Janney Montgomery Scott initiated coverage on shares of Trustmark (NASDAQ:TRMK – Free Report) in a research note published on Friday morning, MarketBeat.com reports. The firm issued a buy rating and a $42.00 target price on the financial services provider’s stock.
TRMK has been the topic of a number of other research reports. Hovde Group boosted their target price on Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Truist Financial raised their price objective on shares of Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Finally, DA Davidson boosted their target price on shares of Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $36.33.
Get Our Latest Stock Report on TRMK
Trustmark Trading Up 1.9 %
Insiders Place Their Bets
In other news, Director Marcelo L. Eduardo sold 790 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total value of $28,353.10. Following the completion of the sale, the director now directly owns 7,334 shares in the company, valued at approximately $263,217.26. The trade was a 9.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gerard R. Host sold 7,000 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $38.59, for a total transaction of $270,130.00. Following the sale, the director now directly owns 16,500 shares of the company’s stock, valued at approximately $636,735. This represents a 29.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,206 shares of company stock valued at $1,347,991 over the last 90 days. 1.50% of the stock is currently owned by company insiders.
Institutional Trading of Trustmark
Several hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its holdings in shares of Trustmark by 32.6% during the third quarter. Wellington Management Group LLP now owns 1,356,853 shares of the financial services provider’s stock worth $43,175,000 after buying an additional 333,390 shares during the last quarter. Verition Fund Management LLC raised its stake in Trustmark by 19.8% during the 3rd quarter. Verition Fund Management LLC now owns 778,312 shares of the financial services provider’s stock valued at $24,766,000 after purchasing an additional 128,834 shares during the last quarter. Barclays PLC grew its position in Trustmark by 124.7% during the third quarter. Barclays PLC now owns 125,743 shares of the financial services provider’s stock worth $4,001,000 after buying an additional 69,779 shares in the last quarter. Renaissance Technologies LLC bought a new position in Trustmark in the second quarter worth $1,372,000. Finally, Principal Financial Group Inc. boosted its position in shares of Trustmark by 6.8% during the 3rd quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider’s stock valued at $19,059,000 after acquiring an additional 37,989 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.
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