Trustmark (NASDAQ:TRMK) Price Target Raised to $41.00 at DA Davidson

Trustmark (NASDAQ:TRMK) had its price target hoisted by stock analysts at DA Davidson from $40.00 to $41.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s target price points to a potential upside of 7.71% from the stock’s current price.

Other analysts have also recently issued reports about the company. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Hovde Group lifted their price target on shares of Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Truist Financial boosted their price target on shares of Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a report on Friday, October 25th. Finally, Janney Montgomery Scott assumed coverage on Trustmark in a research note on Friday, January 24th. They set a “buy” rating and a $42.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $36.83.

Trustmark Trading Up 1.8 %

Trustmark stock traded up $0.69 during trading hours on Thursday, reaching $38.07. 48,842 shares of the company’s stock traded hands, compared to its average volume of 302,011. Trustmark has a fifty-two week low of $25.24 and a fifty-two week high of $40.73. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 11.51 and a beta of 0.76. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. The firm’s 50 day moving average is $36.53 and its 200-day moving average is $34.58.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. On average, analysts predict that Trustmark will post 2.96 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Gerard R. Host sold 7,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $38.59, for a total value of $270,130.00. Following the completion of the sale, the director now directly owns 16,500 shares in the company, valued at approximately $636,735. This trade represents a 29.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Harbor Capital Advisors Inc. lifted its holdings in Trustmark by 2.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 17,356 shares of the financial services provider’s stock worth $552,000 after purchasing an additional 415 shares during the last quarter. HB Wealth Management LLC lifted its holdings in shares of Trustmark by 0.7% during the fourth quarter. HB Wealth Management LLC now owns 74,634 shares of the financial services provider’s stock worth $2,640,000 after buying an additional 528 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Trustmark by 19.0% in the fourth quarter. Blue Trust Inc. now owns 5,896 shares of the financial services provider’s stock valued at $209,000 after acquiring an additional 943 shares during the period. KBC Group NV grew its stake in shares of Trustmark by 43.0% in the fourth quarter. KBC Group NV now owns 3,163 shares of the financial services provider’s stock valued at $112,000 after acquiring an additional 951 shares in the last quarter. Finally, Legacy Wealth Management LLC MS boosted its holdings in Trustmark by 10.3% in the 3rd quarter. Legacy Wealth Management LLC MS now owns 10,700 shares of the financial services provider’s stock valued at $340,000 after purchasing an additional 1,000 shares during the period. 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.