DA Davidson Raises Trustmark (NASDAQ:TRMK) Price Target to $43.00

Trustmark (NASDAQ:TRMK - Get Free Report) had its price target lifted by equities research analysts at DA Davidson from $39.00 to $43.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. DA Davidson's target price would indicate a potential upside of 8.89% from the stock's current price.

TRMK has been the subject of several other research reports. Hovde Group increased their price objective on shares of Trustmark from $37.00 to $41.00 and gave the company a "market perform" rating in a research report on Thursday. Wall Street Zen downgraded shares of Trustmark from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Trustmark from $45.00 to $43.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $41.00.

Trustmark Stock Up 3.0%

NASDAQ TRMK traded up $1.15 during trading hours on Thursday, hitting $39.49. The company had a trading volume of 196,979 shares, compared to its average volume of 323,564. The firm's 50 day moving average is $36.09 and its 200 day moving average is $35.29. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. Trustmark has a fifty-two week low of $29.77 and a fifty-two week high of $40.73. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 11.09 and a beta of 0.66.

Trustmark (NASDAQ:TRMK - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.06. The company had revenue of $203.44 million during the quarter, compared to the consensus estimate of $200.35 million. Trustmark had a return on equity of 10.92% and a net margin of 19.21%. During the same quarter in the prior year, the business earned $0.66 earnings per share. Sell-side analysts anticipate that Trustmark will post 3.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trustmark

Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in Trustmark in the first quarter worth about $508,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Trustmark in the 4th quarter worth approximately $212,000. Raymond James Financial Inc. bought a new stake in shares of Trustmark in the 4th quarter valued at approximately $1,145,000. Deutsche Bank AG increased its holdings in shares of Trustmark by 54.5% in the 4th quarter. Deutsche Bank AG now owns 52,756 shares of the financial services provider's stock valued at $1,866,000 after acquiring an additional 18,603 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in shares of Trustmark by 165.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 3,289 shares of the financial services provider's stock valued at $116,000 after acquiring an additional 2,051 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company's stock.

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.

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