Trustmark (NASDAQ:TRMK) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Trustmark (NASDAQ:TRMK) from a sell rating to a hold rating in a research note published on Sunday.

Other equities analysts also recently issued research reports about the company. Weiss Ratings upgraded Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, June 1st. DA Davidson lifted their target price on shares of Trustmark from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Finally, Piper Sandler increased their price target on shares of Trustmark from $45.50 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $46.12.

Trustmark Stock Performance

Shares of NASDAQ TRMK opened at $47.42 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.87. Trustmark has a one year low of $36.33 and a one year high of $49.00. The business’s 50-day moving average price is $46.02 and its two-hundred day moving average price is $44.31. The company has a market capitalization of $2.78 billion, a P/E ratio of 12.04 and a beta of 0.65.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The company had revenue of $213.38 million during the quarter, compared to the consensus estimate of $210.30 million. Trustmark had a return on equity of 10.69% and a net margin of 20.75%.The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the business earned $0.92 EPS. Analysts anticipate that Trustmark will post 3.93 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.1%. Trustmark’s dividend payout ratio is currently 25.38%.

Institutional Investors Weigh In On Trustmark

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Trustmark during the second quarter worth approximately $395,920,000. Deutsche Bank AG acquired a new stake in shares of Trustmark in the second quarter worth $2,679,000. Global Retirement Partners LLC bought a new stake in shares of Trustmark during the 2nd quarter worth $63,000. Silverlake Wealth Management LLC bought a new stake in shares of Trustmark during the 2nd quarter worth $220,000. Finally, Bank of New York Mellon Corp bought a new position in Trustmark in the 2nd quarter worth $22,676,000. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Trustmark Company Profile

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.