Trustmark (NASDAQ:TRMK) Upgraded at StockNews.com

StockNews.com upgraded shares of Trustmark (NASDAQ:TRMK) from a sell rating to a hold rating in a report published on Thursday morning.

Other equities research analysts also recently issued research reports about the company. Truist Financial lowered their price target on Trustmark from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. DA Davidson raised their price objective on Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Trustmark presently has a consensus rating of “Hold” and a consensus target price of $34.75.

Trustmark Stock Down 1.1 %

TRMK stock opened at $34.08 on Thursday. The company’s 50 day moving average is $32.65 and its 200 day moving average is $30.97. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 10.30 and a beta of 0.73. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. Trustmark has a 1-year low of $19.08 and a 1-year high of $35.75.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.02. Trustmark had a net margin of 17.62% and a return on equity of 9.80%. The firm had revenue of $192.30 million for the quarter, compared to analyst estimates of $192.77 million. During the same quarter in the prior year, the firm earned $0.64 EPS. Sell-side analysts predict that Trustmark will post 2.92 EPS for the current fiscal year.

Trustmark Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be paid a dividend of $0.23 per share. The ex-dividend date is Friday, November 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.70%. Trustmark’s dividend payout ratio (DPR) is currently 27.79%.

Institutional Investors Weigh In On Trustmark

A number of hedge funds and other institutional investors have recently modified their holdings of TRMK. Wellington Management Group LLP bought a new position in Trustmark during the 4th quarter worth approximately $12,572,000. American Century Companies Inc. grew its holdings in shares of Trustmark by 25.3% in the second quarter. American Century Companies Inc. now owns 986,322 shares of the financial services provider’s stock worth $29,629,000 after purchasing an additional 199,245 shares during the last quarter. Stieven Capital Advisors L.P. grew its holdings in shares of Trustmark by 57.2% in the first quarter. Stieven Capital Advisors L.P. now owns 503,000 shares of the financial services provider’s stock worth $14,139,000 after purchasing an additional 183,100 shares during the last quarter. Hanson & Doremus Investment Management purchased a new position in shares of Trustmark in the second quarter worth $4,199,000. Finally, Earnest Partners LLC raised its holdings in Trustmark by 3.1% during the 2nd quarter. Earnest Partners LLC now owns 3,442,019 shares of the financial services provider’s stock valued at $103,398,000 after buying an additional 102,268 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.