Trustmark (NASDAQ:TRMK) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Trustmark (NASDAQ:TRMK) from a hold rating to a sell rating in a research note released on Saturday morning.

A number of other equities research analysts also recently issued reports on TRMK. DA Davidson boosted their price target on shares of Trustmark from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $45.00 price objective on shares of Trustmark in a research report on Thursday, April 9th. Weiss Ratings upgraded shares of Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, June 1st. Finally, Piper Sandler boosted their target price on Trustmark from $45.50 to $47.00 and gave the company a “neutral” rating in a research report on Thursday. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $46.12.

Trustmark Stock Down 0.2%

Shares of NASDAQ:TRMK opened at $47.45 on Friday. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 12.04 and a beta of 0.65. Trustmark has a 12-month low of $36.05 and a 12-month high of $48.00. The business has a 50-day moving average price of $45.65 and a 200 day moving average price of $44.02. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11.

Trustmark (NASDAQ:TRMK) last posted its earnings results on Tuesday, July 28th. The financial services provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The company had revenue of $213.38 million for the quarter, compared to analysts’ expectations of $210.30 million. Trustmark had a net margin of 20.75% and a return on equity of 10.69%. Trustmark’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.92 earnings per share. Sell-side analysts expect that Trustmark will post 3.93 EPS for the current year.

Trustmark Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, September 1st. Trustmark’s payout ratio is presently 25.38%.

Institutional Investors Weigh In On Trustmark

Hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. acquired a new position in shares of Trustmark during the fourth quarter worth about $31,000. Rockefeller Capital Management L.P. raised its holdings in Trustmark by 1,129.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 848 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 779 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Trustmark in the fourth quarter valued at approximately $36,000. EverSource Wealth Advisors LLC lifted its stake in Trustmark by 452.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 1,022 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in Trustmark in the fourth quarter worth approximately $55,000. Institutional investors and hedge funds own 67.64% of the company’s stock.

About Trustmark

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.