Trustmark (NASDAQ:TRMK) Rating Increased to Hold at StockNews.com

Trustmark (NASDAQ:TRMK) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other brokerages also recently commented on TRMK. DA Davidson increased their price objective on shares of Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday. Truist Financial lowered their price target on shares of Trustmark from $37.00 to $35.00 and set a “hold” rating for the company in a report on Friday, September 20th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $34.75.

Trustmark Trading Down 1.1 %

Shares of TRMK opened at $34.08 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 0.87. Trustmark has a 52-week low of $19.08 and a 52-week high of $35.75. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 13.26 and a beta of 0.73. The business’s fifty day moving average is $32.65 and its 200-day moving average is $30.95.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. The firm had revenue of $192.30 million for the quarter, compared to analysts’ expectations of $192.77 million. Trustmark had a return on equity of 9.32% and a net margin of 16.24%. During the same quarter in the previous year, the business posted $0.64 earnings per share. Equities analysts anticipate that Trustmark will post 2.92 EPS for the current fiscal year.

Institutional Trading of Trustmark

A number of institutional investors and hedge funds have recently bought and sold shares of TRMK. Blue Trust Inc. lifted its holdings in Trustmark by 225.2% during the 3rd quarter. Blue Trust Inc. now owns 4,953 shares of the financial services provider’s stock worth $149,000 after buying an additional 3,430 shares during the period. nVerses Capital LLC acquired a new position in shares of Trustmark in the third quarter worth approximately $67,000. SG Americas Securities LLC boosted its holdings in Trustmark by 338.4% in the third quarter. SG Americas Securities LLC now owns 17,616 shares of the financial services provider’s stock valued at $561,000 after acquiring an additional 13,598 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Trustmark during the 2nd quarter valued at approximately $441,000. Finally, Magnolia Capital Advisors LLC bought a new position in Trustmark during the 2nd quarter worth approximately $1,081,000. 67.64% of the stock is currently owned by institutional investors and hedge funds.

About Trustmark

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.