StockNews.com Upgrades Trustmark (NASDAQ:TRMK) to “Hold”

Trustmark (NASDAQ:TRMK) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

TRMK has been the subject of a number of other reports. Piper Sandler reaffirmed a “neutral” rating and set a $29.00 price objective on shares of Trustmark in a research report on Tuesday, March 26th. Keefe, Bruyette & Woods increased their target price on Trustmark from $27.00 to $30.00 and gave the stock a “market perform” rating in a research note on Friday, January 26th. Truist Financial increased their target price on Trustmark from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, April 1st. DA Davidson reissued a “neutral” rating on shares of Trustmark in a research note on Monday, January 15th. Finally, TheStreet raised Trustmark from a “c+” rating to a “b” rating in a research note on Tuesday, January 23rd. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $29.67.

Trustmark Stock Up 3.9 %

Trustmark stock opened at $26.73 on Friday. Trustmark has a twelve month low of $18.96 and a twelve month high of $28.65. The stock has a 50 day moving average of $26.73 and a two-hundred day moving average of $25.30. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 9.86 and a beta of 0.82.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. Trustmark had a return on equity of 10.77% and a net margin of 15.06%. The company had revenue of $189.85 million during the quarter, compared to analysts’ expectations of $187.63 million. During the same period last year, the firm earned $0.68 EPS. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, research analysts expect that Trustmark will post 2.44 earnings per share for the current year.

Hedge Funds Weigh In On Trustmark

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in 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 in the last quarter. Wellington Management Group LLP purchased a new position in Trustmark in the 4th quarter valued at approximately $12,572,000. Price T Rowe Associates Inc. MD increased its stake in Trustmark by 3.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 43,961 shares of the financial services provider’s stock valued at $1,226,000 after purchasing an additional 1,621 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Trustmark in the 4th quarter valued at approximately $203,000. Finally, Legal & General Group Plc increased its stake in Trustmark by 0.3% in the 4th quarter. Legal & General Group Plc now owns 167,034 shares of the financial services provider’s stock valued at $4,657,000 after purchasing an additional 546 shares in the last quarter. 67.64% of the stock is 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.