Trustmark (NASDAQ:TRMK) Stock Rating Upgraded by Keefe, Bruyette & Woods

Trustmark (NASDAQ:TRMK) was upgraded by research analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a report issued on Thursday, Briefing.com reports. The firm currently has a $36.00 price objective on the financial services provider’s stock, up from their previous price objective of $30.00. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 22.62% from the company’s previous close.

Several other research analysts have also recently issued reports on the stock. DA Davidson reaffirmed a “neutral” rating on shares of Trustmark in a report on Monday, January 15th. Truist Financial boosted their price objective on shares of Trustmark from $29.00 to $30.00 and gave the company a “hold” rating in a report on Monday, April 1st. TheStreet raised shares of Trustmark from a “c+” rating to a “b” rating in a report on Tuesday, January 23rd. StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Finally, Piper Sandler restated a “neutral” rating and set a $29.00 target price on shares of Trustmark in a research report on Tuesday, March 26th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Trustmark currently has an average rating of “Hold” and a consensus price target of $31.67.

Trustmark Stock Up 6.6 %

Shares of Trustmark stock opened at $29.36 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.85. The stock has a market capitalization of $1.80 billion, a PE ratio of 11.42 and a beta of 0.82. Trustmark has a 52-week low of $18.96 and a 52-week high of $29.84. The company has a 50-day simple moving average of $26.74 and a two-hundred day simple moving average of $25.43.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.08. The business had revenue of $288.55 million during the quarter, compared to analysts’ expectations of $187.03 million. Trustmark had a net margin of 13.82% and a return on equity of 10.16%. During the same period in the previous year, the company earned $0.82 earnings per share. On average, analysts anticipate that Trustmark will post 2.44 EPS for the current fiscal year.

Institutional Trading of Trustmark

Several large investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC grew its position in Trustmark by 4.8% during the third quarter. Commonwealth Equity Services LLC now owns 12,824 shares of the financial services provider’s stock valued at $279,000 after buying an additional 587 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Trustmark by 3.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,802 shares of the financial services provider’s stock valued at $775,000 after buying an additional 1,047 shares during the period. Headlands Technologies LLC bought a new stake in Trustmark during the third quarter valued at approximately $28,000. Swiss National Bank boosted its position in shares of Trustmark by 1.0% in the third quarter. Swiss National Bank now owns 127,500 shares of the financial services provider’s stock worth $2,771,000 after purchasing an additional 1,300 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Trustmark by 11.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,818 shares of the financial services provider’s stock worth $385,000 after purchasing an additional 1,449 shares during the period. 67.64% of the stock is currently owned by institutional investors.

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.