Trustmark Corporation (NASDAQ:TRMK – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $46.02 and last traded at $45.9020, with a volume of 84122 shares trading hands. The stock had previously closed at $45.41.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the company. Wall Street Zen raised Trustmark from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. DA Davidson reissued a “neutral” rating and issued a $44.00 target price on shares of Trustmark in a research note on Wednesday, April 29th. Piper Sandler raised their target price on Trustmark from $44.00 to $45.50 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Brean Capital initiated coverage on Trustmark in a research note on Thursday, March 12th. They issued a “buy” rating on the stock. Finally, Weiss Ratings raised Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, June 1st. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Trustmark presently has an average rating of “Hold” and a consensus target price of $44.75.
Read Our Latest Report on Trustmark
Trustmark Stock Up 0.7%
Trustmark (NASDAQ:TRMK – Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.95 EPS for the quarter, topping the consensus estimate of $0.87 by $0.08. Trustmark had a net margin of 20.12% and a return on equity of 10.74%. The business had revenue of $208.07 million during the quarter, compared to analyst estimates of $204.98 million. During the same period last year, the business posted $0.88 earnings per share. Analysts anticipate that Trustmark Corporation will post 3.92 earnings per share for the current fiscal year.
Trustmark Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a $0.25 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.00 annualized dividend and a yield of 2.2%. Trustmark’s dividend payout ratio (DPR) is 26.46%.
Institutional Trading of Trustmark
Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. purchased a new stake in Trustmark in the fourth quarter worth about $31,000. Rockefeller Capital Management L.P. lifted its holdings in shares of Trustmark by 1,129.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 848 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 779 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Trustmark during the fourth quarter valued at approximately $36,000. Bessemer Group Inc. lifted its holdings in shares of Trustmark by 37.4% during the third quarter. Bessemer Group Inc. now owns 1,073 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 292 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Trustmark by 452.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 1,022 shares during the last quarter. 67.64% of the stock is currently owned by hedge funds and other institutional investors.
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.
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