Keefe, Bruyette & Woods Boosts Trustmark (NASDAQ:TRMK) Price Target to $47.00

Trustmark (NASDAQ:TRMK) had its price target lifted by Keefe, Bruyette & Woods from $45.00 to $47.00 in a report released on Monday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 24.37% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Truist Financial raised 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. Hovde Group lifted their target price on Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Janney Montgomery Scott began coverage on shares of Trustmark in a report on Friday, January 24th. They issued a “buy” rating and a $42.00 price target on the stock. StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, DA Davidson boosted their target price on shares of Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $38.67.

Trustmark Price Performance

Shares of TRMK stock opened at $37.79 on Monday. Trustmark has a fifty-two week low of $25.24 and a fifty-two week high of $40.73. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 10.38 and a beta of 0.76. The stock’s 50-day simple moving average is $36.37 and its 200-day simple moving average is $34.70.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.09. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. As a group, equities analysts forecast that Trustmark will post 3.4 earnings per share for the current fiscal year.

Insider Transactions at Trustmark

In related news, Director Gerard R. Host sold 7,000 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $38.59, for a total value of $270,130.00. Following the completion of the sale, the director now owns 16,500 shares of the company’s stock, valued at approximately $636,735. The trade was a 29.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Trustmark

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GoalVest Advisory LLC acquired a new stake in Trustmark in the 3rd quarter worth about $63,000. nVerses Capital LLC acquired a new stake in shares of Trustmark in the third quarter valued at about $67,000. KBC Group NV lifted its stake 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Trustmark during the 3rd quarter valued at about $130,000. Finally, Blue Trust Inc. raised its holdings in Trustmark by 225.2% in 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 last quarter. 67.64% of the stock is 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.