Trustmark (NASDAQ:TRMK) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Trustmark (NASDAQ:TRMK) from a sell rating to a hold rating in a research note released on Friday morning.

Several other equities research analysts have also weighed in on TRMK. Keefe, Bruyette & Woods upped their price objective on Trustmark from $27.00 to $30.00 and gave the company a market perform rating in a research note on Friday, January 26th. Truist Financial upped their price objective on Trustmark from $29.00 to $30.00 and gave the stock a hold rating in a report on Monday, April 1st. TheStreet raised Trustmark from a c+ rating to a b rating in a report on Tuesday, January 23rd. DA Davidson restated a neutral rating on shares of Trustmark in a research report on Monday, January 15th. Finally, Piper Sandler reiterated a neutral rating and set a $29.00 target price on shares of Trustmark in a report on Tuesday, March 26th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Trustmark currently has a consensus rating of Hold and a consensus price target of $29.67.

Trustmark Trading Up 0.1 %

Shares of TRMK opened at $26.75 on Friday. Trustmark has a 12-month low of $18.96 and a 12-month high of $28.65. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 9.87 and a beta of 0.82. The stock’s 50-day moving average price is $26.73 and its 200 day moving average price is $25.36.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.04. Trustmark had a return on equity of 10.77% and a net margin of 15.06%. The company had revenue of $189.85 million for the quarter, compared to analyst estimates of $187.63 million. During the same period in the prior year, the company posted $0.68 EPS. The company’s revenue was down 2.7% compared to the same quarter last year. As a group, research analysts predict that Trustmark will post 2.44 earnings per share for the current year.

Institutional Investors Weigh In On Trustmark

Several hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC bought a new stake in shares of Trustmark in the third quarter valued at approximately $28,000. Arlington Trust Co LLC acquired a new position in Trustmark during the fourth quarter valued at approximately $84,000. Nisa Investment Advisors LLC raised its position in Trustmark by 1,029.7% during the third quarter. Nisa Investment Advisors LLC now owns 6,055 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 5,519 shares in the last quarter. Advisor Resource Council acquired a new position in Trustmark during the fourth quarter valued at approximately $230,000. Finally, Teza Capital Management LLC acquired a new position in shares of Trustmark during the third quarter worth $242,000. 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.