Trustmark (NASDAQ:TRMK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Trustmark (NASDAQ:TRMK) from a sell rating to a hold rating in a report published on Sunday morning.

Several other analysts have also issued reports on TRMK. DA Davidson upped their target price on Trustmark from $46.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Piper Sandler lifted their price target on shares of Trustmark from $45.50 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings raised shares of Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, June 1st. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.12.

Trustmark Stock Performance

NASDAQ:TRMK opened at $47.85 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The business’s 50-day moving average price is $46.18 and its two-hundred day moving average price is $44.39. The stock has a market cap of $2.78 billion, a P/E ratio of 12.14 and a beta of 0.65. Trustmark has a twelve month low of $36.33 and a twelve month high of $49.00.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. Trustmark had a net margin of 20.75% and a return on equity of 10.69%. The company had revenue of $213.38 million during the quarter, compared to the consensus estimate of $210.30 million. During the same period in the previous year, the firm posted $0.92 EPS. The firm’s revenue was up 4.8% compared to the same quarter last year. As a group, equities analysts predict that Trustmark will post 3.93 EPS for the current fiscal year.

Trustmark Dividend Announcement

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

Institutional Investors Weigh In On Trustmark

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC purchased a new position in Trustmark during the 4th quarter valued at $898,000. UBS Group AG lifted its position in shares of Trustmark by 282.0% in the 4th quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock worth $24,944,000 after purchasing an additional 472,751 shares during the period. Horizon Investments LLC bought a new stake in shares of Trustmark during the 4th quarter valued at about $1,185,000. North Reef Capital Management LP purchased a new position in shares of Trustmark during the first quarter valued at about $82,296,000. Finally, Fifth Third Bancorp increased its position in shares of Trustmark by 8,376.7% during the first quarter. Fifth Third Bancorp now owns 21,785 shares of the financial services provider’s stock valued at $918,000 after buying an additional 21,528 shares during the period. Institutional investors 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.