Trustmark (NASDAQ:TRMK) PT Raised to $38.00 at DA Davidson

Trustmark (NASDAQ:TRMK) had its target price lifted by analysts at DA Davidson from $35.00 to $38.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s price target points to a potential upside of 11.50% from the company’s current price. DA Davidson also issued estimates for Trustmark’s Q4 2024 earnings at $0.80 EPS and FY2024 earnings at $2.92 EPS.

Several other equities analysts also recently weighed in on the stock. StockNews.com downgraded shares of Trustmark from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Truist Financial decreased their price target 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. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $34.75.

Trustmark Stock Performance

TRMK opened at $34.08 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.10. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 13.26 and a beta of 0.73. Trustmark has a 52-week low of $19.08 and a 52-week high of $35.75. The firm’s fifty day simple moving average is $32.65 and its two-hundred day simple moving average is $30.95.

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

Institutional Investors Weigh In On Trustmark

Several hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of Trustmark by 62.1% during the second quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 351 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Trustmark during the first quarter valued at about $52,000. Innealta Capital LLC acquired a new stake in shares of Trustmark during the second quarter valued at about $61,000. nVerses Capital LLC acquired a new stake in shares of Trustmark during the third quarter valued at about $67,000. Finally, CWM LLC increased its position in shares of Trustmark by 14.6% during the second quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock valued at $144,000 after acquiring an additional 611 shares during the last quarter. 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.