Trustmark (NASDAQ:TRMK) Price Target Increased to $32.00 by Analysts at Truist Financial

Trustmark (NASDAQ:TRMK) had its price objective lifted by stock analysts at Truist Financial from $30.00 to $32.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price target suggests a potential upside of 6.49% from the company’s previous close.

Several other analysts have also issued reports on TRMK. 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. DA Davidson boosted their target price on Trustmark from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday. TheStreet upgraded Trustmark from a “c+” rating to a “b” rating in a research note on Tuesday, January 23rd. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Finally, Keefe, Bruyette & Woods upgraded Trustmark from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $30.00 to $36.00 in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $32.75.

Trustmark Stock Up 0.8 %

TRMK stock opened at $30.05 on Friday. The stock’s fifty day simple moving average is $26.89 and its two-hundred day simple moving average is $25.55. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11. Trustmark has a 1-year low of $18.96 and a 1-year high of $30.21. The stock has a market cap of $1.84 billion, a P/E ratio of 11.69 and a beta of 0.82.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data 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. Trustmark had a return on equity of 10.04% and a net margin of 13.82%. The business had revenue of $288.55 million for the quarter, compared to analysts’ expectations of $187.03 million. During the same quarter in the previous year, the firm earned $0.82 earnings per share. Analysts expect that Trustmark will post 2.46 EPS for the current year.

Institutional Trading of Trustmark

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC raised its stake in shares of Trustmark by 4.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 12,824 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 587 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Trustmark by 3.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,802 shares of the financial services provider’s stock worth $775,000 after acquiring an additional 1,047 shares during the last quarter. Headlands Technologies LLC bought a new position in Trustmark in the 3rd quarter worth about $28,000. Swiss National Bank increased its stake in Trustmark by 1.0% in the 3rd quarter. Swiss National Bank now owns 127,500 shares of the financial services provider’s stock worth $2,771,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Trustmark by 11.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,818 shares of the financial services provider’s stock worth $385,000 after acquiring an additional 1,449 shares during the last quarter. 67.64% of the stock is currently owned by 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.