Trustmark (NASDAQ:TRMK) Lifted to “Hold” at StockNews.com

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

A number of other equities research analysts have also weighed in on the stock. Truist Financial dropped their price objective on shares of Trustmark from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Friday, September 20th. DA Davidson boosted their price objective on shares of Trustmark from $34.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Trustmark presently has a consensus rating of “Hold” and a consensus price target of $34.50.

Trustmark Price Performance

NASDAQ TRMK opened at $31.82 on Tuesday. The firm’s fifty day simple moving average is $32.46 and its two-hundred day simple moving average is $30.13. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. Trustmark has a 12-month low of $18.96 and a 12-month high of $35.72. The firm has a market capitalization of $1.95 billion, a P/E ratio of 12.38 and a beta of 0.74.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.03. The business had revenue of $283.96 million for the quarter, compared to analyst estimates of $229.83 million. Trustmark had a net margin of 16.24% and a return on equity of 9.32%. During the same period in the previous year, the company earned $0.74 earnings per share. Analysts forecast that Trustmark will post 2.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Trustmark

Several hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC purchased a new stake in Trustmark in the second quarter valued at $441,000. Magnolia Capital Advisors LLC acquired a new position in shares of Trustmark in the second quarter worth about $1,081,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Trustmark in the second quarter worth about $388,000. Earnest Partners LLC raised its position in shares of Trustmark by 3.1% in the second quarter. Earnest Partners LLC now owns 3,442,019 shares of the financial services provider’s stock worth $103,398,000 after acquiring an additional 102,268 shares during the period. Finally, Elizabeth Park Capital Advisors Ltd. acquired a new position in shares of Trustmark in the second quarter worth about $1,866,000. 67.64% of the stock is owned by hedge funds and other institutional investors.

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.