Trustmark (NASDAQ:TRMK) Raised to “Hold” at Wall Street Zen

Trustmark (NASDAQ:TRMK) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Other equities research analysts have also recently issued reports about the stock. DA Davidson boosted their price target on shares of Trustmark from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Hovde Group raised their price objective on shares of Trustmark from $42.00 to $44.50 and gave the company a “market perform” rating in a research report on Thursday, January 29th. Brean Capital started coverage on shares of Trustmark in a report on Thursday. They issued a “buy” rating on the stock. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Trustmark in a research note on Wednesday, January 21st. Three equities research 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 a consensus rating of “Moderate Buy” and a consensus price target of $43.83.

Trustmark Stock Down 0.8%

Shares of TRMK stock opened at $40.85 on Friday. Trustmark has a 1 year low of $29.77 and a 1 year high of $45.43. The stock has a market cap of $2.40 billion, a PE ratio of 11.01 and a beta of 0.68. The business’s fifty day moving average is $42.42 and its 200-day moving average is $40.39. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.89.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.06. Trustmark had a return on equity of 10.77% and a net margin of 19.95%.The business had revenue of $209.44 million during the quarter, compared to analyst estimates of $207.05 million. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Equities analysts expect that Trustmark will post 3.42 earnings per share for the current fiscal year.

Institutional Trading of Trustmark

Several institutional investors and hedge funds have recently bought and sold shares of TRMK. Richardson Financial Services Inc. boosted its holdings 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 buying an additional 345 shares during the period. Blue Trust Inc. purchased a new position in shares of Trustmark in the fourth quarter worth approximately $31,000. Meeder Asset Management Inc. acquired a new stake in shares of Trustmark during the fourth quarter valued at approximately $36,000. Bessemer Group Inc. lifted its position in shares of Trustmark by 37.4% in the 3rd quarter. Bessemer Group Inc. now owns 1,073 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 292 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Trustmark by 452.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 1,022 shares in the last quarter. Institutional investors and hedge funds 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.