Trustmark (NASDAQ:TRMK) Upgraded by StockNews.com to Hold

Trustmark (NASDAQ:TRMK – Get Rating) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Friday.

Other analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods decreased their price target on shares of Trustmark from $30.00 to $28.00 and set a “market perform” rating for the company in a research note on Thursday, April 6th. Raymond James lowered shares of Trustmark from an “outperform” rating to a “market perform” rating in a report on Thursday, April 6th. Truist Financial cut their price objective on shares of Trustmark from $37.00 to $30.00 and set a “hold” rating on the stock in a report on Wednesday, February 1st. TheStreet lowered shares of Trustmark from a “b-” rating to a “c+” rating in a report on Wednesday, March 8th. Finally, Piper Sandler cut their price objective on shares of Trustmark from $36.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, January 26th. Six research analysts have rated the stock with a hold rating, According to MarketBeat, Trustmark presently has an average rating of “Hold” and a consensus price target of $33.17.

Trustmark Trading Up 1.5 %

Shares of Trustmark stock traded up $0.33 on Friday, hitting $21.79. 189,269 shares of the company traded hands, compared to its average volume of 326,453. The stock’s 50 day moving average price is $23.27 and its 200-day moving average price is $29.38. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.12. Trustmark has a 52 week low of $20.28 and a 52 week high of $38.47. The company has a market cap of $1.33 billion, a PE ratio of 14.43 and a beta of 0.78.

Trustmark (NASDAQ:TRMK – Get Rating) last posted its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.13. Trustmark had a net margin of 10.91% and a return on equity of 10.96%. The firm had revenue of $188.97 million during the quarter, compared to the consensus estimate of $189.76 million. During the same quarter in the previous year, the firm posted $0.47 earnings per share. The company’s revenue was up 23.1% on a year-over-year basis. Equities research analysts predict that Trustmark will post 2.53 EPS for the current year.

Insiders Place Their Bets

In other news, Director Richard H. Puckett purchased 2,000 shares of the business’s stock in a transaction on Monday, May 15th. The shares were acquired at an average cost of $21.11 per share, with a total value of $42,220.00. Following the completion of the acquisition, the director now owns 42,837 shares of the company’s stock, valued at $904,289.07. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Trustmark

Large investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC lifted its position in Trustmark by 160.4% during the fourth quarter. Quadrant Capital Group LLC now owns 763 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 470 shares during the period. Delta Asset Management LLC TN acquired a new position in Trustmark during the fourth quarter valued at $37,000. Coppell Advisory Solutions Corp. acquired a new position in Trustmark during the fourth quarter valued at $43,000. Point72 Middle East FZE acquired a new position in shares of Trustmark in the fourth quarter worth about $82,000. Finally, Belpointe Asset Management LLC acquired a new position in shares of Trustmark in the fourth quarter worth about $88,000. 65.83% of the stock is owned by hedge funds and other institutional investors.

About Trustmark

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Trustmark Corp. is a bank holding company, which engages in the provision of banking, wealth management and insurance solutions. It operates through the following segments: General Banking, Wealth Management, and Insurance. The General Banking segment offers traditional banking products and service. The Wealth Management segment provides integrated financial services and traditional banking products and services, such as private banking, money management, full-service brokerage, financial planning, personal and institutional trust, and retirement services.