Trustmark (NASDAQ:TRMK) PT Raised to $32.00

Trustmark (NASDAQ:TRMK) had its price objective increased by equities research analysts at Truist Financial from $30.00 to $32.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s target price points to a potential upside of 6.49% from the company’s current price.

TRMK has been the topic of several other reports. Keefe, Bruyette & Woods upgraded shares of Trustmark from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $30.00 to $36.00 in a report on Thursday. StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a report on Friday, April 19th. TheStreet upgraded shares of Trustmark from a “c+” rating to a “b” rating in a report on Tuesday, January 23rd. DA Davidson increased their target price on shares of Trustmark from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Piper Sandler reiterated a “neutral” rating and set a $29.00 target price on shares of Trustmark in a report on Tuesday, March 26th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $32.75.

Trustmark Stock Performance

Shares of TRMK stock opened at $30.05 on Friday. The firm’s 50 day moving average price is $26.89 and its 200-day moving average price is $25.55. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.84. Trustmark has a one year low of $18.96 and a one year high of $30.21. The firm 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 issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.60 by $0.08. Trustmark had a net margin of 13.82% and a return on equity of 10.04%. The firm had revenue of $288.55 million for the quarter, compared to analyst estimates of $187.03 million. During the same period in the prior year, the business posted $0.82 EPS. As a group, equities research analysts predict that Trustmark will post 2.46 EPS for the current year.

Institutional Investors Weigh In On Trustmark

A number of hedge funds and other institutional investors have recently modified their holdings of TRMK. Wellington Management Group LLP acquired a new stake in shares of Trustmark in the 4th quarter valued at $12,572,000. Norges Bank acquired a new stake in shares of Trustmark in the 4th quarter valued at $10,992,000. Federated Hermes Inc. raised its holdings in shares of Trustmark by 2,226.6% in the 4th quarter. Federated Hermes Inc. now owns 329,081 shares of the financial services provider’s stock valued at $9,175,000 after purchasing an additional 314,937 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Trustmark in the 4th quarter valued at $8,215,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Trustmark in the 4th quarter valued at $5,611,000. 67.64% of the stock is currently owned by institutional investors and hedge funds.

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.