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

Trustmark (NASDAQ:TRMK) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

A number of other equities research analysts also recently weighed in on the stock. Truist Financial decreased their price target on shares of Trustmark from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. DA Davidson lifted their price objective on Trustmark from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. One equities research 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. According to data from MarketBeat.com, Trustmark currently has an average rating of “Hold” and an average target price of $34.50.

Trustmark Trading Up 0.2 %

NASDAQ:TRMK opened at $31.79 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.87 and a quick ratio of 0.86. The stock has a market cap of $1.95 billion, a PE ratio of 12.37 and a beta of 0.73. The stock’s 50-day moving average is $32.04 and its two-hundred day moving average is $30.39. Trustmark has a fifty-two week low of $18.96 and a fifty-two week high of $35.72.

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

Institutional Investors Weigh In On Trustmark

A number of hedge funds and other institutional investors have recently bought and sold shares of TRMK. State Board of Administration of Florida Retirement System increased its stake in shares of Trustmark by 101.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 35,048 shares of the financial services provider’s stock valued at $985,000 after buying an additional 17,670 shares during the period. Wakefield Asset Management LLLP acquired a new stake in Trustmark during the 1st quarter valued at approximately $949,000. Kennedy Capital Management LLC bought a new position in Trustmark during the 1st quarter worth approximately $2,604,000. Wellington Management Group LLP acquired a new position in shares of Trustmark in the 4th quarter worth approximately $12,572,000. Finally, Vanguard Group Inc. boosted its stake in shares of Trustmark by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 6,712,905 shares of the financial services provider’s stock valued at $187,156,000 after purchasing an additional 50,795 shares during 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.