Trustmark (NASDAQ:TRMK) Price Target Raised to $44.50 at Hovde Group

Trustmark (NASDAQ:TRMK) had its price target boosted by Hovde Group from $42.00 to $44.50 in a report issued on Thursday, MarketBeat reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Hovde Group’s price objective would indicate a potential upside of 5.68% from the company’s previous close.

Several other research firms have also recently weighed in on TRMK. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, January 21st. Wall Street Zen cut Trustmark from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $43.50.

Trustmark Trading Up 2.4%

Shares of TRMK opened at $42.11 on Thursday. Trustmark has a twelve month low of $29.77 and a twelve month high of $43.29. The stock has a market cap of $2.52 billion, a PE ratio of 11.51 and a beta of 0.69. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The business’s 50-day moving average price is $40.09 and its 200-day moving average price is $39.25.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.91 by $0.06. The company had revenue of $209.44 million during the quarter, compared to analysts’ expectations of $207.05 million. Trustmark had a net margin of 19.95% and a return on equity of 10.83%. During the same quarter in the previous year, the company earned $0.92 earnings per share. On average, equities analysts forecast that Trustmark will post 3.42 EPS for the current fiscal year.

Institutional Trading of Trustmark

Several hedge funds have recently added to or reduced their stakes in TRMK. Wellington Management Group LLP grew its stake in shares of Trustmark by 8.9% during 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 buying an additional 316,851 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in Trustmark by 1,927.6% in the third quarter. Bridgeway Capital Management LLC now owns 152,067 shares of the financial services provider’s stock valued at $6,022,000 after purchasing an additional 144,567 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of 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. Bank of America Corp DE grew its holdings in shares of Trustmark by 80.4% in the third quarter. Bank of America Corp DE now owns 267,147 shares of the financial services provider’s stock worth $10,579,000 after purchasing an additional 119,044 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Trustmark by 75.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 272,067 shares of the financial services provider’s stock worth $9,920,000 after buying an additional 117,389 shares during the period. 67.64% of the stock is owned by institutional investors.

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.