Trustmark (TRMK) Downgraded by BidaskClub

Trustmark (NASDAQ:TRMK) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

Other analysts have also recently issued research reports about the company. Zacks Investment Research raised Trustmark from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Friday, September 8th. ValuEngine raised Trustmark from a “hold” rating to a “buy” rating in a report on Saturday, September 30th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $34.00 price target on shares of Trustmark in a report on Thursday, October 26th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $36.00 price target on shares of Trustmark in a report on Thursday, October 12th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The company presently has an average rating of “Hold” and an average target price of $34.40.

Shares of Trustmark (NASDAQ:TRMK) opened at $32.55 on Thursday. Trustmark has a 1-year low of $28.16 and a 1-year high of $36.58. The firm has a market capitalization of $2,190.78, a PE ratio of 17.20 and a beta of 1.15. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 0.04.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. Trustmark had a return on equity of 8.21% and a net margin of 18.56%. The firm had revenue of $153.37 million for the quarter, compared to analysts’ expectations of $154.40 million. During the same quarter last year, the firm posted $0.47 EPS. equities research analysts forecast that Trustmark will post 1.91 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Amalgamated Bank raised its holdings in shares of Trustmark by 1.1% during the 2nd quarter. Amalgamated Bank now owns 9,582 shares of the financial services provider’s stock valued at $308,000 after buying an additional 102 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Trustmark by 2.9% during the 2nd quarter. IFP Advisors Inc now owns 8,887 shares of the financial services provider’s stock valued at $286,000 after buying an additional 253 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Trustmark by 9.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,333 shares of the financial services provider’s stock valued at $107,000 after buying an additional 296 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Trustmark by 1.4% during the 2nd quarter. Arizona State Retirement System now owns 28,600 shares of the financial services provider’s stock valued at $920,000 after buying an additional 400 shares in the last quarter. Finally, Comerica Bank raised its holdings in shares of Trustmark by 0.8% during the 2nd quarter. Comerica Bank now owns 52,507 shares of the financial services provider’s stock valued at $1,686,000 after buying an additional 418 shares in the last quarter. 62.54% of the stock is currently owned by institutional investors.

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Trustmark Company Profile

Trustmark Corporation is a bank holding company. The Company’s principal subsidiary is Trustmark National Bank (TNB). Through TNB and its subsidiaries, the Company operates as a financial services company providing banking and other financial solutions. It operates through three segments: General Banking, Wealth Management and Insurance.

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