Trustmark (NASDAQ:TRMK) Upgraded to Hold at StockNews.com

Trustmark (NASDAQ:TRMK) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Friday.

Other research analysts have also issued reports about the company. Keefe, Bruyette & Woods increased their target price on Trustmark from $27.00 to $30.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. TheStreet raised Trustmark from a “c+” rating to a “b” rating in a research note on Tuesday, January 23rd. Piper Sandler reaffirmed a “neutral” rating and set a $29.00 price target on shares of Trustmark in a research report on Tuesday, March 26th. Truist Financial upped their target price on Trustmark from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, April 1st. Finally, DA Davidson reissued a “neutral” rating on shares of Trustmark in a research report on Monday, January 15th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $29.67.

Trustmark Stock Up 1.1 %

TRMK opened at $25.73 on Friday. Trustmark has a 12 month low of $18.96 and a 12 month high of $28.65. The business has a 50-day moving average of $26.74 and a two-hundred day moving average of $25.27. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.85 and a quick ratio of 0.84. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 9.49 and a beta of 0.82.

Trustmark (NASDAQ:TRMK) last released its earnings results on Wednesday, January 24th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $189.85 million during the quarter, compared to the consensus estimate of $187.63 million. Trustmark had a net margin of 15.06% and a return on equity of 10.77%. Trustmark’s revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 earnings per share. On average, research analysts expect that Trustmark will post 2.44 earnings per share for the current year.

Institutional Investors Weigh In On Trustmark

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its stake in Trustmark by 4.6% in the first quarter. BlackRock Inc. now owns 9,023,467 shares of the financial services provider’s stock worth $222,880,000 after purchasing an additional 395,082 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Trustmark by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 6,712,905 shares of the financial services provider’s stock valued at $187,156,000 after acquiring an additional 50,795 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Trustmark by 1.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,011,666 shares of the financial services provider’s stock valued at $99,088,000 after acquiring an additional 65,490 shares in the last quarter. State Street Corp lifted its stake in Trustmark by 17.7% during the first quarter. State Street Corp now owns 3,062,238 shares of the financial services provider’s stock worth $75,637,000 after purchasing an additional 461,549 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Trustmark by 3.3% in the second quarter. Geode Capital Management LLC now owns 1,252,404 shares of the financial services provider’s stock worth $26,451,000 after purchasing an additional 39,823 shares during the period. Institutional investors and hedge funds own 67.64% of the company’s stock.

About Trustmark

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.