Trustmark (NASDAQ:TRMK) Coverage Initiated by Analysts at Janney Montgomery Scott

Janney Montgomery Scott assumed coverage on shares of Trustmark (NASDAQ:TRMK) in a report issued on Friday, Marketbeat reports. The brokerage issued a buy rating and a $42.00 target price on the financial services provider’s stock.

A number of other analysts have also recently issued reports on TRMK. DA Davidson increased their price objective on shares of Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Hovde Group lifted their price objective on shares of Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Truist Financial raised their price objective on shares of Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $36.33.

Trustmark Stock Up 1.9 %

TRMK stock opened at $35.69 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. The stock has a market capitalization of $2.18 billion, a P/E ratio of 10.78 and a beta of 0.76. The business has a fifty day moving average price of $36.59 and a 200-day moving average price of $34.43. Trustmark has a 1-year low of $25.24 and a 1-year high of $40.73.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.02. The firm had revenue of $192.30 million for the quarter, compared to the consensus estimate of $192.77 million. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. During the same period last year, the business posted $0.64 EPS. Equities analysts forecast that Trustmark will post 2.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Trustmark

In other news, Director Marcelo L. Eduardo sold 790 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total value of $28,353.10. Following the sale, the director now owns 7,334 shares in the company, valued at $263,217.26. This represents a 9.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gerard R. Host sold 26,416 shares of the business’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 transaction, the director now owns 26,792 shares of the company’s stock, valued at $1,064,446.16. This represents a 49.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,206 shares of company stock valued at $1,347,991. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Trustmark

Several institutional investors and hedge funds have recently modified their holdings of TRMK. GoalVest Advisory LLC purchased a new position in Trustmark during the third quarter valued at approximately $63,000. nVerses Capital LLC purchased a new position in shares of Trustmark during the 3rd quarter valued at approximately $67,000. KBC Group NV lifted its stake in shares of Trustmark by 43.0% in the 4th quarter. KBC Group NV now owns 3,163 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 951 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Trustmark during the third quarter worth $130,000. Finally, Blue Trust Inc. increased its holdings in Trustmark by 225.2% in the third quarter. Blue Trust Inc. now owns 4,953 shares of the financial services provider’s stock valued at $149,000 after buying an additional 3,430 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

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.