Trustmark (NASDAQ:TRMK) Hits New 52-Week High – Here’s Why
by Tristan Rich · The Markets DailyTrustmark Corporation (NASDAQ:TRMK – Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $43.47 and last traded at $43.51, with a volume of 93922 shares changing hands. The stock had previously closed at $42.52.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on TRMK shares. Wall Street Zen lowered shares of Trustmark from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Hovde Group lifted their price target on shares of Trustmark from $42.00 to $44.50 and gave the company a “market perform” rating in a research note on Thursday, January 29th. DA Davidson upped their price target on Trustmark from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Trustmark in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $43.83.
View Our Latest Report on Trustmark
Trustmark Stock Performance
The company’s 50 day simple moving average is $40.53 and its 200 day simple moving average is $39.42. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.89. The stock has a market cap of $2.63 billion, a PE ratio of 11.82 and a beta of 0.69.
Trustmark (NASDAQ:TRMK – Get Free Report) last announced its earnings results on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. The firm had revenue of $209.44 million for the quarter, compared to the consensus estimate of $207.05 million. Trustmark had a return on equity of 10.77% and a net margin of 19.95%.During the same quarter in the previous year, the business earned $0.92 EPS. Analysts expect that Trustmark Corporation will post 3.42 earnings per share for the current year.
Trustmark Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Sunday, March 15th. Stockholders of record on Sunday, March 1st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, February 27th. This is a positive change from Trustmark’s previous quarterly dividend of $0.24. Trustmark’s dividend payout ratio (DPR) is presently 25.88%.
Institutional Trading of Trustmark
A number of large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its stake in Trustmark by 8.9% in the third quarter. Wellington Management Group LLP now owns 3,883,882 shares of the financial services provider’s stock valued at $153,802,000 after acquiring an additional 316,851 shares during the last quarter. UBS Group AG lifted its stake in Trustmark by 282.0% in the fourth quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock valued at $24,944,000 after purchasing an additional 472,751 shares during the last quarter. American Century Companies Inc. grew its holdings in Trustmark by 30.5% during the third quarter. American Century Companies Inc. now owns 564,180 shares of the financial services provider’s stock valued at $22,342,000 after purchasing an additional 132,023 shares during the period. Goldman Sachs Group Inc. grew its holdings in Trustmark by 17.2% during the first quarter. Goldman Sachs Group Inc. now owns 470,756 shares of the financial services provider’s stock valued at $16,236,000 after purchasing an additional 69,110 shares during the period. Finally, Fisher Asset Management LLC increased its position in Trustmark by 13.6% in the second quarter. Fisher Asset Management LLC now owns 413,465 shares of the financial services provider’s stock worth $15,075,000 after buying an additional 49,540 shares during the last quarter. Hedge funds and other institutional investors own 67.64% of the company’s stock.
Trustmark Company Profile
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.