Trustmark price target raised to $38 from $34 at DA Davidson

DA Davidson analyst Gary Tenner raised the firm’s price target on Trustmark to $38 from $34 and keeps a Neutral rating on the shares after its Q2 earnings beat. The company completed the sale of FBBI in the quarter, along with its previously announced bond restructuring and a sale of nonperforming mortgage loans, and in addition to immediate revenue benefits, the bond transaction should help mitigate the company’s asset sensitive balance sheet, the analyst tells investors in a research note.