Trustmark (NASDAQ:TRMK) Price Target Cut to $35.00

Trustmark (NASDAQ:TRMK) had its price target reduced by investment analysts at Truist Financial from $37.00 to $35.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price objective suggests a potential upside of 6.03% from the company’s current price.

Separately, DA Davidson raised their price target on Trustmark from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $34.50.

Trustmark Stock Performance

Shares of TRMK stock traded down $0.59 on Friday, hitting $33.01. 155,568 shares of the stock were exchanged, compared to its average volume of 276,044. Trustmark has a one year low of $18.96 and a one year high of $35.72. The firm’s 50 day moving average is $32.60 and its two-hundred day moving average is $29.86. The firm has a market capitalization of $2.02 billion, a PE ratio of 12.84 and a beta of 0.74. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10.

Trustmark (NASDAQ:TRMK) last posted its earnings results on Tuesday, July 23rd. The financial services provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.03. The firm had revenue of $283.96 million during the quarter, compared to the consensus estimate of $229.83 million. Trustmark had a net margin of 16.24% and a return on equity of 9.32%. During the same quarter last year, the company earned $0.74 earnings per share. Sell-side analysts expect that Trustmark will post 2.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trustmark

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in Trustmark by 62.1% in the 2nd quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 351 shares during the last quarter. EntryPoint Capital LLC bought a new stake in Trustmark during the first quarter valued at approximately $52,000. Innealta Capital LLC purchased a new position in Trustmark in the 2nd quarter worth approximately $61,000. CWM LLC raised 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 valued at $144,000 after buying an additional 611 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. bought a new stake in shares of Trustmark during the 2nd quarter worth $238,000. Hedge funds and other institutional investors 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.