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

StockNews.com downgraded shares of Trustmark (NASDAQ:TRMK) from a hold rating to a sell rating in a research report sent to investors on Monday.

Several other research firms also recently commented on TRMK. DA Davidson upped their price target on shares of Trustmark from $34.00 to $38.00 and gave the company a neutral rating in a research note on Thursday, July 25th. Truist Financial decreased their target price 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $34.50.

Trustmark Trading Up 0.5 %

Shares of TRMK stock opened at $31.59 on Monday. Trustmark has a 12-month low of $18.96 and a 12-month high of $35.72. The company has a market capitalization of $1.93 billion, a PE ratio of 12.29 and a beta of 0.74. The firm has a 50 day moving average price of $32.50 and a two-hundred day moving average price of $30.04. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.10.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.03. The business 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 EPS. As a group, analysts predict that Trustmark will post 2.92 earnings per share for the current year.

Trustmark Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date was Friday, August 30th. Trustmark’s dividend payout ratio (DPR) is presently 35.80%.

Institutional Investors Weigh In On Trustmark

A number of large investors have recently bought and sold shares of TRMK. State Board of Administration of Florida Retirement System raised its position in shares of Trustmark by 101.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 35,048 shares of the financial services provider’s stock valued at $985,000 after buying an additional 17,670 shares in the last quarter. Rafferty Asset Management LLC raised its position in Trustmark by 79.2% during the fourth quarter. Rafferty Asset Management LLC now owns 68,202 shares of the financial services provider’s stock valued at $1,901,000 after purchasing an additional 30,134 shares in the last quarter. Wakefield Asset Management LLLP bought a new stake in Trustmark during the first quarter worth $949,000. Kennedy Capital Management LLC acquired a new stake in shares of Trustmark in the 1st quarter valued at $2,604,000. Finally, Wellington Management Group LLP bought a new position in shares of Trustmark in the 4th quarter valued at $12,572,000. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Trustmark Company Profile

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.