Trustmark (TRMK) Downgraded to “Sell” at Zacks Investment Research

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Zacks Investment Research cut shares of Trustmark (NASDAQ:TRMK) from a hold rating to a sell rating in a report issued on Friday.

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. “

TRMK has been the topic of several other reports. BidaskClub upgraded shares of Trustmark from a hold rating to a buy rating in a research report on Friday, February 22nd. Raymond James cut shares of Trustmark from a market perform rating to an underperform rating in a research report on Monday, January 7th. Stephens set a $32.00 price objective on shares of Trustmark and gave the stock a hold rating in a research report on Friday, January 25th. Finally, Keefe, Bruyette & Woods cut shares of Trustmark from a market perform rating to an underperform rating and set a $34.00 price objective on the stock. in a research report on Tuesday, March 19th. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $34.17.

Trustmark stock opened at $32.23 on Friday. Trustmark has a 1 year low of $26.84 and a 1 year high of $36.32. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 14.58 and a beta of 1.08.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Wednesday, January 23rd. The financial services provider reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.01. Trustmark had a net margin of 21.89% and a return on equity of 9.43%. The firm had revenue of $151.97 million for the quarter, compared to analysts’ expectations of $152.00 million. During the same period in the previous year, the company posted $0.48 EPS. Sell-side analysts predict that Trustmark will post 2.22 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend was Thursday, February 28th. Trustmark’s dividend payout ratio is currently 41.63%.

In other news, insider Charles Scott Woods sold 2,500 shares of the business’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $31.50, for a total transaction of $78,750.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Harry M. Walker sold 1,880 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $35.57, for a total transaction of $66,871.60. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio lifted its stake in shares of Trustmark by 200.0% in the 4th quarter. Strs Ohio now owns 900 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 600 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of Trustmark by 160.7% in the 4th quarter. Captrust Financial Advisors now owns 863 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 532 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Trustmark by 2,743.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 753,594 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 727,087 shares during the last quarter. Toronto Dominion Bank acquired a new stake in shares of Trustmark in the 4th quarter valued at $28,000. Finally, Bremer Trust National Association acquired a new stake in shares of Trustmark in the 4th quarter valued at $28,000. 67.96% of the stock is owned by institutional investors and hedge funds.

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 offers checking, savings, and money market accounts; individual retirement accounts; certificates of deposits; 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.

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