Trustmark (NASDAQ:TRMK) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of Trustmark (NASDAQ:TRMK) from a sell rating to a hold rating in a report published on Saturday.

A number of other equities analysts also recently commented on TRMK. Keefe, Bruyette & Woods upgraded shares of Trustmark from a market perform rating to an outperform rating and boosted their target price for the stock from $30.00 to $36.00 in a research note on Thursday. DA Davidson boosted their target price on shares of Trustmark from $30.00 to $34.00 and gave the stock a neutral rating in a research note on Thursday. Piper Sandler reiterated a neutral rating and set a $29.00 target price on shares of Trustmark in a research note on Tuesday, March 26th. Truist Financial boosted their target price on shares of Trustmark from $30.00 to $32.00 and gave the stock a hold rating in a research note on Friday. Finally, TheStreet raised shares of Trustmark from a c+ rating to a b rating in a research report on Tuesday, January 23rd. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Trustmark has an average rating of Hold and a consensus target price of $32.75.

Trustmark Stock Performance

Shares of TRMK stock opened at $30.05 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. Trustmark has a 52 week low of $18.96 and a 52 week high of $30.21. The stock has a market capitalization of $1.84 billion, a PE ratio of 11.69 and a beta of 0.82. The firm has a 50 day moving average of $26.89 and a two-hundred day moving average of $25.58.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.08. The business had revenue of $288.55 million during the quarter, compared to analysts’ expectations of $187.03 million. Trustmark had a net margin of 13.82% and a return on equity of 10.04%. During the same period in the previous year, the company earned $0.82 EPS. On average, research analysts predict that Trustmark will post 2.53 EPS for the current fiscal year.

Trustmark Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.06%. Trustmark’s payout ratio is 35.80%.

Institutional Investors Weigh In On Trustmark

A number of institutional investors and hedge funds have recently made changes to their positions in TRMK. AE Wealth Management LLC purchased a new stake in shares of Trustmark in the third quarter valued at about $337,000. SG Americas Securities LLC purchased a new stake in shares of Trustmark in the third quarter valued at about $535,000. Commonwealth Equity Services LLC raised its holdings in shares of Trustmark by 4.8% in the third quarter. Commonwealth Equity Services LLC now owns 12,824 shares of the financial services provider’s stock valued at $279,000 after buying an additional 587 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Trustmark by 29.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,369 shares of the financial services provider’s stock valued at $269,000 after buying an additional 2,813 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in Trustmark during the third quarter worth about $562,000. 67.64% of the stock is owned by hedge funds and other institutional investors.

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.