Trustmark (NASDAQ:TRMK) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Trustmark (NASDAQ:TRMK) from a hold rating to a sell rating in a research report report published on Saturday.

TRMK has been the topic of several other research reports. Zacks Research lowered shares of Trustmark from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Trustmark currently has an average rating of “Moderate Buy” and an average price target of $42.25.

Trustmark Stock Performance

Shares of TRMK stock opened at $41.31 on Friday. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 11.29 and a beta of 0.69. Trustmark has a 1-year low of $29.77 and a 1-year high of $41.50. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09. The stock’s fifty day simple moving average is $39.54 and its 200-day simple moving average is $39.08.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, October 28th. The financial services provider reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Trustmark had a net margin of 19.82% and a return on equity of 10.90%. The firm had revenue of $207.53 million during the quarter, compared to analysts’ expectations of $206.13 million. During the same quarter last year, the firm earned $0.84 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, sell-side analysts predict that Trustmark will post 3.42 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, December 1st. Trustmark’s dividend payout ratio is currently 26.23%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Richardson Financial Services Inc. lifted its position in Trustmark by 86.7% during the 3rd quarter. Richardson Financial Services Inc. now owns 743 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 345 shares during the last quarter. Blue Trust Inc. bought a new position in shares of Trustmark in the fourth quarter worth about $31,000. Bessemer Group Inc. lifted its position in shares of Trustmark by 37.4% during the 3rd quarter. Bessemer Group Inc. now owns 1,073 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 292 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Trustmark by 452.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 1,022 shares during the period. Finally, IFP Advisors Inc boosted its stake in Trustmark by 24.1% during the 3rd quarter. IFP Advisors Inc now owns 1,375 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 267 shares during the period. Institutional investors own 67.64% of the company’s stock.

About Trustmark

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.