DA Davidson Increases Trustmark (NASDAQ:TRMK) Price Target to $41.00

Trustmark (NASDAQ:TRMK) had its price objective hoisted by stock analysts at DA Davidson from $40.00 to $41.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s price target would suggest a potential upside of 7.71% from the company’s current price.

Several other analysts have also weighed in on TRMK. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Truist Financial raised their price objective on shares of Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Hovde Group increased their target price on shares of Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Finally, Janney Montgomery Scott assumed coverage on shares of Trustmark in a research report on Friday, January 24th. They issued a “buy” rating and a $42.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $36.83.

Trustmark Stock Performance

TRMK traded up $0.69 during trading hours on Thursday, hitting $38.07. The company’s stock had a trading volume of 48,842 shares, compared to its average volume of 302,011. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. Trustmark has a fifty-two week low of $25.24 and a fifty-two week high of $40.73. The company has a 50-day simple moving average of $36.53 and a 200 day simple moving average of $34.58. The firm has a market capitalization of $2.33 billion, a PE ratio of 11.51 and a beta of 0.76.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.09. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. As a group, sell-side analysts expect that Trustmark will post 2.96 EPS for the current year.

Insiders Place Their Bets

In other news, Director Gerard R. Host sold 7,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $38.59, for a total transaction of $270,130.00. Following the completion of the sale, the director now directly owns 16,500 shares of the company’s stock, valued at $636,735. This trade represents a 29.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Trustmark

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GoalVest Advisory LLC bought a new position in shares of Trustmark in the 3rd quarter valued at approximately $63,000. nVerses Capital LLC acquired a new position in Trustmark during the 3rd quarter worth $67,000. KBC Group NV boosted its stake in Trustmark by 43.0% during 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. bought a new position in Trustmark in the 3rd quarter worth approximately $130,000. Finally, Blue Trust Inc. lifted its holdings in shares of Trustmark by 225.2% during the third quarter. Blue Trust Inc. now owns 4,953 shares of the financial services provider’s stock worth $149,000 after buying an additional 3,430 shares during the last quarter. Institutional investors 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.