Brean Capital Initiates Coverage on Trustmark (NASDAQ:TRMK)

Brean Capital initiated coverage on shares of Trustmark (NASDAQ:TRMK) in a research note issued on Thursday. The brokerage set a “buy” rating on the financial services provider’s stock.

Several other brokerages have also commented on TRMK. Weiss Ratings reiterated a “buy (b-)” rating on shares of Trustmark in a research report on Wednesday, January 21st. Wall Street Zen cut Trustmark from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. DA Davidson boosted their target price on shares of Trustmark from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. Finally, Hovde Group increased their target price on shares of Trustmark from $42.00 to $44.50 and gave the stock a “market perform” rating in a report on Thursday, January 29th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Trustmark has an average rating of “Moderate Buy” and a consensus price target of $43.83.

Trustmark Stock Performance

Shares of TRMK opened at $40.85 on Thursday. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 11.01 and a beta of 0.68. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average is $42.42 and its two-hundred day moving average is $40.39. Trustmark has a 52-week low of $29.77 and a 52-week high of $45.43.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. Trustmark had a net margin of 19.95% and a return on equity of 10.77%. 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 previous year, the firm earned $0.92 earnings per share. Analysts forecast that Trustmark will post 3.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Trustmark

A number of institutional investors and hedge funds have recently bought and sold shares of TRMK. IFP Advisors Inc increased its stake in 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 buying an additional 267 shares during the period. Wedge Capital Management L L P NC boosted its stake in shares of Trustmark by 0.9% during the 4th quarter. Wedge Capital Management L L P NC now owns 29,552 shares of the financial services provider’s stock valued at $1,151,000 after buying an additional 269 shares during the period. Bessemer Group Inc. grew its holdings in shares of Trustmark by 37.4% during 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. California State Teachers Retirement System increased its stake in shares of Trustmark by 0.6% in the second quarter. California State Teachers Retirement System now owns 53,630 shares of the financial services provider’s stock worth $1,955,000 after acquiring an additional 313 shares during the last quarter. Finally, Richardson Financial Services Inc. raised its holdings in shares of Trustmark by 86.7% during the third quarter. Richardson Financial Services Inc. now owns 743 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 345 shares in the last quarter. 67.64% of the stock is owned by institutional investors and hedge funds.

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.