Trustmark (NASDAQ:TRMK) Given New $47.00 Price Target at Keefe, Bruyette & Woods

Trustmark (NASDAQ:TRMK) had its price objective raised by investment analysts at Keefe, Bruyette & Woods from $45.00 to $47.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 26.73% from the company’s current price.

TRMK has been the topic of several other research reports. Hovde Group upped their target price on Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. DA Davidson upped their target price on Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday. Janney Montgomery Scott initiated coverage on Trustmark in a research report on Friday, January 24th. They set a “buy” rating and a $42.00 target price on the stock. Finally, Truist Financial upped their target price on Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $38.67.

Trustmark Trading Down 1.1 %

Shares of TRMK stock traded down $0.41 on Monday, hitting $37.09. The company had a trading volume of 67,152 shares, compared to its average volume of 311,133. The firm has a market cap of $2.27 billion, a P/E ratio of 10.20 and a beta of 0.76. The stock’s 50-day moving average is $36.47 and its two-hundred day moving average is $34.65. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. Trustmark has a twelve month low of $25.24 and a twelve month high of $40.73.

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

Insiders Place Their Bets

In other news, Director Gerard R. Host sold 26,416 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $39.73, for a total value of $1,049,507.68. Following the transaction, the director now owns 26,792 shares in the company, valued at $1,064,446.16. This trade represents a 49.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of Trustmark

Institutional investors and hedge funds have recently modified their holdings of the business. GoalVest Advisory LLC purchased a new stake in shares of Trustmark during the third quarter valued at approximately $63,000. nVerses Capital LLC purchased a new stake in Trustmark in the third quarter worth $67,000. KBC Group NV increased its position in 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 last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Trustmark in the third quarter worth $130,000. Finally, Blue Trust Inc. increased its position in Trustmark by 225.2% in the third quarter. Blue Trust Inc. now owns 4,953 shares of the financial services provider’s stock worth $149,000 after buying 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.