Trustmark (NASDAQ:TRMK) Upgraded to “Outperform” by Keefe, Bruyette & Woods

Trustmark (NASDAQ:TRMK) was upgraded by stock analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research note issued on Thursday, Marketbeat Ratings reports. The brokerage currently has a $36.00 price objective on the financial services provider’s stock, up from their previous price objective of $30.00. Keefe, Bruyette & Woods’ target price indicates a potential upside of 19.80% from the stock’s current price.

Several other equities analysts have also commented on the company. DA Davidson restated a “neutral” rating on shares of Trustmark in a research note on Monday, January 15th. StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Piper Sandler reissued a “neutral” rating and issued a $29.00 price objective on shares of Trustmark in a research note on Tuesday, March 26th. Truist Financial increased their target price on Trustmark from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, April 1st. Finally, TheStreet raised Trustmark from a “c+” rating to a “b” rating in a research report on Tuesday, January 23rd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Trustmark has a consensus rating of “Hold” and a consensus price target of $32.75.

Trustmark Stock Up 0.8 %

Shares of NASDAQ TRMK opened at $30.05 on Thursday. Trustmark has a 1 year low of $18.96 and a 1 year high of $30.21. The firm has a 50-day simple moving average of $26.83 and a two-hundred day simple moving average of $25.49. The company has a market cap of $1.84 billion, a P/E ratio of 11.69 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.84.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.08. The firm had revenue of $288.55 million during the quarter, compared to analyst estimates of $187.03 million. Trustmark had a return on equity of 10.04% and a net margin of 13.82%. During the same period last year, the company earned $0.82 EPS. Research analysts anticipate that Trustmark will post 2.44 earnings per share for the current year.

Hedge Funds Weigh In On Trustmark

Several institutional investors and hedge funds have recently bought and sold shares of TRMK. Headlands Technologies LLC acquired a new stake in shares of Trustmark in the 3rd quarter worth $28,000. Arlington Trust Co LLC purchased a new stake in shares of Trustmark during the fourth quarter worth about $84,000. Nisa Investment Advisors LLC increased its holdings in shares of 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 valued at $132,000 after acquiring an additional 5,519 shares in the last quarter. Advisor Resource Council purchased a new position in shares of Trustmark in the 4th quarter valued at approximately $230,000. Finally, Teza Capital Management LLC purchased a new position in shares of Trustmark in the 3rd quarter valued at approximately $242,000. 67.64% of the stock is owned by hedge funds and other institutional investors.

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.