Trustmark (NASDAQ:TRMK) Earns Buy Rating from Analysts at Janney Montgomery Scott

Janney Montgomery Scott started coverage on shares of Trustmark (NASDAQ:TRMK) in a note issued to investors on Friday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $42.00 price target on the financial services provider’s stock. Janney Montgomery Scott’s target price indicates a potential upside of 17.68% from the stock’s current price.

Several other analysts have also recently commented on the company. DA Davidson lifted their price target on Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Truist Financial upped their price target 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, Hovde Group raised their price objective on shares of Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Trustmark presently has an average rating of “Hold” and an average target price of $36.33.

Trustmark Stock Up 1.9 %

TRMK stock opened at $35.69 on Friday. The stock has a market capitalization of $2.18 billion, a PE ratio of 10.78 and a beta of 0.76. The company has a fifty day moving average of $36.59 and a 200-day moving average of $34.46. 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 one year low of $25.24 and a one year high of $40.73.

Insider Activity at Trustmark

In other news, Director Marcelo L. Eduardo sold 790 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total value of $28,353.10. Following the transaction, the director now owns 7,334 shares of the company’s stock, valued at approximately $263,217.26. This trade represents a 9.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gerard R. Host sold 7,000 shares of the company’s stock in a transaction 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 sale, the director now directly owns 16,500 shares of the company’s stock, valued at approximately $636,735. This trade represents a 29.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,206 shares of company stock worth $1,347,991. 1.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TRMK. BankPlus Wealth Management LLC acquired a new position in shares of Trustmark in the fourth quarter worth about $433,000. KBC Group NV increased its holdings in Trustmark by 43.0% during the 4th quarter. KBC Group NV now owns 3,163 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 951 shares during the last quarter. Blue Trust Inc. raised its position in shares of 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 purchasing an additional 943 shares in the last quarter. HB Wealth Management LLC boosted its stake in shares of Trustmark by 0.7% during the 4th quarter. HB Wealth Management LLC now owns 74,634 shares of the financial services provider’s stock valued at $2,640,000 after buying an additional 528 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Trustmark by 10.7% during the third quarter. JPMorgan Chase & Co. now owns 122,956 shares of the financial services provider’s stock worth $3,912,000 after buying an additional 11,934 shares in the last quarter. 67.64% of the stock is 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.