Trustmark (NASDAQ:TRMK) Now Covered by Analysts at Janney Montgomery Scott

Equities research analysts at Janney Montgomery Scott began coverage on shares of Trustmark (NASDAQ:TRMK) in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $42.00 price target on the financial services provider’s stock. Janney Montgomery Scott’s target price indicates a potential upside of 19.93% from the company’s previous close.

Other analysts have also recently issued reports about the company. Truist Financial upped their target price on Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a research report on Friday, October 25th. DA Davidson lifted their target price on shares of Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Hovde Group raised their price target on Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $36.33.

Trustmark Trading Down 0.4 %

TRMK opened at $35.02 on Friday. The company has a market cap of $2.14 billion, a P/E ratio of 10.58 and a beta of 0.76. Trustmark has a one year low of $25.24 and a one year high of $40.73. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. The business’s 50-day simple moving average is $36.71 and its 200-day simple moving average is $34.38.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.82 by $0.02. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. The firm had revenue of $192.30 million for the quarter, compared to analyst estimates of $192.77 million. During the same period last year, the business earned $0.64 EPS. As a group, equities research analysts expect that Trustmark will post 2.96 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Marcelo L. Eduardo sold 790 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $35.89, for a total value of $28,353.10. Following the completion of the transaction, the director now directly owns 7,334 shares of the company’s stock, valued at $263,217.26. This trade represents a 9.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gerard R. Host sold 26,416 shares of Trustmark stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $39.73, for a total value of $1,049,507.68. Following the transaction, the director now directly owns 26,792 shares of the company’s stock, valued at approximately $1,064,446.16. This represents a 49.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,206 shares of company stock worth $1,347,991. 1.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Harbor Capital Advisors Inc. grew its stake in Trustmark by 2.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 17,356 shares of the financial services provider’s stock valued at $552,000 after acquiring an additional 415 shares during the last quarter. HB Wealth Management LLC grew its position in shares of Trustmark by 0.7% in the fourth quarter. HB Wealth Management LLC now owns 74,634 shares of the financial services provider’s stock valued at $2,640,000 after purchasing an additional 528 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Trustmark by 19.0% during the 4th quarter. Blue Trust Inc. now owns 5,896 shares of the financial services provider’s stock worth $209,000 after purchasing an additional 943 shares in the last quarter. KBC Group NV raised its position in shares of Trustmark by 43.0% during the 4th quarter. KBC Group NV now owns 3,163 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 951 shares during the last quarter. Finally, Legacy Wealth Management LLC MS raised its position in shares of Trustmark by 10.3% during the 3rd quarter. Legacy Wealth Management LLC MS now owns 10,700 shares of the financial services provider’s stock worth $340,000 after purchasing an additional 1,000 shares during the last quarter. 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.