Trustmark (NASDAQ:TRMK) Given New $34.00 Price Target at DA Davidson

Trustmark (NASDAQ:TRMK) had its price objective lifted by analysts at DA Davidson from $30.00 to $34.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s target price points to a potential upside of 14.02% from the stock’s previous close.

TRMK has been the topic of a number of other research reports. TheStreet upgraded shares of Trustmark from a “c+” rating to a “b” rating in a research note on Tuesday, January 23rd. Truist Financial increased their price objective on shares of Trustmark from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, April 1st. Piper Sandler reiterated a “neutral” rating and issued a $29.00 price objective on shares of Trustmark in a research note on Tuesday, March 26th. Keefe, Bruyette & Woods upgraded shares of Trustmark from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $30.00 to $36.00 in a research note on Thursday. Finally, StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Four equities research 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 an average rating of “Hold” and a consensus price target of $32.25.

Trustmark Stock Performance

Shares of NASDAQ TRMK traded up $0.46 during midday trading on Thursday, reaching $29.82. The company had a trading volume of 648,157 shares, compared to its average volume of 282,653. The business’s 50-day simple moving average is $26.79 and its 200 day simple moving average is $25.46. The stock has a market cap of $1.82 billion, a P/E ratio of 11.60 and a beta of 0.82. Trustmark has a 1 year low of $18.96 and a 1 year high of $30.09. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.08. The business had revenue of $288.55 million during the quarter, compared to analysts’ expectations of $187.03 million. Trustmark had a net margin of 13.82% and a return on equity of 10.16%. During the same quarter last year, the company posted $0.82 earnings per share. On average, analysts forecast that Trustmark will post 2.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Trustmark

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Trustmark by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 6,712,905 shares of the financial services provider’s stock valued at $187,156,000 after purchasing an additional 50,795 shares in the last quarter. Wellington Management Group LLP purchased a new position in Trustmark during the fourth quarter valued at $12,572,000. Verition Fund Management LLC purchased a new position in Trustmark during the fourth quarter valued at $5,611,000. Rafferty Asset Management LLC lifted its holdings in Trustmark by 79.2% during the fourth quarter. Rafferty Asset Management LLC now owns 68,202 shares of the financial services provider’s stock valued at $1,901,000 after purchasing an additional 30,134 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC lifted its holdings in Trustmark by 14.9% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 13,989 shares of the financial services provider’s stock valued at $390,000 after purchasing an additional 1,812 shares in the last quarter. 67.64% of the stock is owned by hedge funds and other institutional investors.

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.