Trustmark (NASDAQ:TRMK) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of Trustmark (NASDAQ:TRMK) from a sell rating to a hold rating in a research note released on Saturday morning.

Several other research analysts have also weighed in on the stock. Keefe, Bruyette & Woods raised shares of Trustmark from a market perform rating to an outperform rating and raised their price objective for the stock from $30.00 to $36.00 in a report on Thursday. Piper Sandler reissued a neutral rating and set a $29.00 price objective on shares of Trustmark in a report on Tuesday, March 26th. Truist Financial lifted their price target on shares of Trustmark from $30.00 to $32.00 and gave the company a hold rating in a report on Friday. DA Davidson lifted their price target on shares of Trustmark from $30.00 to $34.00 and gave the company a neutral rating in a report on Thursday. Finally, TheStreet raised shares of Trustmark from a c+ rating to a b rating in a report on Tuesday, January 23rd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $32.75.

Trustmark Price Performance

TRMK opened at $30.05 on Friday. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 11.69 and a beta of 0.82. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11. Trustmark has a twelve month low of $18.96 and a twelve month high of $30.21. The company has a fifty day simple moving average of $26.89 and a 200 day simple moving average of $25.58.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.08. The company had revenue of $288.55 million during the quarter, compared to analyst estimates of $187.03 million. Trustmark had a net margin of 13.82% and a return on equity of 10.04%. During the same period last year, the business earned $0.82 EPS. Equities research analysts expect that Trustmark will post 2.53 EPS for the current fiscal year.

Trustmark Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Investors of record on Saturday, June 1st will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.92 annualized dividend and a yield of 3.06%. Trustmark’s dividend payout ratio is presently 35.80%.

Institutional Trading of Trustmark

Hedge funds have recently bought and sold shares of the company. Ignite Planners LLC lifted its position in Trustmark by 924.4% in the 4th quarter. Ignite Planners LLC now owns 142,537 shares of the financial services provider’s stock valued at $3,961,000 after purchasing an additional 128,623 shares during the last quarter. Trexquant Investment LP lifted its position in Trustmark by 235.7% in the 3rd quarter. Trexquant Investment LP now owns 87,162 shares of the financial services provider’s stock valued at $1,894,000 after purchasing an additional 61,194 shares during the last quarter. American Century Companies Inc. lifted its position in Trustmark by 28.8% in the 3rd quarter. American Century Companies Inc. now owns 372,172 shares of the financial services provider’s stock valued at $8,087,000 after purchasing an additional 83,181 shares during the last quarter. MQS Management LLC bought a new stake in Trustmark in the 3rd quarter valued at about $283,000. Finally, Envestnet Asset Management Inc. lifted its position in Trustmark by 244.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 176,036 shares of the financial services provider’s stock valued at $3,825,000 after purchasing an additional 124,890 shares during the last quarter. 67.64% of the stock is currently owned by institutional investors.

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.