Trustmark (NASDAQ:TRMK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Trustmark (NASDAQ:TRMK) from a sell rating to a hold rating in a research report released on Saturday morning.

TRMK has been the subject of a number of other research reports. Zacks Research downgraded shares of Trustmark from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Trustmark in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.25.

Trustmark Trading Up 2.5%

TRMK stock opened at $40.08 on Friday. The firm has a fifty day moving average price of $39.08 and a 200 day moving average price of $38.82. Trustmark has a fifty-two week low of $29.77 and a fifty-two week high of $41.42. The firm has a market cap of $2.40 billion, a PE ratio of 10.95 and a beta of 0.69. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.87 and a current ratio of 0.88.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Trustmark had a net margin of 19.82% and a return on equity of 10.90%. The business had revenue of $207.53 million for the quarter, compared to analysts’ expectations of $206.13 million. During the same period in the previous year, the company earned $0.84 EPS. Trustmark’s revenue for the quarter was up 5.3% compared to the same quarter last year. Sell-side analysts anticipate that Trustmark will post 3.42 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Monday, December 1st. Trustmark’s dividend payout ratio is 26.23%.

Institutional Trading of Trustmark

Institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of Trustmark by 8.9% in the third quarter. Wellington Management Group LLP now owns 3,883,882 shares of the financial services provider’s stock worth $153,802,000 after buying an additional 316,851 shares during the period. American Century Companies Inc. lifted its stake in shares of Trustmark by 30.5% during the 3rd quarter. American Century Companies Inc. now owns 564,180 shares of the financial services provider’s stock worth $22,342,000 after acquiring an additional 132,023 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Trustmark by 17.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 470,756 shares of the financial services provider’s stock valued at $16,236,000 after acquiring an additional 69,110 shares during the period. Fisher Asset Management LLC grew its position in Trustmark by 13.6% in the 2nd quarter. Fisher Asset Management LLC now owns 413,465 shares of the financial services provider’s stock valued at $15,075,000 after acquiring an additional 49,540 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in Trustmark by 7.3% in the 3rd quarter. Federated Hermes Inc. now owns 369,109 shares of the financial services provider’s stock valued at $14,617,000 after acquiring an additional 25,164 shares during the last quarter. Institutional investors own 67.64% of the company’s stock.

Trustmark Company Profile

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.