Janney Montgomery Scott assumed coverage on shares of Trustmark (NASDAQ:TRMK – Get Free Report) in a report issued on Friday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $42.00 price target on the financial services provider’s stock. Janney Montgomery Scott’s price objective would indicate a potential upside of 19.93% from the company’s current price.
Several other equities analysts have also commented on the company. DA Davidson upped their target price on Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Truist Financial raised their target price on shares of Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Hovde Group lifted their price target 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. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Trustmark presently has a consensus rating of “Hold” and an average price target of $36.33.
Get Our Latest Stock Analysis on Trustmark
Trustmark Stock Performance
Trustmark (NASDAQ:TRMK – Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.02. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. The company had revenue of $192.30 million during the quarter, compared to the consensus estimate of $192.77 million. During the same period in the previous year, the firm posted $0.64 EPS. On average, equities analysts anticipate that Trustmark will post 2.96 earnings per share for the current year.
Insiders Place Their Bets
In related news, Director Gerard R. Host sold 26,416 shares of the company’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 completion of the sale, the director now directly owns 26,792 shares of the company’s stock, valued at approximately $1,064,446.16. This represents a 49.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marcelo L. Eduardo sold 790 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total value of $28,353.10. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,206 shares of company stock worth $1,347,991 over the last ninety days. 1.50% of the stock is owned by company insiders.
Hedge Funds Weigh In On Trustmark
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC raised its stake in shares of Trustmark by 124.7% during the third quarter. Barclays PLC now owns 125,743 shares of the financial services provider’s stock valued at $4,001,000 after purchasing an additional 69,779 shares during the period. Principal Financial Group Inc. lifted its holdings in Trustmark by 6.8% in the 3rd quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider’s stock worth $19,059,000 after buying an additional 37,989 shares in the last quarter. State Street Corp boosted its position in Trustmark by 0.8% in the 3rd quarter. State Street Corp now owns 3,090,988 shares of the financial services provider’s stock valued at $98,355,000 after buying an additional 24,450 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Trustmark by 1.1% during the third quarter. Geode Capital Management LLC now owns 1,461,545 shares of the financial services provider’s stock valued at $46,515,000 after acquiring an additional 15,627 shares in the last quarter. Finally, Magnolia Capital Advisors LLC purchased a new stake in shares of Trustmark during the second quarter worth about $1,081,000. 67.64% of the stock is owned by institutional investors and hedge funds.
About Trustmark
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.
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