Trustmark (NASDAQ:TRMK) Hits New 1-Year High at $32.15

Trustmark Co. (NASDAQ:TRMK) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $32.15 and last traded at $32.15, with a volume of 2148 shares traded. The stock had previously closed at $31.10.

Separately, Piper Sandler raised their target price on shares of Trustmark from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, October 29th.

The company has a debt-to-equity ratio of 0.04, a current ratio of 0.79 and a quick ratio of 0.76. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 14.22 and a beta of 1.04. The firm’s fifty day moving average is $29.59 and its 200 day moving average is $25.70.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Monday, January 25th. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.67 by $0.14. The business had revenue of $180.43 million during the quarter, compared to analysts’ expectations of $159.78 million. Trustmark had a net margin of 19.23% and a return on equity of 8.85%. During the same period last year, the company posted $0.56 earnings per share. Equities research analysts forecast that Trustmark Co. will post 2.47 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, March 15th. Investors of record on Monday, March 1st will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, February 26th. Trustmark’s dividend payout ratio is currently 37.55%.

In related news, Director Harry M. Walker sold 4,107 shares of the firm’s stock in a transaction that occurred on Friday, January 29th. The shares were sold at an average price of $27.92, for a total transaction of $114,667.44. Following the completion of the sale, the director now directly owns 61,161 shares in the company, valued at $1,707,615.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Westwood Holdings Group Inc. raised its position in Trustmark by 50.3% during the third quarter. Westwood Holdings Group Inc. now owns 680,907 shares of the financial services provider’s stock valued at $14,579,000 after acquiring an additional 227,774 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Trustmark during the third quarter valued at approximately $4,320,000. Morgan Stanley raised its position in Trustmark by 286.6% during the fourth quarter. Morgan Stanley now owns 252,869 shares of the financial services provider’s stock valued at $6,906,000 after acquiring an additional 187,466 shares in the last quarter. AQR Capital Management LLC raised its position in Trustmark by 438.3% during the third quarter. AQR Capital Management LLC now owns 228,486 shares of the financial services provider’s stock valued at $4,892,000 after acquiring an additional 186,041 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in Trustmark by 4,203.2% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 137,358 shares of the financial services provider’s stock valued at $3,751,000 after acquiring an additional 134,166 shares in the last quarter. Institutional investors and hedge funds own 57.95% of the company’s stock.

Trustmark Company Profile (NASDAQ:TRMK)

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 offers checking, savings, and money market accounts; individual retirement accounts; certificates of deposits; 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.

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