Trustmark (NASDAQ:TRMK) Raised to “Hold” at Wall Street Zen

Trustmark (NASDAQ:TRMK) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Other equities research analysts also recently issued research reports about the stock. Zacks Research downgraded shares of Trustmark from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Trustmark in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Trustmark presently has an average rating of “Moderate Buy” and an average target price of $42.25.

Trustmark Stock Performance

Shares of NASDAQ TRMK opened at $39.09 on Friday. Trustmark has a 12-month low of $29.77 and a 12-month high of $41.42. The company has a market cap of $2.34 billion, a PE ratio of 10.68 and a beta of 0.69. The stock has a 50 day simple moving average of $39.05 and a 200-day simple moving average of $38.77. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09.

Trustmark (NASDAQ:TRMK) last announced its earnings results on Tuesday, October 28th. The financial services provider reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). Trustmark had a net margin of 19.82% and a return on equity of 10.90%. The business had revenue of $207.53 million for the quarter, compared to the consensus estimate of $206.13 million. During the same period in the previous year, the firm earned $0.84 EPS. The firm’s revenue was up 5.3% on a year-over-year basis. On average, equities research analysts forecast that Trustmark will post 3.42 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its holdings in shares of Trustmark by 10.9% in the third quarter. JPMorgan Chase & Co. now owns 187,584 shares of the financial services provider’s stock valued at $7,428,000 after buying an additional 18,400 shares in the last quarter. Tudor Investment Corp ET AL grew its holdings in shares of Trustmark by 11.6% in the 3rd quarter. Tudor Investment Corp ET AL now owns 206,748 shares of the financial services provider’s stock worth $8,187,000 after acquiring an additional 21,472 shares during the last quarter. IFP Advisors Inc raised its position in shares of Trustmark by 24.1% during the third quarter. IFP Advisors Inc now owns 1,375 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 267 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in shares of Trustmark during the third quarter worth $240,000. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of Trustmark by 2.7% during the third quarter. CANADA LIFE ASSURANCE Co now owns 50,892 shares of the financial services provider’s stock valued at $2,023,000 after purchasing an additional 1,360 shares during the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Company Profile

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.