Recent Investment Analysts’ Ratings Updates for Trustmark (TRMK)

by · The Cerbat Gem

A number of firms have modified their ratings and price targets on shares of Trustmark (NASDAQ: TRMK) recently:

  • 10/29/2024 – Trustmark had its price target raised by analysts at Hovde Group from $34.00 to $37.00. They now have a “market perform” rating on the stock.
  • 10/25/2024 – Trustmark had its price target raised by analysts at Truist Financial Co. from $35.00 to $36.00. They now have a “hold” rating on the stock.
  • 10/24/2024 – Trustmark had its price target raised by analysts at DA Davidson from $35.00 to $38.00. They now have a “neutral” rating on the stock.
  • 10/24/2024 – Trustmark was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
  • 10/9/2024 – Trustmark was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
  • 10/1/2024 – Trustmark was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
  • 9/23/2024 – Trustmark was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
  • 9/20/2024 – Trustmark had its price target lowered by analysts at Truist Financial Co. from $37.00 to $35.00. They now have a “hold” rating on the stock.

Trustmark Stock Up 3.2 %

Shares of NASDAQ:TRMK traded up $1.22 during midday trading on Monday, hitting $39.86. 368,318 shares of the company’s stock traded hands, compared to its average volume of 278,802. The firm’s fifty day moving average price is $33.33 and its two-hundred day moving average price is $31.66. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. Trustmark Co. has a twelve month low of $20.85 and a twelve month high of $40.60. The company has a market cap of $2.44 billion, a PE ratio of 12.04 and a beta of 0.72.

Trustmark (NASDAQ:TRMK – Get Free Report) last issued its earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.02. The company had revenue of $192.30 million during the quarter, compared to the consensus estimate of $192.77 million. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. During the same quarter in the prior year, the business earned $0.64 earnings per share. On average, equities research analysts anticipate that Trustmark Co. will post 2.93 EPS for the current fiscal year.

Trustmark Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be given a $0.23 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.92 dividend on an annualized basis and a yield of 2.31%. Trustmark’s payout ratio is currently 27.79%.

Insider Activity

In other Trustmark news, Director Marcelo L. Eduardo sold 790 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $35.89, for a total value of $28,353.10. Following the transaction, the director now directly owns 7,334 shares of the company’s stock, valued at $263,217.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Trustmark

A number of hedge funds have recently bought and sold shares of TRMK. GAMMA Investing LLC raised its position in shares of Trustmark by 62.1% during the 2nd quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 351 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Trustmark by 2.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 17,356 shares of the financial services provider’s stock worth $552,000 after purchasing an additional 415 shares during the period. Louisiana State Employees Retirement System boosted its position in Trustmark by 2.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 30,800 shares of the financial services provider’s stock valued at $925,000 after purchasing an additional 600 shares during the period. CWM LLC grew its stake in Trustmark by 14.6% during the 2nd quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock worth $144,000 after buying an additional 611 shares during the last quarter. Finally, Texas Permanent School Fund Corp increased its position in Trustmark by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 53,449 shares of the financial services provider’s stock worth $1,502,000 after buying an additional 716 shares during the period. 67.64% of the stock is currently owned by institutional investors and hedge funds.

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.

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