Trustmark (NASDAQ:TRMK) PT Raised to $32.00

Trustmark (NASDAQ:TRMK) had its price objective lifted by Truist Financial from $30.00 to $32.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Truist Financial’s target price suggests a potential upside of 6.14% from the company’s current price.

A number of other research firms have also recently weighed in on TRMK. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Keefe, Bruyette & Woods upgraded Trustmark from a “market perform” rating to an “outperform” rating and increased their target price for the company from $30.00 to $36.00 in a research note on Thursday. DA Davidson increased their target price on Trustmark from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday. Piper Sandler reiterated a “neutral” rating and set a $29.00 target price on shares of Trustmark in a research note on Tuesday, March 26th. Finally, TheStreet upgraded Trustmark from a “c+” rating to a “b” rating in a research note on Tuesday, January 23rd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Trustmark has a consensus rating of “Hold” and an average target price of $32.75.

Trustmark Trading Up 1.1 %

TRMK traded up $0.33 on Friday, reaching $30.15. 119,218 shares of the company’s stock were exchanged, compared to its average volume of 281,930. The company’s 50 day moving average is $26.83 and its 200-day moving average is $25.49. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 11.70 and a beta of 0.82. Trustmark has a twelve month low of $18.96 and a twelve month high of $30.18. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.84.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.08. The firm had revenue of $288.55 million during the quarter, compared to analysts’ expectations of $187.03 million. Trustmark had a return on equity of 10.04% and a net margin of 13.82%. During the same quarter in the prior year, the business earned $0.82 EPS. Equities analysts predict that Trustmark will post 2.44 earnings per share for the current year.

Hedge Funds Weigh In On Trustmark

Large investors have recently added to or reduced their stakes in the company. AE Wealth Management LLC acquired a new stake in Trustmark in the third quarter worth $337,000. SG Americas Securities LLC acquired a new position in shares of Trustmark during the third quarter valued at $535,000. Commonwealth Equity Services LLC increased its holdings in shares of Trustmark by 4.8% during the third quarter. Commonwealth Equity Services LLC now owns 12,824 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 587 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Trustmark by 29.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,369 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 2,813 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in shares of Trustmark during the third quarter valued at $562,000. 67.64% of the stock is currently owned by institutional investors.

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.