Trustmark (NASDAQ:TRMK) Hits New 12-Month High – Should You Buy?

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

Wall Street Analyst Weigh In

Several analysts recently commented on TRMK shares. StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. DA Davidson raised their price target on shares of Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Truist Financial raised their price target on shares of Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Finally, Hovde Group raised their price target on shares of Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $35.20.

Trustmark Price Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 12.02 and a beta of 0.72. The stock’s 50 day simple moving average is $34.88 and its 200-day simple moving average is $32.37.

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

Trustmark Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Friday, November 29th. Trustmark’s payout ratio is 27.79%.

Insider Transactions at Trustmark

In related news, Director Gerard R. Host sold 26,416 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $39.73, for a total transaction of $1,049,507.68. Following the transaction, the director now owns 26,792 shares of the company’s stock, valued at approximately $1,064,446.16. The trade was a 49.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 directly owns 7,334 shares in the company, valued at $263,217.26. This trade represents a 9.72 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,206 shares of company stock worth $1,347,991. 1.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Trustmark

A number of institutional investors and hedge funds have recently bought and sold shares of TRMK. Russell Investments Group Ltd. bought a new position in Trustmark during the first quarter worth $240,000. CANADA LIFE ASSURANCE Co increased its position in Trustmark by 6.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 54,949 shares of the financial services provider’s stock worth $1,542,000 after acquiring an additional 3,492 shares during the period. Price T Rowe Associates Inc. MD increased its position in Trustmark by 4.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 46,070 shares of the financial services provider’s stock worth $1,296,000 after acquiring an additional 2,109 shares during the period. Kennedy Capital Management LLC bought a new position in Trustmark during the first quarter worth $2,604,000. Finally, Comerica Bank increased its position in Trustmark by 18.7% during the first quarter. Comerica Bank now owns 34,013 shares of the financial services provider’s stock worth $956,000 after acquiring an additional 5,360 shares during the period. 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.