Trustmark (NASDAQ:TRMK) Given New $32.00 Price Target at Truist Financial

Trustmark (NASDAQ:TRMK) had its price objective lifted by investment analysts at Truist Financial from $30.00 to $32.00 in a report released on Friday, Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price target points to a potential upside of 6.14% from the stock’s current price.

TRMK has been the topic of several other research reports. DA Davidson upped their target price on shares of Trustmark from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday. Keefe, Bruyette & Woods upgraded shares of Trustmark from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $30.00 to $36.00 in a research note on Thursday. StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Piper Sandler restated a “neutral” rating and set a $29.00 price objective on shares of Trustmark in a research report on Tuesday, March 26th. Finally, TheStreet upgraded shares of Trustmark from a “c+” rating to a “b” rating in a research report on Tuesday, January 23rd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Trustmark has a consensus rating of “Hold” and a consensus price target of $32.75.

Trustmark Stock Up 1.1 %

TRMK traded up $0.33 during midday trading on Friday, reaching $30.15. The company’s stock had a trading volume of 119,218 shares, compared to its average volume of 281,930. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 11.70 and a beta of 0.82. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11. Trustmark has a 1 year low of $18.96 and a 1 year high of $30.18. The stock’s 50-day moving average is $26.83 and its 200-day moving average is $25.49.

Trustmark (NASDAQ:TRMK) last announced 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. The business had revenue of $288.55 million for the quarter, compared to analysts’ expectations of $187.03 million. Trustmark had a net margin of 13.82% and a return on equity of 10.04%. During the same quarter in the prior year, the company earned $0.82 earnings per share. As a group, research analysts expect that Trustmark will post 2.44 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Trustmark by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 6,712,905 shares of the financial services provider’s stock worth $187,156,000 after acquiring an additional 50,795 shares during the period. Dimensional Fund Advisors LP raised its position in Trustmark by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,830,150 shares of the financial services provider’s stock worth $106,786,000 after acquiring an additional 59,068 shares during the period. Charles Schwab Investment Management Inc. raised its position in Trustmark by 6.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 883,423 shares of the financial services provider’s stock worth $24,630,000 after acquiring an additional 52,320 shares during the period. Wellington Management Group LLP purchased a new stake in shares of Trustmark in the fourth quarter worth $12,572,000. Finally, Norges Bank purchased a new stake in shares of Trustmark in the fourth quarter worth $10,992,000. 67.64% of the stock is currently owned by institutional investors.

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.