Trustmark (NASDAQ:TRMK) Downgraded by StockNews.com

StockNews.com cut shares of Trustmark (NASDAQ:TRMK) from a hold rating to a sell rating in a research note published on Monday.

TRMK has been the topic of several other research reports. DA Davidson increased their price target on Trustmark from $34.00 to $38.00 and gave the stock a neutral rating in a report on Thursday, July 25th. Truist Financial reduced their price target on shares of Trustmark from $37.00 to $35.00 and set a hold rating for the company in a research report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Trustmark presently has an average rating of Hold and a consensus price target of $34.50.

Trustmark Price Performance

TRMK stock opened at $31.59 on Monday. 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 $18.96 and a 52-week high of $35.72. The company has a market capitalization of $1.93 billion, a P/E ratio of 12.29 and a beta of 0.74. The company has a fifty day moving average price of $32.50 and a 200-day moving average price of $30.04.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.03. The business had revenue of $283.96 million for the quarter, compared to analyst estimates of $229.83 million. Trustmark had a net margin of 16.24% and a return on equity of 9.32%. During the same quarter in the previous year, the business earned $0.74 earnings per share. As a group, equities analysts expect that Trustmark will post 2.92 EPS for the current year.

Trustmark Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were issued a $0.23 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.91%. Trustmark’s payout ratio is currently 35.80%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in Trustmark by 62.1% in the 2nd quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock worth $28,000 after buying an additional 351 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of Trustmark in the 1st quarter worth approximately $52,000. Innealta Capital LLC purchased a new stake in shares of Trustmark in the 2nd quarter valued at $61,000. CWM LLC grew its holdings in shares of Trustmark by 14.6% during the 2nd quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 611 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. bought a new position in shares of Trustmark during the 2nd quarter valued at $238,000. 67.64% of the stock is currently owned by hedge funds and other 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.