Trustmark (NASDAQ:TRMK) PT Raised to $36.00 at Truist Financial

Trustmark (NASDAQ:TRMK) had its price objective upped by Truist Financial from $35.00 to $36.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s target price suggests a potential upside of 4.99% from the company’s current price.

Several other equities research analysts also recently issued reports on TRMK. DA Davidson increased their price objective on Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Trustmark presently has an average rating of “Hold” and a consensus price target of $34.75.

Trustmark Trading Down 0.5 %

Shares of NASDAQ TRMK traded down $0.17 during midday trading on Friday, hitting $34.29. The stock had a trading volume of 10,301 shares, compared to its average volume of 272,624. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 13.43 and a beta of 0.73. Trustmark has a 1-year low of $19.08 and a 1-year high of $35.75. 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 fifty day moving average price of $32.60 and a 200 day moving average price of $30.90.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. Trustmark had a return on equity of 9.32% and a net margin of 16.24%. The business had revenue of $192.30 million during the quarter, compared to analyst estimates of $192.77 million. During the same quarter last year, the company posted $0.64 EPS. On average, analysts predict that Trustmark will post 2.92 earnings per share for the current year.

Institutional Trading of Trustmark

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRMK. Blue Trust Inc. grew its holdings in shares of Trustmark by 225.2% during the 3rd quarter. Blue Trust Inc. now owns 4,953 shares of the financial services provider’s stock worth $149,000 after purchasing an additional 3,430 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Trustmark during the 3rd quarter worth approximately $67,000. SG Americas Securities LLC grew its holdings in shares of Trustmark by 338.4% during the 3rd quarter. SG Americas Securities LLC now owns 17,616 shares of the financial services provider’s stock worth $561,000 after purchasing an additional 13,598 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Trustmark during the 2nd quarter worth approximately $441,000. Finally, Magnolia Capital Advisors LLC acquired a new stake in shares of Trustmark during the 2nd quarter worth approximately $1,081,000. Institutional investors and hedge funds own 67.64% of the company’s stock.

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.