Trustmark (NASDAQ:TRMK) Given New $37.00 Price Target at Hovde Group

Trustmark (NASDAQ:TRMK - Get Free Report) had its price target boosted by investment analysts at Hovde Group from $36.00 to $37.00 in a report issued on Monday, Marketbeat reports. The brokerage presently has a "market perform" rating on the financial services provider's stock. Hovde Group's price target indicates a potential upside of 5.99% from the stock's previous close.

TRMK has been the subject of a number of other reports. Janney Montgomery Scott assumed coverage on Trustmark in a report on Friday, January 24th. They set a "buy" rating and a $42.00 price target for the company. Keefe, Bruyette & Woods lowered their target price on Trustmark from $45.00 to $43.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Finally, DA Davidson upped their price target on shares of Trustmark from $40.00 to $41.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Trustmark has an average rating of "Hold" and an average price target of $39.80.

Trustmark Price Performance

Shares of TRMK stock traded up $0.83 during trading hours on Monday, hitting $34.91. The company had a trading volume of 220,247 shares, compared to its average volume of 298,923. The firm's fifty day moving average is $33.69 and its 200 day moving average is $35.64. 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 $2.12 billion, a price-to-earnings ratio of 9.59 and a beta of 0.67. Trustmark has a 12 month low of $27.42 and a 12 month high of $40.73.

Trustmark (NASDAQ:TRMK - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The financial services provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.82 by $0.06. The company had revenue of $231.83 million for the quarter, compared to the consensus estimate of $195.38 million. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. On average, sell-side analysts predict that Trustmark will post 3.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Trustmark by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 6,686,247 shares of the financial services provider's stock valued at $236,493,000 after buying an additional 30,057 shares in the last quarter. Wellington Management Group LLP increased its stake in Trustmark by 82.2% during the 4th quarter. Wellington Management Group LLP now owns 2,472,561 shares of the financial services provider's stock worth $87,454,000 after purchasing an additional 1,115,708 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Trustmark by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 894,807 shares of the financial services provider's stock worth $31,649,000 after buying an additional 6,683 shares during the period. Northern Trust Corp lifted its stake in Trustmark by 5.0% in the fourth quarter. Northern Trust Corp now owns 808,844 shares of the financial services provider's stock valued at $28,609,000 after buying an additional 38,594 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Trustmark by 6.8% in the third quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider's stock valued at $19,059,000 after buying an additional 37,989 shares during the period. 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.