Trustmark (NASDAQ:TRMK) Downgraded to “Sell” at StockNews.com

StockNews.com lowered shares of Trustmark (NASDAQ:TRMK) from a hold rating to a sell rating in a report issued on Wednesday morning.

Several other equities 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 research report on Friday, September 20th. DA Davidson increased their price target on shares of Trustmark from $34.00 to $38.00 and gave the company a neutral rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $34.50.

Trustmark Stock Up 0.4 %

Shares of TRMK stock opened at $31.93 on Wednesday. Trustmark has a 52-week low of $18.96 and a 52-week high of $35.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 0.87. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 12.42 and a beta of 0.73. The firm’s 50-day moving average is $31.98 and its 200-day moving average is $30.40.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. The company had revenue of $283.96 million during the quarter, compared to analysts’ expectations of $229.83 million. Trustmark had a return on equity of 9.32% and a net margin of 16.24%. During the same period last year, the firm posted $0.74 earnings per share. Sell-side analysts predict that Trustmark will post 2.92 EPS for the current year.

Trustmark Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend was Friday, August 30th. Trustmark’s dividend payout ratio is currently 35.80%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP acquired a new stake in Trustmark during the fourth quarter worth approximately $12,572,000. Verition Fund Management LLC bought a new position in shares of Trustmark in the fourth quarter worth $5,611,000. American Century Companies Inc. raised its stake in Trustmark by 25.3% in the second quarter. American Century Companies Inc. now owns 986,322 shares of the financial services provider’s stock valued at $29,629,000 after purchasing an additional 199,245 shares in the last quarter. Stieven Capital Advisors L.P. lifted its position in Trustmark by 57.2% during the first quarter. Stieven Capital Advisors L.P. now owns 503,000 shares of the financial services provider’s stock worth $14,139,000 after purchasing an additional 183,100 shares during the period. Finally, Hanson & Doremus Investment Management acquired a new stake in Trustmark during the second quarter worth about $4,199,000. 67.64% of the stock is owned by 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.