Trustmark (NASDAQ:TRMK) Rating Increased to Outperform at Keefe, Bruyette & Woods

Trustmark (NASDAQ:TRMK) was upgraded by analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a note issued to investors on Thursday, Marketbeat reports. The brokerage presently has a $36.00 target price on the financial services provider’s stock, up from their prior target price of $30.00. Keefe, Bruyette & Woods’ price target points to a potential upside of 19.80% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Truist Financial upped their price objective on shares of Trustmark from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, April 1st. StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a report on Friday, April 19th. DA Davidson reaffirmed a “neutral” rating on shares of Trustmark in a research report on Monday, January 15th. Piper Sandler reissued a “neutral” rating and issued a $29.00 target price on shares of Trustmark in a research report on Tuesday, March 26th. Finally, TheStreet upgraded Trustmark from a “c+” rating to a “b” rating in a research report on Tuesday, January 23rd. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Trustmark presently has a consensus rating of “Hold” and an average price target of $32.75.

Trustmark Stock Up 0.8 %

NASDAQ TRMK opened at $30.05 on Thursday. Trustmark has a 1 year low of $18.96 and a 1 year high of $30.21. The stock has a market capitalization of $1.84 billion, a PE ratio of 11.69 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.84. The business’s 50-day moving average is $26.83 and its 200 day moving average is $25.49.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.08. Trustmark had a return on equity of 10.04% and a net margin of 13.82%. The firm had revenue of $288.55 million for the quarter, compared to analyst estimates of $187.03 million. During the same period last year, the company earned $0.82 EPS. Sell-side analysts forecast that Trustmark will post 2.44 earnings per share for the current year.

Institutional Trading of Trustmark

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake 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 buying an additional 50,795 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Trustmark in the 4th quarter worth about $12,572,000. Verition Fund Management LLC purchased a new position in shares of Trustmark in the 4th quarter worth about $5,611,000. Rafferty Asset Management LLC boosted its stake in Trustmark by 79.2% in the 4th quarter. Rafferty Asset Management LLC now owns 68,202 shares of the financial services provider’s stock worth $1,901,000 after purchasing an additional 30,134 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC grew its position in Trustmark by 14.9% during the 4th 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 during the last quarter. Hedge funds and other institutional investors own 67.64% of the company’s stock.

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.