Trustmark (NASDAQ:TRMK) Cut to “Sell” at Wall Street Zen

Trustmark (NASDAQ:TRMK) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other brokerages have also issued reports on TRMK. Weiss Ratings reiterated a “buy (b-)” rating on shares of Trustmark in a research report on Wednesday, October 8th. Zacks Research lowered Trustmark from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Trustmark currently has an average rating of “Moderate Buy” and an average target price of $42.25.

Trustmark Trading Down 1.2%

Shares of TRMK opened at $39.23 on Friday. The stock has a market cap of $2.35 billion, a PE ratio of 10.72 and a beta of 0.71. The stock has a 50 day simple moving average of $38.51 and a 200-day simple moving average of $37.95. Trustmark has a 1 year low of $29.77 and a 1 year high of $41.33. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, October 28th. The financial services provider reported $0.94 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.01). The firm had revenue of $207.53 million during the quarter, compared to analyst estimates of $206.13 million. Trustmark had a net margin of 19.82% and a return on equity of 10.90%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 EPS. On average, sell-side analysts predict that Trustmark will post 3.42 EPS for the current fiscal year.

Institutional Trading of Trustmark

Hedge funds and other institutional investors have recently made changes to their positions in the business. Richardson Financial Services Inc. lifted its position in shares of Trustmark by 86.7% in the third quarter. Richardson Financial Services Inc. now owns 743 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 345 shares in the last quarter. Bessemer Group Inc. lifted its position in Trustmark by 37.4% during the 3rd quarter. Bessemer Group Inc. now owns 1,073 shares of the financial services provider’s stock worth $42,000 after buying an additional 292 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Trustmark by 452.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock worth $46,000 after buying an additional 1,022 shares in the last quarter. State of Wyoming acquired a new position in shares of Trustmark during the 1st quarter worth about $52,000. Finally, IFP Advisors Inc grew its holdings in shares of Trustmark by 24.1% in the 3rd quarter. IFP Advisors Inc now owns 1,375 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 267 shares in the last quarter. 67.64% of the stock is currently owned by institutional investors and hedge funds.

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.