Truist Financial Trims Trustmark (NASDAQ:TRMK) Target Price to $35.00

Trustmark (NASDAQ:TRMK) had its price target decreased by Truist Financial from $37.00 to $35.00 in a report published on Friday, Benzinga reports. Truist Financial currently has a hold rating on the financial services provider’s stock.

Separately, DA Davidson lifted their price target on shares of Trustmark from $34.00 to $38.00 and gave the stock a neutral rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $34.50.

Trustmark Stock Performance

TRMK stock opened at $32.48 on Friday. The stock’s 50 day simple moving average is $32.63 and its 200 day simple moving average is $29.99. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. Trustmark has a 12-month low of $18.96 and a 12-month high of $35.72. The stock has a market capitalization of $1.99 billion, a PE ratio of 12.64 and a beta of 0.74.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. Trustmark had a return on equity of 9.32% and a net margin of 16.24%. The firm had revenue of $283.96 million for the quarter, compared to the consensus estimate of $229.83 million. During the same period in the prior year, the company posted $0.74 earnings per share. As a group, research analysts forecast that Trustmark will post 2.93 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.92 annualized dividend and a yield of 2.83%. Trustmark’s payout ratio is 35.80%.

Institutional Investors Weigh In On Trustmark

Hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its position in Trustmark by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 883,423 shares of the financial services provider’s stock valued at $24,630,000 after buying an additional 52,320 shares during the period. Norges Bank bought a new stake in shares of Trustmark during the 4th quarter valued at $10,992,000. Hsbc Holdings PLC purchased a new stake in shares of Trustmark in the 4th quarter worth $8,215,000. Connable Office Inc. bought a new position in Trustmark in the 4th quarter worth $446,000. Finally, Elizabeth Park Capital Advisors Ltd. purchased a new position in Trustmark during the fourth quarter valued at $1,592,000. Hedge funds and other institutional investors own 67.64% of the company’s stock.

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.