Trustmark (NASDAQ:TRMK) Given New $36.00 Price Target at Truist Financial

Trustmark (NASDAQ:TRMK) had its price target raised by equities research analysts at Truist Financial from $35.00 to $36.00 in a report issued on Friday, Benzinga reports. The firm presently has a “hold” rating on the financial services provider’s stock. Truist Financial’s target price suggests a potential upside of 5.63% from the company’s previous close.

A number of other research firms also recently commented on TRMK. DA Davidson boosted their target price on Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Trustmark has a consensus rating of “Hold” and an average price target of $34.75.

Trustmark Trading Down 1.1 %

Trustmark stock opened at $34.08 on Friday. Trustmark has a 1 year low of $19.08 and a 1 year high of $35.75. The firm’s 50 day moving average price is $32.65 and its 200-day moving average price is $30.97. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.87 and a quick ratio of 0.86. The stock has a market cap of $2.09 billion, a P/E ratio of 10.30 and a beta of 0.73.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. Trustmark had a net margin of 17.62% and a return on equity of 9.80%. The company had revenue of $192.30 million for the quarter, compared to the consensus estimate of $192.77 million. During the same period in the previous year, the firm posted $0.64 EPS. On average, equities analysts predict that Trustmark will post 2.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trustmark

Several institutional investors have recently modified their holdings of TRMK. GAMMA Investing LLC increased its position in shares of Trustmark by 62.1% during the 2nd quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 351 shares during the last quarter. EntryPoint Capital LLC purchased a new position in Trustmark during the first quarter worth $52,000. Innealta Capital LLC purchased a new position in Trustmark during the second quarter worth $61,000. nVerses Capital LLC bought a new position in Trustmark during the third quarter valued at $67,000. Finally, CWM LLC raised its stake in shares of Trustmark by 14.6% in 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 period. 67.64% of the stock is owned by institutional investors.

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.