DA Davidson Forecasts Strong Price Appreciation for Trustmark (NASDAQ:TRMK) Stock

Trustmark (NASDAQ:TRMK) had its price target boosted by research analysts at DA Davidson from $42.00 to $44.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s price target would indicate a potential upside of 3.48% from the company’s current price.

Other analysts also recently issued reports about the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Trustmark in a research report on Wednesday, January 21st. Hovde Group boosted their price objective on Trustmark from $42.00 to $44.50 and gave the company a “market perform” rating in a research note on Thursday. Finally, Wall Street Zen lowered shares of Trustmark from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $43.83.

Trustmark Stock Performance

NASDAQ:TRMK opened at $42.52 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $2.55 billion, a P/E ratio of 11.46 and a beta of 0.69. The company has a fifty day moving average of $40.26 and a 200-day moving average of $39.30. Trustmark has a twelve month low of $29.77 and a twelve month high of $43.29.

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

Institutional Investors Weigh In On Trustmark

Several hedge funds have recently made changes to their positions in the company. Richardson Financial Services Inc. grew 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 buying an additional 345 shares during the period. Blue Trust Inc. bought a new position in shares of Trustmark during the fourth quarter valued at $31,000. Bessemer Group Inc. boosted its holdings 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 valued at $42,000 after acquiring an additional 292 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Trustmark by 452.2% during 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 increased its position in Trustmark by 24.1% during the third quarter. IFP Advisors Inc now owns 1,375 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 267 shares during the last quarter. 67.64% of the stock is currently owned by institutional investors.

Trustmark Company Profile

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.