DA Davidson Raises Trustmark (NASDAQ:TRMK) Price Target to $38.00

Trustmark (NASDAQ:TRMK) had its target price upped by equities research analysts at DA Davidson from $35.00 to $38.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s price target would indicate a potential upside of 11.50% from the stock’s previous close. DA Davidson also issued estimates for Trustmark’s Q4 2024 earnings at $0.80 EPS and FY2024 earnings at $2.92 EPS.

A number of other research analysts also recently issued reports on the stock. StockNews.com downgraded shares of Trustmark from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Truist Financial decreased their price target on shares of Trustmark from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Trustmark presently has a consensus rating of “Hold” and an average price target of $34.75.

Trustmark Trading Down 1.1 %

NASDAQ TRMK opened at $34.08 on Thursday. The firm has a 50 day simple moving average of $32.65 and a 200-day simple moving average of $30.95. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 0.87. Trustmark has a one year low of $19.08 and a one year high of $35.75. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 13.26 and a beta of 0.73.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.82 by $0.02. Trustmark had a net margin of 16.24% and a return on equity of 9.32%. The business had revenue of $192.30 million during the quarter, compared to analyst estimates of $192.77 million. During the same quarter last year, the firm posted $0.64 earnings per share. Equities research analysts anticipate that Trustmark will post 2.92 EPS for the current fiscal year.

Institutional Trading of Trustmark

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its position in shares of Trustmark by 62.1% during the 2nd quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock worth $28,000 after buying an additional 351 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Trustmark during the 1st quarter worth approximately $52,000. Innealta Capital LLC purchased a new stake in shares of Trustmark during the 2nd quarter worth approximately $61,000. nVerses Capital LLC purchased a new stake in shares of Trustmark during the 3rd quarter worth approximately $67,000. Finally, CWM LLC lifted its position in shares of Trustmark by 14.6% during the 2nd quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock worth $144,000 after buying an additional 611 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.