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

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

A number of other equities research analysts have also recently commented on the stock. DA Davidson raised their price target on shares of Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday. Truist Financial reduced their target price on Trustmark from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $34.75.

Trustmark Stock Down 1.1 %

Shares of Trustmark stock opened at $34.08 on Thursday. The stock’s 50-day moving average is $32.65 and its 200 day moving average is $30.95. Trustmark has a one year low of $19.08 and a one year high of $35.75. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 13.26 and a beta of 0.73. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.87 and a quick ratio of 0.86.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.02. The firm had revenue of $192.30 million for the quarter, compared to analysts’ expectations of $192.77 million. Trustmark had a return on equity of 9.32% and a net margin of 16.24%. During the same period in the prior year, the business earned $0.64 EPS. Equities research analysts anticipate that Trustmark will post 2.92 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TRMK. Vanguard Group Inc. boosted its position in shares of Trustmark by 0.8% during the fourth 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 lifted its stake in Trustmark by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,050,787 shares of the financial services provider’s stock valued at $121,683,000 after acquiring an additional 64,334 shares in the last quarter. Earnest Partners LLC boosted its holdings in Trustmark by 3.1% during the 2nd 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 last quarter. American Century Companies Inc. grew its stake in shares of Trustmark by 25.3% in the 2nd quarter. American Century Companies Inc. now owns 986,322 shares of the financial services provider’s stock worth $29,629,000 after acquiring an additional 199,245 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Trustmark by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 685,875 shares of the financial services provider’s stock valued at $20,604,000 after purchasing an additional 2,714 shares during 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.