Trustmark (NASDAQ:TRMK) Price Target Raised to $43.00

Trustmark (NASDAQ:TRMK) had its target price upped by DA Davidson from $39.00 to $43.00 in a research note released on Thursday morning,Benzinga reports. DA Davidson currently has a neutral rating on the financial services provider’s stock. DA Davidson also issued estimates for Trustmark’s FY2025 earnings at $3.75 EPS and FY2026 earnings at $3.91 EPS.

Other research analysts also recently issued research reports about the stock. Hovde Group boosted their target price on shares of Trustmark from $37.00 to $41.00 and gave the company a “market perform” rating in a research report on Thursday. Wall Street Zen lowered Trustmark from a “buy” rating to a “hold” rating in a report on Saturday, June 7th. Finally, Keefe, Bruyette & Woods reduced their price objective on Trustmark from $45.00 to $43.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $41.00.

Trustmark Trading Up 0.2%

Shares of Trustmark stock opened at $38.67 on Thursday. The business’s 50 day moving average is $36.19 and its 200-day moving average is $35.35. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. Trustmark has a 12-month low of $29.77 and a 12-month high of $40.73. The stock has a market cap of $2.34 billion, a P/E ratio of 10.86 and a beta of 0.66.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.06. Trustmark had a net margin of 19.21% and a return on equity of 10.81%. The company had revenue of $203.44 million for the quarter, compared to analyst estimates of $200.35 million. During the same quarter in the previous year, the business earned $0.66 earnings per share. Equities research analysts predict that Trustmark will post 3.42 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be paid a $0.24 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.96 annualized dividend and a yield of 2.48%. Trustmark’s payout ratio is 26.97%.

Institutional Trading of Trustmark

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Trustmark by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 6,686,247 shares of the financial services provider’s stock valued at $236,493,000 after acquiring an additional 30,057 shares during the period. Wellington Management Group LLP lifted its stake in shares of Trustmark by 34.2% during the 1st quarter. Wellington Management Group LLP now owns 3,318,799 shares of the financial services provider’s stock valued at $114,465,000 after buying an additional 846,238 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Trustmark by 11.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 993,941 shares of the financial services provider’s stock valued at $34,281,000 after buying an additional 99,134 shares in the last quarter. Northern Trust Corp boosted its holdings in Trustmark by 5.0% in the 4th quarter. Northern Trust Corp now owns 808,844 shares of the financial services provider’s stock worth $28,609,000 after buying an additional 38,594 shares during the period. Finally, Invesco Ltd. grew its stake in Trustmark by 1.9% in the 4th quarter. Invesco Ltd. now owns 598,861 shares of the financial services provider’s stock valued at $21,182,000 after buying an additional 11,081 shares in the last quarter. 67.64% of the stock is currently 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.