Trustmark Corp. (NASDAQ:TRMK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.
According to Zacks, “Trustmark Corporation is a multi-bank holding company. Its primary business activities are conducted through its wholly-owned subsidiary, Trustmark National Bank and Trustmark National Bank’s wholly-owned nonbanking subsidiaries, Trustmark Financial Services, Inc. and Trustmark Insurance Agency, Inc. Trustmark National Bank accounts for substantially all of the assets and revenues of the company. “
Several other equities research analysts have also recently weighed in on TRMK. Jefferies Group increased their price target on Trustmark Corp. from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Thursday, July 28th. SunTrust Banks Inc. increased their price target on Trustmark Corp. from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, June 9th. Finally, Keefe, Bruyette & Woods raised Trustmark Corp. from an “underperform” rating to a “market perform” rating and increased their price target for the company from $23.00 to $25.00 in a research note on Thursday, July 28th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $26.75.
Shares of Trustmark Corp. (NASDAQ:TRMK) opened at 27.56 on Thursday. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 17.78 and a beta of 1.13. The company has a 50-day moving average price of $27.74 and a 200-day moving average price of $25.24. Trustmark Corp. has a 12 month low of $19.75 and a 12 month high of $28.71.
Trustmark Corp. (NASDAQ:TRMK) last issued its earnings results on Tuesday, July 26th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Trustmark Corp. had a return on equity of 7.47% and a net margin of 17.44%. During the same period in the previous year, the firm posted $0.45 earnings per share. Analysts forecast that Trustmark Corp. will post $1.64 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.92 annualized dividend and a dividend yield of 3.34%. Trustmark Corp.’s payout ratio is 59.36%.
Several large investors have recently made changes to their positions in TRMK. Public Employees Retirement System of Ohio raised its stake in shares of Trustmark Corp. by 1.9% in the second quarter. Public Employees Retirement System of Ohio now owns 4,426 shares of the financial services provider’s stock valued at $110,000 after buying an additional 82 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Trustmark Corp. during the second quarter valued at approximately $203,000. Keel Point LLC acquired a new stake in shares of Trustmark Corp. during the second quarter valued at approximately $210,000. Connable Office Inc. acquired a new stake in shares of Trustmark Corp. during the second quarter valued at approximately $215,000. Finally, Amalgamated Bank acquired a new stake in shares of Trustmark Corp. during the second quarter valued at approximately $224,000. Institutional investors own 61.26% of the company’s stock.
Trustmark Corp. Company Profile
Trustmark Corporation (Trustmark) is a bank holding company. Trustmark’s principal subsidiary is Trustmark National Bank (TNB). Through TNB and other subsidiaries, Trustmark operates as a financial services organization providing banking and other financial solutions through approximately 205 offices in Alabama, Florida, Mississippi, Tennessee and Texas.
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