Trustmark (NASDAQ:TRMK) PT Raised to $34.00

Trustmark (NASDAQ:TRMK) had its price target lifted by equities research analysts at DA Davidson from $30.00 to $34.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s price target would indicate a potential upside of 13.14% from the stock’s previous close.

A number of other equities research analysts also recently commented on TRMK. TheStreet upgraded shares of Trustmark from a “c+” rating to a “b” rating in a research report on Tuesday, January 23rd. Keefe, Bruyette & Woods upgraded shares of Trustmark from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $30.00 to $36.00 in a research report on Thursday. Truist Financial raised their price objective on shares of Trustmark from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, April 1st. Piper Sandler reaffirmed a “neutral” rating and issued a $29.00 target price on shares of Trustmark in a report on Tuesday, March 26th. Finally, StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Four 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 an average rating of “Hold” and an average price target of $32.75.

Trustmark Price Performance

Shares of TRMK opened at $30.05 on Thursday. Trustmark has a fifty-two week low of $18.96 and a fifty-two week high of $30.21. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 11.69 and a beta of 0.82. The firm has a 50-day simple moving average of $26.83 and a 200-day simple moving average of $25.49. 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 announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.08. The firm had revenue of $288.55 million during the quarter, compared to the consensus estimate of $187.03 million. Trustmark had a net margin of 13.82% and a return on equity of 10.04%. During the same quarter last year, the firm earned $0.82 earnings per share. On average, equities research analysts anticipate that Trustmark will post 2.44 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Headlands Technologies LLC acquired a new stake in Trustmark during the third quarter worth approximately $28,000. Arlington Trust Co LLC acquired a new stake in Trustmark during the fourth quarter worth approximately $84,000. Nisa Investment Advisors LLC boosted its position in Trustmark by 1,029.7% during the third quarter. Nisa Investment Advisors LLC now owns 6,055 shares of the financial services provider’s stock worth $132,000 after acquiring an additional 5,519 shares during the last quarter. Advisor Resource Council acquired a new position in shares of Trustmark in the 4th quarter valued at $230,000. Finally, Teza Capital Management LLC acquired a new position in shares of Trustmark in the 3rd quarter valued at $242,000. 67.64% of the stock is owned by hedge funds and other 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.