Keefe, Bruyette & Woods Increases Trustmark (NASDAQ:TRMK) Price Target to $47.00

Trustmark (NASDAQ:TRMK) had its price target hoisted by equities researchers at Keefe, Bruyette & Woods from $45.00 to $47.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 24.37% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the stock. Truist Financial upped their target price 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. StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. DA Davidson increased their target price on Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Janney Montgomery Scott initiated coverage on Trustmark in a report on Friday, January 24th. They set a “buy” rating and a $42.00 price target for the company. Finally, Hovde Group boosted their target price on Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating and two have assigned 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 $38.67.

Trustmark Stock Performance

Trustmark stock opened at $37.79 on Monday. The firm has a 50 day simple moving average of $36.37 and a 200-day simple moving average of $34.70. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 10.38 and a beta of 0.76. Trustmark has a 1-year low of $25.24 and a 1-year high of $40.73.

Trustmark (NASDAQ:TRMK) last announced 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 net margin of 19.42% and a return on equity of 10.12%. On average, analysts expect that Trustmark will post 3.4 EPS for the current year.

Insider Buying and Selling

In other news, Director Gerard R. Host sold 7,000 shares of the company’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 of the company’s stock, valued at approximately $636,735. This represents a 29.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Trustmark

Several institutional investors have recently added to or reduced their stakes in TRMK. Harbor Capital Advisors Inc. grew its stake in shares of Trustmark by 2.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 17,356 shares of the financial services provider’s stock valued at $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 purchasing an additional 528 shares during the period. Element Wealth LLC grew its position in Trustmark by 6.3% in the 4th quarter. Element Wealth LLC now owns 9,018 shares of the financial services provider’s stock valued at $319,000 after buying an additional 533 shares during the last quarter. Blue Trust Inc. increased its stake in Trustmark by 19.0% in the 4th quarter. Blue Trust Inc. now owns 5,896 shares of the financial services provider’s stock valued at $209,000 after buying an additional 943 shares during the period. Finally, KBC Group NV increased its stake in Trustmark by 43.0% in the 4th quarter. KBC Group NV now owns 3,163 shares of the financial services provider’s stock valued at $112,000 after buying an additional 951 shares during the period. Institutional investors and hedge funds 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.