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

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

A number of other research analysts have also weighed in on TRMK. DA Davidson boosted their target price on Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday. Truist Financial boosted their target price on Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Hovde Group boosted 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 Trustmark in a research note on Friday, January 24th. They issued a “buy” rating and a $42.00 price target for the company. Finally, StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $38.67.

Trustmark Stock Down 1.1 %

Shares of NASDAQ:TRMK traded down $0.41 during trading on Monday, hitting $37.09. 67,152 shares of the company were exchanged, compared to its average volume of 311,133. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 10.20 and a beta of 0.76. Trustmark has a fifty-two week low of $25.24 and a fifty-two week high of $40.73. The firm has a fifty day moving average price of $36.47 and a two-hundred day moving average price of $34.65. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09.

Trustmark (NASDAQ:TRMK) last posted its quarterly 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 return on equity of 10.12% and a net margin of 19.42%. As a group, research analysts anticipate that Trustmark will post 3.4 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of Trustmark

A number of institutional investors have recently modified their holdings of the stock. New York State Common Retirement Fund lifted its position in shares of Trustmark by 8.3% during the 4th quarter. New York State Common Retirement Fund now owns 19,513 shares of the financial services provider’s stock valued at $690,000 after acquiring an additional 1,500 shares during the period. CIBC Asset Management Inc bought a new stake in shares of Trustmark during the 4th quarter worth $217,000. BankPlus Wealth Management LLC bought a new stake in shares of Trustmark during the 4th quarter worth $433,000. KBC Group NV lifted its position in shares of Trustmark by 43.0% during the 4th 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. Finally, Blue Trust Inc. lifted its position in shares of Trustmark by 19.0% during the 4th quarter. Blue Trust Inc. now owns 5,896 shares of the financial services provider’s stock worth $209,000 after buying an additional 943 shares during the last quarter. 67.64% of the stock is currently owned by 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.