Hovde Group Raises Trustmark (NASDAQ:TRMK) Price Target to $37.00

Trustmark (NASDAQ:TRMK) had its target price increased by analysts at Hovde Group from $34.00 to $37.00 in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Hovde Group’s price target would suggest a potential upside of 4.61% from the company’s previous close.

A number of other research firms have also weighed in on TRMK. StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Truist Financial boosted their target price on Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Finally, DA Davidson increased their price target on Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $35.20.

Trustmark Trading Up 0.8 %

TRMK opened at $35.37 on Tuesday. The firm has a market capitalization of $2.16 billion, a PE ratio of 13.90 and a beta of 0.73. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.87 and a quick ratio of 0.86. Trustmark has a fifty-two week low of $19.68 and a fifty-two week high of $36.14. The company’s 50-day moving average is $32.77 and its 200 day moving average is $31.13.

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

Institutional Trading of Trustmark

A number of institutional investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in Trustmark by 62.1% in the 2nd quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 351 shares during the period. EntryPoint Capital LLC bought a new stake in Trustmark during the first quarter valued at approximately $52,000. Innealta Capital LLC purchased a new position in Trustmark in the 2nd quarter worth approximately $61,000. nVerses Capital LLC bought a new position in shares of Trustmark in the 3rd quarter worth $67,000. Finally, CWM LLC raised its position in shares of Trustmark by 14.6% during the 2nd quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock valued at $144,000 after buying an additional 611 shares in the last quarter. 67.64% of the stock is currently owned by hedge funds and other 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.