Trustmark (NASDAQ:TRMK) Upgraded 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 Thursday.

Several other analysts have also recently commented on TRMK. Truist Financial dropped 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 Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $34.50.

Trustmark Price Performance

Trustmark stock opened at $34.46 on Thursday. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 13.41 and a beta of 0.73. Trustmark has a 12-month low of $18.96 and a 12-month high of $35.75. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.10. The business’s 50-day simple moving average is $32.60 and its 200 day simple moving average is $30.90.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.82 by $0.02. The company had revenue of $192.30 million during the quarter, compared to analysts’ expectations of $192.77 million. Trustmark had a net margin of 16.24% and a return on equity of 9.32%. During the same quarter in the previous year, the company earned $0.64 EPS. As a group, research analysts anticipate that Trustmark will post 2.92 earnings per share for the current year.

Trustmark Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, November 29th. Trustmark’s dividend payout ratio (DPR) is 35.80%.

Institutional Trading of Trustmark

Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in Trustmark by 62.1% in the second quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 351 shares during the period. EntryPoint Capital LLC bought a new position in shares of Trustmark during the 1st quarter valued at about $52,000. Innealta Capital LLC acquired a new position in shares of Trustmark in the 2nd quarter valued at approximately $61,000. nVerses Capital LLC bought a new stake in Trustmark during the 3rd quarter worth approximately $67,000. Finally, CWM LLC raised its holdings in Trustmark by 14.6% during the 2nd quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock worth $144,000 after buying an additional 611 shares during the period. 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.