Trustmark (NASDAQ:TRMK) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Trustmark (NASDAQ:TRMK) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.

TRMK has been the subject of several other reports. Truist Financial decreased their target price on shares of Trustmark from $37.00 to $35.00 and set a hold rating for the company in a research report on Friday, September 20th. DA Davidson upped their price objective on shares of Trustmark from $34.00 to $38.00 and gave the stock a neutral rating in a report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $34.50.

Trustmark Trading Up 2.2 %

NASDAQ TRMK opened at $31.81 on Tuesday. The company has a market capitalization of $1.95 billion, a PE ratio of 12.38 and a beta of 0.73. Trustmark has a 1-year low of $18.96 and a 1-year high of $35.72. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. The firm’s fifty day simple moving average is $32.15 and its 200-day simple moving average is $30.27.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. The company had revenue of $283.96 million during the quarter, compared to the consensus estimate of $229.83 million. Trustmark had a return on equity of 9.32% and a net margin of 16.24%. During the same period last year, the business earned $0.74 EPS. As a group, sell-side analysts anticipate that Trustmark will post 2.92 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were issued a $0.23 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.92 annualized dividend and a yield of 2.89%. Trustmark’s dividend payout ratio (DPR) is presently 35.80%.

Institutional Investors Weigh In On Trustmark

Hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Trustmark during the 4th quarter worth about $10,992,000. Hsbc Holdings PLC bought a new position in Trustmark in the 4th quarter worth approximately $8,215,000. Campbell & CO Investment Adviser LLC lifted its holdings in shares of Trustmark by 14.9% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 13,989 shares of the financial services provider’s stock worth $390,000 after buying an additional 1,812 shares during the last quarter. Rafferty Asset Management LLC boosted its position in shares of Trustmark by 79.2% in the fourth quarter. Rafferty Asset Management LLC now owns 68,202 shares of the financial services provider’s stock valued at $1,901,000 after acquiring an additional 30,134 shares during the period. Finally, Verition Fund Management LLC bought a new stake in shares of Trustmark in the fourth quarter valued at approximately $5,611,000. 67.64% of the stock is currently owned by institutional investors.

Trustmark Company Profile

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.