Trustmark (NASDAQ:TRMK) Downgraded to “Sell” at StockNews.com

Trustmark (NASDAQ:TRMK) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

TRMK has been the subject of a number of other research reports. DA Davidson boosted their target price on Trustmark from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Truist Financial cut their price target on Trustmark from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $34.50.

Trustmark Stock Down 0.7 %

Shares of TRMK traded down $0.24 during trading hours on Monday, hitting $32.48. The company had a trading volume of 253,460 shares, compared to its average volume of 280,948. The firm has a fifty day moving average price of $32.63 and a 200-day moving average price of $29.99. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 0.87. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 12.64 and a beta of 0.74. Trustmark has a 52-week low of $18.96 and a 52-week high of $35.72.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, July 23rd. The financial services provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. Trustmark had a return on equity of 9.32% and a net margin of 16.24%. The business had revenue of $283.96 million during the quarter, compared to analyst estimates of $229.83 million. During the same quarter in the previous year, the firm earned $0.74 EPS. On average, equities research analysts forecast that Trustmark will post 2.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TRMK. Norges Bank bought a new position in Trustmark in the 4th quarter worth approximately $10,992,000. Hsbc Holdings PLC purchased a new stake in shares of Trustmark during the 4th quarter worth approximately $8,215,000. Connable Office Inc. purchased a new stake in shares of Trustmark during the 4th quarter worth approximately $446,000. Elizabeth Park Capital Advisors Ltd. purchased a new stake in shares of Trustmark during the 4th quarter worth approximately $1,592,000. Finally, Campbell & CO Investment Adviser LLC raised its holdings in Trustmark by 14.9% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 13,989 shares of the financial services provider’s stock valued at $390,000 after buying an additional 1,812 shares during the period. 67.64% of the stock is currently owned by institutional investors.

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.