Wednesday, April 29th. Piper Sandler increased their price objective on shares of Trustmark from $44.00 to $45.50 and gave the company a “neutral” rating in a report on Thursday, April 30th. Finally, Wall Street Zen upgraded Trustmark from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Trustmark has a consensus rating of “Hold” and an average price target of $44.75.

Read Our Latest Stock Analysis on TRMK

Trustmark Price Performance

The stock has a market capitalization of $2.80 billion, a PE ratio of 12.63 and a beta of 0.65. 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 firm’s 50-day moving average price is $44.99 and its 200-day moving average price is $43.45.

Trustmark (NASDAQ:TRMK – Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. The business had revenue of $208.07 million for the quarter, compared to the consensus estimate of $204.98 million. Trustmark had a return on equity of 10.74% and a net margin of 20.12%.During the same period in the prior year, the business posted $0.88 earnings per share. On average, equities analysts forecast that Trustmark Corporation will post 3.92 EPS for the current fiscal year.

Trustmark Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a $0.25 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.00 dividend on an annualized basis and a yield of 2.1%. Trustmark’s dividend payout ratio (DPR) is currently 26.46%.

Institutional Investors Weigh In On Trustmark

Several institutional investors have recently made changes to their positions in TRMK. Blue Trust Inc. purchased a new stake in Trustmark in the 4th quarter worth about $31,000. Rockefeller Capital Management L.P. raised its holdings in shares of Trustmark by 1,129.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 848 shares of the financial services provider’s stock worth $33,000 after buying an additional 779 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Trustmark during the 4th quarter worth approximately $36,000. EverSource Wealth Advisors LLC boosted its holdings in Trustmark by 452.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 1,022 shares during the period. Finally, IFP Advisors Inc grew its position in Trustmark by 24.1% in the 3rd quarter. IFP Advisors Inc now owns 1,375 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 267 shares during the last quarter. Institutional investors own 67.64% of the company’s stock.

About Trustmark

(Get Free Report)

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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