Trustmark’s (TRMK) Neutral Rating Reiterated at Piper Sandler

Piper Sandler restated their neutral rating on shares of Trustmark (NASDAQ:TRMK) in a research note published on Tuesday, Benzinga reports. The brokerage currently has a $29.00 price objective on the financial services provider’s stock.

Other analysts also recently issued reports about the stock. Truist Financial lifted their price objective on shares of Trustmark from $21.00 to $29.00 and gave the company a hold rating in a report on Friday, December 15th. DA Davidson reaffirmed a neutral rating on shares of Trustmark in a research report on Monday, January 15th. Keefe, Bruyette & Woods lifted their price objective on shares of Trustmark from $27.00 to $30.00 and gave the stock a market perform rating in a research report on Friday, January 26th. StockNews.com raised shares of Trustmark from a sell rating to a hold rating in a research report on Thursday, February 1st. Finally, TheStreet raised shares of Trustmark from a c+ rating to a b rating in a research report on Tuesday, January 23rd. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Trustmark currently has a consensus rating of Hold and a consensus price target of $29.33.

Trustmark Trading Up 0.2 %

Shares of TRMK stock opened at $28.11 on Tuesday. Trustmark has a 52-week low of $18.96 and a 52-week high of $28.65. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 10.37 and a beta of 0.81. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.85. The firm has a fifty day moving average of $26.99 and a 200-day moving average of $24.78.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $189.85 million for the quarter, compared to analyst estimates of $187.63 million. Trustmark had a net margin of 15.06% and a return on equity of 10.77%. The company’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 EPS. On average, equities research analysts forecast that Trustmark will post 2.47 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.27%. The ex-dividend date was Thursday, February 29th. Trustmark’s payout ratio is presently 33.95%.

Hedge Funds Weigh In On Trustmark

A number of institutional investors have recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Trustmark during the 4th quarter valued at $19,060,000. State Street Corp grew its stake in shares of Trustmark by 17.7% during the 1st quarter. State Street Corp now owns 3,062,238 shares of the financial services provider’s stock worth $75,637,000 after acquiring an additional 461,549 shares during the period. Wellington Management Group LLP bought a new position in Trustmark in the 4th quarter worth about $12,572,000. BlackRock Inc. boosted its stake in Trustmark by 4.6% in the 1st quarter. BlackRock Inc. now owns 9,023,467 shares of the financial services provider’s stock worth $222,880,000 after purchasing an additional 395,082 shares during the period. Finally, Federated Hermes Inc. boosted its stake in Trustmark by 2,226.6% in the 4th quarter. Federated Hermes Inc. now owns 329,081 shares of the financial services provider’s stock worth $9,175,000 after purchasing an additional 314,937 shares during the period. 67.64% of the stock is 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.