DA Davidson Issues Positive Forecast for Trustmark (NASDAQ:TRMK) Stock Price

Trustmark (NASDAQ:TRMK) had its price objective increased by stock analysts at DA Davidson from $40.00 to $41.00 in a 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 suggest a potential upside of 9.33% from the stock’s current price. DA Davidson also issued estimates for Trustmark’s Q1 2025 earnings at $0.80 EPS.

A number of other research analysts have also weighed in on the stock. StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Hovde Group upped their price target on Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Truist Financial raised their price objective on shares of Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Finally, Janney Montgomery Scott initiated coverage on shares of Trustmark in a research note on Friday, January 24th. They set a “buy” rating and a $42.00 target price for the company. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $36.83.

Trustmark Stock Performance

TRMK opened at $37.50 on Thursday. The stock has a 50-day moving average of $36.47 and a 200-day moving average of $34.64. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. Trustmark has a 52-week low of $25.24 and a 52-week high of $40.73. The company has a market cap of $2.29 billion, a PE ratio of 10.30 and a beta of 0.76.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.83 by $0.09. Trustmark had a return on equity of 10.27% and a net margin of 19.42%. As a group, equities research analysts forecast that Trustmark will post 3.2 earnings per share for the current fiscal year.

Insider Transactions at Trustmark

In related news, Director Gerard R. Host sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $38.59, for a total transaction of $270,130.00. Following the completion of the transaction, the director now owns 16,500 shares in the company, valued at $636,735. This trade represents a 29.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TRMK. Wellington Management Group LLP grew its holdings in shares of Trustmark by 32.6% in the 3rd quarter. Wellington Management Group LLP now owns 1,356,853 shares of the financial services provider’s stock worth $43,175,000 after purchasing an additional 333,390 shares during the last quarter. Verition Fund Management LLC grew its stake in Trustmark by 19.8% during the third quarter. Verition Fund Management LLC now owns 778,312 shares of the financial services provider’s stock worth $24,766,000 after buying an additional 128,834 shares during the last quarter. Barclays PLC increased its holdings in shares of Trustmark by 124.7% during the third quarter. Barclays PLC now owns 125,743 shares of the financial services provider’s stock worth $4,001,000 after buying an additional 69,779 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Trustmark in the second quarter valued at approximately $1,372,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Trustmark by 6.8% in the 3rd quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider’s stock worth $19,059,000 after acquiring an additional 37,989 shares in the last quarter. 67.64% of the stock is currently owned by institutional investors and hedge funds.

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.