Trustmark (NASDAQ:TRMK) Stock Rating Upgraded by StockNews.com

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

A number of other equities research analysts also recently issued reports on TRMK. DA Davidson increased their price objective on shares of Trustmark from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday. Keefe, Bruyette & Woods upgraded shares of Trustmark from a “market perform” rating to an “outperform” rating and raised their price target for the company from $30.00 to $36.00 in a research note on Thursday. TheStreet upgraded shares of Trustmark from a “c+” rating to a “b” rating in a research note on Tuesday, January 23rd. Truist Financial raised their price target on shares of Trustmark from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Friday. Finally, Piper Sandler restated a “neutral” rating and issued a $29.00 price target on shares of Trustmark in a research note on Tuesday, March 26th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Trustmark currently has a consensus rating of “Hold” and a consensus price target of $32.75.

Trustmark Stock Performance

NASDAQ TRMK opened at $30.05 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11. The firm’s fifty day moving average price is $26.83 and its two-hundred day moving average price is $25.49. Trustmark has a 1 year low of $18.96 and a 1 year high of $30.21. The firm has a market capitalization of $1.84 billion, a P/E ratio of 11.69 and a beta of 0.82.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.08. The firm had revenue of $288.55 million for the quarter, compared to the consensus estimate of $187.03 million. Trustmark had a net margin of 13.82% and a return on equity of 10.04%. During the same period in the prior year, the company posted $0.82 earnings per share. As a group, research analysts anticipate that Trustmark will post 2.44 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in 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 buying an additional 50,795 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Trustmark by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,830,150 shares of the financial services provider’s stock worth $106,786,000 after purchasing an additional 59,068 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Trustmark by 6.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 883,423 shares of the financial services provider’s stock worth $24,630,000 after purchasing an additional 52,320 shares during the last quarter. Wellington Management Group LLP bought a new position in Trustmark during the 4th quarter worth approximately $12,572,000. Finally, Norges Bank bought a new position in Trustmark during the 4th quarter worth approximately $10,992,000. Institutional investors 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.