Trustmark (TRMK) Lowered to “Sell” at Zacks Investment Research
Trustmark (NASDAQ:TRMK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Trustmark Corporation is a multi-bank holding company. Its primary business activities are conducted through its wholly-owned subsidiary, Trustmark National Bank and Trustmark National Bank’s wholly-owned nonbanking subsidiaries, Trustmark Financial Services, Inc. and Trustmark Insurance Agency, Inc. Trustmark National Bank accounts for substantially all of the assets and revenues of the company. “
Other research analysts also recently issued reports about the company. SunTrust Banks cut their target price on Trustmark to $33.00 and set an “average” rating on the stock in a report on Tuesday, January 30th. Hovde Group set a $33.00 target price on Trustmark and gave the stock a “hold” rating in a report on Monday, February 5th. BidaskClub raised Trustmark from a “sell” rating to a “hold” rating in a report on Monday, February 5th. Stephens reissued a “hold” rating and issued a $34.00 price objective on shares of Trustmark in a research note on Thursday, January 25th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $33.00 price objective on shares of Trustmark in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Trustmark presently has a consensus rating of “Hold” and an average price target of $34.50.
Trustmark (NASDAQ:TRMK) last announced its earnings results on Tuesday, January 23rd. The financial services provider reported $0.48 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.48. The firm had revenue of $153.06 million for the quarter, compared to the consensus estimate of $152.80 million. Trustmark had a return on equity of 8.35% and a net margin of 16.15%. During the same period in the previous year, the business earned $0.43 EPS. equities research analysts forecast that Trustmark will post 2.15 EPS for the current fiscal year.
Several large investors have recently made changes to their positions in the company. Crossmark Global Holdings Inc. acquired a new position in Trustmark during the 3rd quarter worth approximately $202,000. Paloma Partners Management Co acquired a new position in Trustmark during the 4th quarter worth approximately $220,000. Sciencast Management LP acquired a new position in Trustmark during the 4th quarter worth approximately $233,000. Public Employees Retirement System of Ohio raised its stake in Trustmark by 107.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 7,468 shares of the financial services provider’s stock worth $247,000 after buying an additional 3,870 shares during the period. Finally, Xact Kapitalforvaltning AB acquired a new position in Trustmark during the 4th quarter worth approximately $257,000. 63.77% of the stock is currently owned by institutional investors.
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Trustmark Company Profile
Trustmark Corporation is a bank holding company. The Company’s principal subsidiary is Trustmark National Bank (TNB). Through TNB and its subsidiaries, the Company operates as a financial services company providing banking and other financial solutions. It operates through three segments: General Banking, Wealth Management and Insurance.
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