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

StockNews.com upgraded shares of Trustmark (NASDAQ:TRMK) from a sell rating to a hold rating in a research note released on Saturday.

A number of other equities research analysts also recently issued reports on the company. TheStreet upgraded Trustmark from a c+ rating to a b rating in a research note on Tuesday, January 23rd. Keefe, Bruyette & Woods raised Trustmark from a market perform rating to an outperform rating and raised their price objective for the stock from $30.00 to $36.00 in a research note on Thursday, April 25th. DA Davidson increased their target price on shares of Trustmark from $30.00 to $34.00 and gave the stock a neutral rating in a report on Thursday, April 25th. Truist Financial lifted their price target on shares of Trustmark from $30.00 to $32.00 and gave the company a hold rating in a report on Friday, April 26th. Finally, Piper Sandler reissued a neutral rating and issued a $29.00 price objective on shares of Trustmark in a research note on Tuesday, March 26th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Trustmark has an average rating of Hold and an average price target of $32.75.

Trustmark Stock Performance

Shares of Trustmark stock opened at $29.60 on Friday. Trustmark has a 12 month low of $18.96 and a 12 month high of $30.21. The firm has a market capitalization of $1.81 billion, a P/E ratio of 11.52 and a beta of 0.82. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.11. The business has a fifty day simple moving average of $27.00 and a two-hundred day simple moving average of $25.72.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.08. The firm had revenue of $288.55 million during the quarter, compared to analyst estimates of $187.03 million. Trustmark had a return on equity of 10.04% and a net margin of 13.82%. During the same quarter in the previous year, the firm earned $0.82 EPS. On average, equities analysts forecast that Trustmark will post 2.53 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 15th. Investors of record on Saturday, June 1st will be given a $0.23 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.92 annualized dividend and a yield of 3.11%. Trustmark’s dividend payout ratio is currently 35.80%.

Institutional Investors Weigh In On Trustmark

Several institutional investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC increased its stake in Trustmark by 4.8% in the third quarter. Commonwealth Equity Services LLC now owns 12,824 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 587 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Trustmark by 3.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,802 shares of the financial services provider’s stock valued at $775,000 after buying an additional 1,047 shares in the last quarter. Headlands Technologies LLC bought a new stake in Trustmark during the 3rd quarter valued at about $28,000. Swiss National Bank boosted its position in Trustmark by 1.0% in the 3rd quarter. Swiss National Bank now owns 127,500 shares of the financial services provider’s stock valued at $2,771,000 after buying an additional 1,300 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Trustmark by 11.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,818 shares of the financial services provider’s stock worth $385,000 after acquiring an additional 1,449 shares in the last quarter. Institutional investors own 67.64% of the company’s stock.

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.