Hovde Group Forecasts Strong Price Appreciation for Trustmark (NASDAQ:TRMK) Stock

Trustmark (NASDAQ:TRMK) had its price objective upped by Hovde Group from $34.00 to $37.00 in a report published on Tuesday morning, MarketBeat reports. They currently have a market perform rating on the financial services provider’s stock.

Several other equities research analysts have also recently weighed in on TRMK. Truist Financial boosted their target price on Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. DA Davidson upped their target price on shares of Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Finally, StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Trustmark has an average rating of “Hold” and a consensus target price of $35.20.

Trustmark Stock Performance

Shares of Trustmark stock opened at $34.21 on Tuesday. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 10.79 and a beta of 0.73. Trustmark has a 12 month low of $20.04 and a 12 month high of $36.14. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. The business has a 50-day moving average of $32.91 and a 200 day moving average of $31.18.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. The company had revenue of $192.30 million for the quarter, compared to analyst estimates of $192.77 million. During the same quarter last year, the company earned $0.64 EPS. As a group, sell-side analysts forecast that Trustmark will post 2.93 earnings per share for the current year.

Trustmark Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be paid 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 2.69%. Trustmark’s dividend payout ratio is presently 27.79%.

Insider Buying and Selling at Trustmark

In other Trustmark news, Director Marcelo L. Eduardo sold 790 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total transaction of $28,353.10. Following the completion of the transaction, the director now owns 7,334 shares in the company, valued at approximately $263,217.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is owned by company insiders.

Institutional Trading of Trustmark

A number of institutional investors have recently modified their holdings of TRMK. GAMMA Investing LLC increased its position in shares of Trustmark by 62.1% in the second quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock valued at $28,000 after buying an additional 351 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Trustmark during the first quarter worth about $52,000. Innealta Capital LLC acquired a new position in Trustmark during the second quarter worth about $61,000. nVerses Capital LLC purchased a new stake in shares of Trustmark in the third quarter valued at about $67,000. Finally, CWM LLC grew its position in shares of Trustmark by 14.6% in the second quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 611 shares during the last quarter. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

Trustmark Company Profile

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.