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

Trustmark (NASDAQ:TRMK - Get Free Report) had its target price boosted by stock analysts at Truist Financial from $35.00 to $36.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a "hold" rating on the financial services provider's stock. Truist Financial's target price points to a potential upside of 5.63% from the stock's current price.

Several other brokerages have also commented on TRMK. DA Davidson boosted their price target on Trustmark from $35.00 to $38.00 and gave the company a "neutral" rating in a research note on Thursday. StockNews.com upgraded shares of 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $34.75.

Trustmark Price Performance

Shares of TRMK stock traded down $0.38 during mid-day trading on Friday, reaching $34.08. The company's stock had a trading volume of 221,246 shares, compared to its average volume of 273,678. The firm's 50-day moving average is $32.65 and its two-hundred day moving average is $30.95. The company has a market cap of $2.09 billion, a P/E ratio of 13.26 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 debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 0.87.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRMK. Vanguard Group Inc. lifted its holdings in Trustmark by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 6,712,905 shares of the financial services provider's stock worth $187,156,000 after buying an additional 50,795 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Trustmark by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 4,050,787 shares of the financial services provider's stock valued at $121,683,000 after acquiring an additional 64,334 shares during the period. Earnest Partners LLC lifted its stake in shares of Trustmark by 3.1% during the second quarter. Earnest Partners LLC now owns 3,442,019 shares of the financial services provider's stock valued at $103,398,000 after acquiring an additional 102,268 shares during the period. American Century Companies Inc. boosted its holdings in Trustmark by 25.3% in the second quarter. American Century Companies Inc. now owns 986,322 shares of the financial services provider's stock valued at $29,629,000 after acquiring an additional 199,245 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Trustmark by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 685,875 shares of the financial services provider's stock worth $20,604,000 after purchasing an additional 2,714 shares during the period. 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.