Trustmark (NASDAQ:TRMK) Given New $47.00 Price Target at Keefe, Bruyette & Woods

Trustmark (NASDAQ:TRMK) had its price target increased by Keefe, Bruyette & Woods from $45.00 to $47.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

Several other research analysts have also weighed in on TRMK. Truist Financial increased their target price on Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Janney Montgomery Scott began coverage on Trustmark in a research note on Friday, January 24th. They issued a “buy” rating and a $42.00 price objective on the stock. Hovde Group increased their target price on shares of Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. DA Davidson lifted their price target on shares of Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $38.67.

Trustmark Stock Performance

NASDAQ TRMK opened at $36.91 on Monday. The business’s 50-day moving average price is $36.41 and its 200 day moving average price is $34.67. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. Trustmark has a twelve month low of $25.24 and a twelve month high of $40.73. The company has a market capitalization of $2.26 billion, a PE ratio of 10.14 and a beta of 0.76.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.09. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. On average, research analysts predict that Trustmark will post 3.4 earnings per share for the current year.

Trustmark Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.60%. This is a positive change from Trustmark’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, February 28th. Trustmark’s dividend payout ratio (DPR) is presently 25.27%.

Insider Buying and Selling

In other news, Director Gerard R. Host sold 7,000 shares of Trustmark stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $38.59, for a total transaction of $270,130.00. Following the sale, the director now directly owns 16,500 shares of the company’s stock, valued at approximately $636,735. The trade was a 29.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Trustmark

A number of hedge funds have recently bought and sold shares of TRMK. Harbor Capital Advisors Inc. boosted its stake 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 valued at $552,000 after buying an additional 415 shares during the last quarter. HB Wealth Management LLC raised its holdings in Trustmark by 0.7% in the fourth quarter. HB Wealth Management LLC now owns 74,634 shares of the financial services provider’s stock valued at $2,640,000 after acquiring an additional 528 shares in the last quarter. Element Wealth LLC boosted its stake in Trustmark by 6.3% during the 4th quarter. Element Wealth LLC now owns 9,018 shares of the financial services provider’s stock valued at $319,000 after acquiring an additional 533 shares during the last quarter. Blue Trust Inc. grew its holdings in Trustmark by 19.0% during the 4th quarter. Blue Trust Inc. now owns 5,896 shares of the financial services provider’s stock worth $209,000 after acquiring an additional 943 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Trustmark by 43.0% in the 4th quarter. KBC Group NV now owns 3,163 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 951 shares during the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

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.