Trustmark (NASDAQ:TRMK) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of Trustmark (NASDAQ:TRMK) from a hold rating to a sell rating in a report released on Wednesday morning.

TRMK has been the topic of several other research reports. DA Davidson increased their price target on shares of Trustmark from $34.00 to $38.00 and gave the stock a neutral rating in a report on Thursday, July 25th. Truist Financial cut their price target on shares of Trustmark from $37.00 to $35.00 and set a hold rating on the stock in a report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $34.50.

Trustmark Price Performance

Shares of NASDAQ:TRMK opened at $32.96 on Wednesday. Trustmark has a twelve month low of $18.96 and a twelve month high of $35.72. The company’s 50 day moving average is $31.98 and its 200 day moving average is $30.48. 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 company has a market cap of $2.02 billion, a PE ratio of 12.82 and a beta of 0.73.

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

Trustmark Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were paid a dividend of $0.23 per share. The ex-dividend date was Friday, August 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.79%. Trustmark’s payout ratio is 35.80%.

Institutional Investors Weigh In On Trustmark

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in shares of Trustmark by 62.1% during the 2nd quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 351 shares during the period. EntryPoint Capital LLC purchased a new position in shares of Trustmark during the 1st quarter valued at approximately $52,000. Innealta Capital LLC purchased a new position in shares of Trustmark during the 2nd quarter valued at approximately $61,000. CWM LLC lifted its position in shares of Trustmark by 14.6% during the 2nd quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock valued at $144,000 after buying an additional 611 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. purchased a new position in shares of Trustmark during the 2nd quarter valued at approximately $238,000. Institutional investors and hedge funds 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.