Trustmark (NASDAQ:TRMK) Given New $41.00 Price Target at Hovde Group

Trustmark (NASDAQ:TRMK - Get Free Report) had its price objective boosted by equities research analysts at Hovde Group from $37.00 to $41.00 in a report issued on Thursday, MarketBeat Ratings reports. The firm currently has a "market perform" rating on the financial services provider's stock. Hovde Group's target price would suggest a potential upside of 6.03% from the stock's current price.

Several other analysts also recently issued reports on TRMK. Wall Street Zen downgraded shares of Trustmark from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Keefe, Bruyette & Woods decreased their target price on shares of Trustmark from $45.00 to $43.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Trustmark currently has an average rating of "Hold" and an average price target of $41.00.

Trustmark Stock Up 0.2%

TRMK traded up $0.08 on Thursday, reaching $38.67. The company's stock had a trading volume of 272,197 shares, compared to its average volume of 356,430. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of 10.86 and a beta of 0.66. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. Trustmark has a fifty-two week low of $29.77 and a fifty-two week high of $40.73. The stock has a 50 day moving average of $36.19 and a two-hundred day moving average of $35.35.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.06. Trustmark had a net margin of 19.21% and a return on equity of 10.81%. The business had revenue of $203.44 million for the quarter, compared to analysts' expectations of $200.35 million. During the same period in the prior year, the company posted $0.66 EPS. As a group, analysts forecast that Trustmark will post 3.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. LPL Financial LLC increased its position in Trustmark by 0.6% during the first quarter. LPL Financial LLC now owns 64,802 shares of the financial services provider's stock worth $2,235,000 after acquiring an additional 415 shares during the period. GAMMA Investing LLC raised its holdings in Trustmark by 23.2% during the second quarter. GAMMA Investing LLC now owns 2,228 shares of the financial services provider's stock worth $81,000 after buying an additional 419 shares during the last quarter. CWM LLC boosted its position in shares of Trustmark by 9.7% during the first quarter. CWM LLC now owns 5,655 shares of the financial services provider's stock valued at $195,000 after buying an additional 502 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its position in shares of Trustmark by 7.6% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 11,930 shares of the financial services provider's stock valued at $422,000 after purchasing an additional 847 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Trustmark by 10.0% in the first quarter. Russell Investments Group Ltd. now owns 9,450 shares of the financial services provider's stock valued at $326,000 after acquiring an additional 858 shares in the last quarter. 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.