Trustmark (NASDAQ:TRMK) Reaches New 52-Week High – Should You Buy?

Trustmark Corporation (NASDAQ:TRMK)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $46.47 and last traded at $46.3430, with a volume of 12700 shares changing hands. The stock had previously closed at $46.03.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TRMK shares. DA Davidson restated a “neutral” rating and set a $44.00 price target on shares of Trustmark in a research note on Wednesday, April 29th. Brean Capital began coverage on shares of Trustmark in a report on Thursday, March 12th. They issued a “buy” rating on the stock. Wall Street Zen raised shares of Trustmark from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $45.00 target price on shares of Trustmark in a research report on Thursday, April 9th. Finally, Piper Sandler boosted their price objective on Trustmark from $44.00 to $45.50 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $44.75.

Trustmark Stock Up 0.5%

The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The business’s 50-day moving average is $44.60 and its two-hundred day moving average is $42.91. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 12.33 and a beta of 0.65.

Trustmark (NASDAQ:TRMK) last posted its earnings results on Tuesday, April 28th. The financial services provider reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. Trustmark had a return on equity of 10.74% and a net margin of 20.12%.The company had revenue of $208.07 million for the quarter, compared to the consensus estimate of $204.98 million. During the same quarter in the previous year, the business earned $0.88 earnings per share. Equities analysts anticipate that Trustmark Corporation will post 3.92 EPS for the current year.

Trustmark Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.1%. The ex-dividend date was Monday, June 1st. Trustmark’s payout ratio is 26.46%.

Hedge Funds Weigh In On Trustmark

Several large investors have recently bought and sold shares of the business. Bank of America Corp DE boosted its holdings in shares of Trustmark by 121.1% in the 1st quarter. Bank of America Corp DE now owns 316,772 shares of the financial services provider’s stock valued at $13,349,000 after buying an additional 173,486 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Trustmark by 23.4% during the first quarter. EverSource Wealth Advisors LLC now owns 1,657 shares of the financial services provider’s stock worth $70,000 after buying an additional 314 shares during the period. Empowered Funds LLC grew its holdings in shares of Trustmark by 3.7% during the first quarter. Empowered Funds LLC now owns 254,772 shares of the financial services provider’s stock worth $10,736,000 after buying an additional 9,170 shares during the last quarter. Quantinno Capital Management LP acquired a new position in Trustmark in the 1st quarter valued at about $336,000. Finally, Lazard Asset Management LLC raised its stake in Trustmark by 18.3% during the 1st quarter. Lazard Asset Management LLC now owns 50,837 shares of the financial services provider’s stock valued at $2,142,000 after acquiring an additional 7,847 shares during the last quarter. Hedge funds and other institutional investors own 67.64% of the company’s stock.

About Trustmark

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.