Trustmark (NASDAQ:TRMK) Raised to “Hold” at Wall Street Zen

Trustmark (NASDAQ:TRMK) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Sunday.

Other equities analysts also recently issued research reports about the stock. Weiss Ratings raised shares of Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, June 1st. DA Davidson lifted their price objective on shares of Trustmark from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Finally, Piper Sandler boosted their target price on shares of Trustmark from $45.50 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Trustmark has an average rating of “Hold” and an average price target of $46.12.

Trustmark Stock Down 0.3%

Shares of Trustmark stock opened at $47.30 on Friday. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 12.01 and a beta of 0.65. Trustmark has a twelve month low of $36.33 and a twelve month high of $49.00. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11. The business’s 50 day simple moving average is $46.10 and its 200-day simple moving average is $44.36.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. Trustmark had a return on equity of 10.69% and a net margin of 20.75%.The business had revenue of $213.38 million during the quarter, compared to analyst estimates of $210.30 million. During the same quarter in the previous year, the firm posted $0.92 EPS. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. Equities research analysts forecast that Trustmark will post 3.93 earnings per share for the current year.

Hedge Funds Weigh In On Trustmark

Several large investors have recently bought and sold shares of the stock. Hsbc Holdings PLC acquired a new stake in shares of Trustmark during the fourth quarter worth $898,000. UBS Group AG boosted its position in shares of Trustmark by 282.0% in the 4th quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock valued at $24,944,000 after purchasing an additional 472,751 shares during the period. Horizon Investments LLC acquired a new position in shares of Trustmark in the 4th quarter valued at $1,185,000. North Reef Capital Management LP purchased a new position in Trustmark in the 1st quarter worth about $82,296,000. Finally, Fifth Third Bancorp increased its stake in Trustmark by 8,376.7% in the 1st quarter. Fifth Third Bancorp now owns 21,785 shares of the financial services provider’s stock worth $918,000 after purchasing an additional 21,528 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

About Trustmark

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.