Trustmark (NASDAQ:TRMK) Hits New 52-Week High – Still a Buy?

Shares of Trustmark Co. (NASDAQ:TRMK) hit a new 52-week high on Monday . The company traded as high as $40.73 and last traded at $40.18, with a volume of 65984 shares trading hands. The stock had previously closed at $39.28.

Wall Street Analysts Forecast Growth

TRMK has been the topic of several recent research reports. Hovde Group upped their price objective on shares of Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. DA Davidson increased their price target on Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Truist Financial raised their target price on Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Trustmark currently has an average rating of “Hold” and an average target price of $35.20.

Trustmark Stock Performance

The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 12.21 and a beta of 0.72. The firm has a fifty day simple moving average of $34.59 and a 200 day simple moving average of $32.24. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86.

Trustmark (NASDAQ:TRMK) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.02. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. The business had revenue of $192.30 million for the quarter, compared to analyst estimates of $192.77 million. During the same quarter last year, the business earned $0.64 earnings per share. On average, analysts anticipate that Trustmark Co. will post 2.94 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be paid a dividend of $0.23 per share. The ex-dividend date is Friday, November 29th. This represents a $0.92 annualized dividend and a yield of 2.30%. Trustmark’s dividend payout ratio (DPR) is presently 27.79%.

Insider Activity

In other Trustmark news, Director Marcelo L. Eduardo sold 790 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $35.89, for a total transaction of $28,353.10. Following the transaction, the director now owns 7,334 shares of the company’s stock, valued at approximately $263,217.26. The trade was a 9.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gerard R. Host sold 7,000 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $38.59, for a total value of $270,130.00. Following the completion of the sale, the director now owns 16,500 shares of the company’s stock, valued at approximately $636,735. The trade was a 29.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,206 shares of company stock worth $1,347,991 over the last three months. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Trustmark

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kennedy Capital Management LLC acquired a new position in Trustmark in the first quarter valued at about $2,604,000. Magnolia Capital Advisors LLC purchased a new stake in shares of Trustmark in the 2nd quarter valued at approximately $1,081,000. Dimensional Fund Advisors LP lifted its holdings in shares of Trustmark by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,050,787 shares of the financial services provider’s stock worth $121,683,000 after acquiring an additional 64,334 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Trustmark during the 2nd quarter worth approximately $1,372,000. Finally, Earnest Partners LLC raised its position in Trustmark by 3.1% in the second quarter. Earnest Partners LLC now owns 3,442,019 shares of the financial services provider’s stock valued at $103,398,000 after purchasing an additional 102,268 shares during the period. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Trustmark Company Profile

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.