Trustmark (NASDAQ:TRMK) Coverage Initiated by Analysts at Janney Montgomery Scott

Equities researchers at Janney Montgomery Scott assumed coverage on shares of Trustmark (NASDAQ:TRMK - Get Free Report) 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 price objective suggests a potential upside of 17.68% from the company's previous close.

A number of other research analysts have also recently commented on TRMK. StockNews.com raised Trustmark from a "sell" rating to a "hold" rating in a report on Thursday, October 24th. Truist Financial raised their target price on shares of Trustmark from $35.00 to $36.00 and gave the company a "hold" rating in a research note on Friday, October 25th. DA Davidson boosted their price target on shares of Trustmark from $35.00 to $38.00 and gave the stock a "neutral" rating in a research note on Thursday, October 24th. Finally, Hovde Group increased their price objective on shares of Trustmark from $34.00 to $37.00 and gave the company a "market perform" rating in a report on Tuesday, October 29th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $36.33.

Trustmark Stock Up 1.9 %

Shares of NASDAQ:TRMK traded up $0.67 on Friday, hitting $35.69. 346,118 shares of the company traded hands, compared to its average volume of 295,195. The company has a market cap of $2.18 billion, a PE ratio of 10.78 and a beta of 0.76. The stock has a 50 day simple moving average of $36.59 and a 200-day simple moving average of $34.43. Trustmark has a 52 week low of $25.24 and a 52 week high of $40.73. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09.

Trustmark (NASDAQ:TRMK - Get Free Report) last issued its 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. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. The firm had revenue of $192.30 million for the quarter, compared to the consensus estimate of $192.77 million. During the same quarter in the prior year, the firm posted $0.64 earnings per share. As a group, research analysts expect that Trustmark will post 2.96 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Marcelo L. Eduardo sold 790 shares of the firm's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $35.89, for a total value of $28,353.10. Following the completion of the sale, the director now directly owns 7,334 shares in the company, valued at $263,217.26. This trade represents a 9.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gerard R. Host sold 26,416 shares of Trustmark stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $39.73, for a total transaction of $1,049,507.68. Following the transaction, the director now directly owns 26,792 shares of the company's stock, valued at $1,064,446.16. The trade was a 49.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,206 shares of company stock valued at $1,347,991 in the last three months. Corporate insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Trustmark

Several institutional investors have recently made changes to their positions in the company. GoalVest Advisory LLC purchased a new stake in Trustmark in the 3rd quarter worth about $63,000. nVerses Capital LLC bought a new position in shares of Trustmark during the third quarter valued at approximately $67,000. KBC Group NV raised its holdings in shares of Trustmark by 43.0% in the fourth quarter. KBC Group NV now owns 3,163 shares of the financial services provider's stock worth $112,000 after buying an additional 951 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Trustmark during the 3rd quarter worth approximately $130,000. Finally, Blue Trust Inc. boosted its holdings in Trustmark by 225.2% during the 3rd quarter. Blue Trust Inc. now owns 4,953 shares of the financial services provider's stock valued at $149,000 after acquiring an additional 3,430 shares during the period. Institutional investors 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.