DA Davidson Boosts Trustmark (NASDAQ:TRMK) Price Target to $38.00

Trustmark (NASDAQ:TRMK) had its target price raised by research analysts at DA Davidson from $35.00 to $38.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s price objective points to a potential upside of 10.82% from the company’s current price.

Several other analysts also recently commented on the stock. StockNews.com downgraded shares of Trustmark from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. Truist Financial lowered their target price on shares of Trustmark from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Trustmark currently has a consensus rating of “Hold” and a consensus price target of $34.50.

Trustmark Trading Down 0.4 %

NASDAQ:TRMK traded down $0.15 during trading hours on Thursday, hitting $34.29. The company had a trading volume of 37,474 shares, compared to its average volume of 272,831. Trustmark has a 52 week low of $18.96 and a 52 week high of $35.75. The company has a market capitalization of $2.10 billion, a PE ratio of 13.34 and a beta of 0.73. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.87 and a quick ratio of 0.86. The stock has a 50-day moving average price of $32.55 and a 200 day moving average price of $30.88.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.02. Trustmark had a net margin of 16.24% and a return on equity of 9.32%. The firm had revenue of $192.30 million for the quarter, compared to the consensus estimate of $192.77 million. During the same period in the prior year, the firm earned $0.64 EPS. On average, equities research analysts predict that Trustmark will post 2.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Trustmark

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new stake in Trustmark during the 4th quarter valued at approximately $12,572,000. American Century Companies Inc. grew its holdings in shares of Trustmark by 25.3% in the second quarter. American Century Companies Inc. now owns 986,322 shares of the financial services provider’s stock valued at $29,629,000 after purchasing an additional 199,245 shares in the last quarter. Stieven Capital Advisors L.P. grew its holdings in shares of Trustmark by 57.2% in the first quarter. Stieven Capital Advisors L.P. now owns 503,000 shares of the financial services provider’s stock valued at $14,139,000 after purchasing an additional 183,100 shares in the last quarter. Hanson & Doremus Investment Management purchased a new position in shares of Trustmark in the second quarter valued at $4,199,000. Finally, Earnest Partners LLC grew its holdings in shares of Trustmark by 3.1% in the second quarter. Earnest Partners LLC now owns 3,442,019 shares of the financial services provider’s stock valued at $103,398,000 after purchasing an additional 102,268 shares in the last quarter. Institutional investors own 67.64% of the company’s stock.

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.