Trustmark (NASDAQ:TRMK) Stock Price Expected to Rise, Hovde Group Analyst Says

Trustmark (NASDAQ:TRMK) had its price objective upped by analysts at Hovde Group from $42.00 to $44.50 in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Hovde Group’s price objective would indicate a potential upside of 4.66% from the stock’s current price.

TRMK has been the subject of several other research reports. Wall Street Zen cut Trustmark from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $43.83.

Trustmark Trading Up 0.5%

TRMK opened at $42.52 on Thursday. The stock has a market capitalization of $2.55 billion, a PE ratio of 11.46 and a beta of 0.69. The firm’s fifty day moving average price is $40.26 and its 200 day moving average price is $39.30. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.87. Trustmark has a 12-month low of $29.77 and a 12-month high of $43.29.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.06. The business had revenue of $209.44 million for the quarter, compared to analyst estimates of $207.05 million. Trustmark had a return on equity of 10.77% and a net margin of 19.95%.During the same period in the prior year, the company posted $0.92 EPS. As a group, research analysts expect that Trustmark will post 3.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Trustmark

Several institutional investors have recently modified their holdings of TRMK. Richardson Financial Services Inc. boosted its position in shares of Trustmark by 86.7% in the 3rd quarter. Richardson Financial Services Inc. now owns 743 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 345 shares during the last quarter. Blue Trust Inc. bought a new stake in Trustmark in the 4th quarter valued at approximately $31,000. Bessemer Group Inc. boosted its stake in shares of Trustmark by 37.4% during the 3rd quarter. Bessemer Group Inc. now owns 1,073 shares of the financial services provider’s stock worth $42,000 after buying an additional 292 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Trustmark by 452.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock valued at $46,000 after buying an additional 1,022 shares during the last quarter. Finally, IFP Advisors Inc lifted its stake in Trustmark by 24.1% in the 3rd quarter. IFP Advisors Inc now owns 1,375 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 267 shares during the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

About Trustmark

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.