Zacks Investment Research downgraded shares of Trustmark (NASDAQ:TRMK) from a hold rating to a sell rating in a research report released on Tuesday.
According to Zacks, “Trustmark Corporation is a multi-bank holding company. Its primary business activities are conducted through its wholly-owned subsidiary, Trustmark National Bank and Trustmark National Bank’s wholly-owned nonbanking subsidiaries, Trustmark Financial Services, Inc. and Trustmark Insurance Agency, Inc. Trustmark National Bank accounts for substantially all of the assets and revenues of the company. “
TRMK has been the subject of a number of other reports. BidaskClub upgraded shares of Trustmark from a sell rating to a hold rating in a research note on Thursday, January 11th. SunTrust Banks reduced their price objective on shares of Trustmark to $33.00 and set an average rating for the company in a research note on Tuesday, January 30th. Stephens restated a hold rating and set a $34.00 price objective on shares of Trustmark in a research note on Thursday, January 25th. Hovde Group set a $33.00 price objective on shares of Trustmark and gave the company a hold rating in a research note on Monday, February 5th. Finally, Keefe, Bruyette & Woods reiterated a hold rating and issued a $33.00 price target on shares of Trustmark in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. The company presently has an average rating of Hold and a consensus price target of $34.50.
Shares of Trustmark (NASDAQ TRMK) opened at $33.02 on Tuesday. The firm has a market cap of $2,273.26, a PE ratio of 21.30 and a beta of 1.08. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.77. Trustmark has a 12 month low of $28.16 and a 12 month high of $35.09.
Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.48. The business had revenue of $153.06 million during the quarter, compared to analyst estimates of $152.80 million. Trustmark had a net margin of 16.15% and a return on equity of 8.35%. During the same period last year, the business earned $0.43 EPS. equities research analysts predict that Trustmark will post 2.15 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.79%. Trustmark’s dividend payout ratio is presently 59.35%.
Several hedge funds have recently made changes to their positions in the company. Meadow Creek Investment Management LLC grew its stake in shares of Trustmark by 23.7% in the fourth quarter. Meadow Creek Investment Management LLC now owns 8,734 shares of the financial services provider’s stock worth $278,000 after acquiring an additional 1,672 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Trustmark by 0.8% in the third quarter. Ameriprise Financial Inc. now owns 206,181 shares of the financial services provider’s stock worth $6,829,000 after acquiring an additional 1,674 shares during the period. Profund Advisors LLC grew its stake in shares of Trustmark by 18.5% in the fourth quarter. Profund Advisors LLC now owns 11,991 shares of the financial services provider’s stock worth $382,000 after acquiring an additional 1,870 shares during the period. ING Groep NV grew its stake in shares of Trustmark by 23.2% in the fourth quarter. ING Groep NV now owns 10,222 shares of the financial services provider’s stock worth $326,000 after acquiring an additional 1,926 shares during the period. Finally, Jane Street Group LLC grew its stake in shares of Trustmark by 27.3% in the fourth quarter. Jane Street Group LLC now owns 10,529 shares of the financial services provider’s stock worth $335,000 after acquiring an additional 2,255 shares during the period. Hedge funds and other institutional investors own 63.77% of the company’s stock.
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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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