Trustmark (NASDAQ:TRMK) Given New $34.00 Price Target at DA Davidson

Trustmark (NASDAQ:TRMK) had its price target hoisted by research analysts at DA Davidson from $30.00 to $34.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s price objective would suggest a potential upside of 14.02% from the company’s previous close.

A number of other brokerages have also issued reports on TRMK. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. TheStreet raised shares of Trustmark from a “c+” rating to a “b” rating in a research report on Tuesday, January 23rd. Truist Financial lifted their price target on shares of Trustmark from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, April 1st. Keefe, Bruyette & Woods upgraded 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 report on Thursday. Finally, Piper Sandler restated a “neutral” rating and issued a $29.00 target price on shares of Trustmark in a research note on Tuesday, March 26th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $32.25.

Trustmark Stock Up 1.6 %

Shares of TRMK stock traded up $0.46 during mid-day trading on Thursday, reaching $29.82. 648,157 shares of the company were exchanged, compared to its average volume of 282,653. The company has a market capitalization of $1.82 billion, a P/E ratio of 11.60 and a beta of 0.82. The business’s 50 day simple moving average is $26.79 and its 200 day simple moving average is $25.46. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.85. Trustmark has a fifty-two week low of $18.96 and a fifty-two week high of $30.09.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.08. The firm had revenue of $288.55 million for the quarter, compared to analyst estimates of $187.03 million. Trustmark had a return on equity of 10.16% and a net margin of 13.82%. During the same period last year, the company earned $0.82 earnings per share. Research analysts predict that Trustmark will post 2.44 earnings per share for the current year.

Hedge Funds Weigh In On Trustmark

Hedge funds have recently modified their holdings of the company. Headlands Technologies LLC bought a new position in shares of Trustmark during the 3rd quarter worth approximately $28,000. Arlington Trust Co LLC purchased a new position in shares of Trustmark during the 4th quarter valued at $84,000. Nisa Investment Advisors LLC grew its position in shares of Trustmark by 1,029.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,055 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 5,519 shares in the last quarter. Advisor Resource Council purchased a new position in shares of Trustmark during the 4th quarter valued at $230,000. Finally, Element Wealth LLC purchased a new position in shares of Trustmark during the 4th quarter valued at $246,000. 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.