Trustmark (NASDAQ:TRMK) Given New $41.00 Price Target at DA Davidson

Trustmark (NASDAQ:TRMK) had its price objective boosted by DA Davidson from $40.00 to $41.00 in a research note published on Thursday morning,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock. DA Davidson also issued estimates for Trustmark’s Q1 2025 earnings at $0.80 EPS.

Other equities analysts have also issued research reports about the stock. Janney Montgomery Scott initiated coverage on shares of Trustmark in a report on Friday, January 24th. They issued a “buy” rating and a $42.00 price target on the stock. Truist Financial lifted their price target on Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Hovde Group raised their price objective on shares of Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Finally, StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Trustmark presently has a consensus rating of “Hold” and an average target price of $36.83.

Trustmark Stock Up 0.1 %

TRMK stock opened at $37.40 on Thursday. The stock has a market capitalization of $2.29 billion, a P/E ratio of 10.27 and a beta of 0.76. 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 has a one year low of $25.24 and a one year high of $40.73. The company has a 50 day moving average price of $36.51 and a two-hundred day moving average price of $34.60.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.83 by $0.09. Trustmark had a return on equity of 10.27% and a net margin of 19.42%. As a group, sell-side analysts expect that Trustmark will post 3.2 EPS for the current year.

Trustmark Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be issued a dividend of $0.24 per share. This is a boost from Trustmark’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 2.57%. The ex-dividend date is Friday, February 28th. Trustmark’s payout ratio is currently 25.27%.

Insider Buying and Selling at Trustmark

In related news, Director Gerard R. Host sold 26,416 shares of Trustmark stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $39.73, for a total transaction of $1,049,507.68. Following the completion of the sale, the director now directly owns 26,792 shares of the company’s stock, valued at $1,064,446.16. The trade was a 49.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Trustmark

Several hedge funds have recently bought and sold shares of TRMK. GoalVest Advisory LLC acquired a new stake in Trustmark during the 3rd quarter worth $63,000. nVerses Capital LLC acquired a new stake in shares of Trustmark during the third quarter worth about $67,000. KBC Group NV lifted its holdings in shares of Trustmark by 43.0% during the 4th quarter. KBC Group NV now owns 3,163 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 951 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Trustmark in the 3rd quarter valued at approximately $130,000. Finally, Blue Trust Inc. increased its stake in Trustmark by 225.2% during the 3rd quarter. Blue Trust Inc. now owns 4,953 shares of the financial services provider’s stock worth $149,000 after purchasing an additional 3,430 shares in the last quarter. 67.64% of the stock is currently owned by institutional investors and hedge funds.

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.