Trustmark Corporation (TRMK) Rating Lowered to Hold at Zacks Investment Research
Trustmark Corporation (NASDAQ:TRMK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued 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. “
A number of other analysts also recently issued reports on the company. ValuEngine raised Trustmark Corporation from a “hold” rating to a “buy” rating in a report on Saturday, September 30th. Stephens set a $34.00 price target on Trustmark Corporation and gave the stock a “hold” rating in a report on Monday, August 7th. BidaskClub downgraded Trustmark Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Finally, Hovde Group downgraded Trustmark Corporation from an “outperform” rating to a “market perform” rating and set a $34.00 price target for the company. in a report on Friday, June 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Trustmark Corporation has a consensus rating of “Hold” and an average price target of $33.60.
Shares of Trustmark Corporation (NASDAQ:TRMK) opened at 32.93 on Tuesday. Trustmark Corporation has a 52 week low of $26.81 and a 52 week high of $36.79. The stock has a market capitalization of $2.23 billion, a PE ratio of 19.39 and a beta of 1.17. The company’s 50 day moving average price is $30.58 and its 200-day moving average price is $31.59.
Trustmark Corporation (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.03. The company had revenue of $157.10 million during the quarter, compared to the consensus estimate of $152.57 million. Trustmark Corporation had a return on equity of 8.04% and a net margin of 18.35%. During the same period in the previous year, the business earned $0.40 EPS. Equities research analysts predict that Trustmark Corporation will post $1.75 EPS for the current year.
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In other news, insider Charles Scott Woods sold 1,000 shares of the business’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $32.00, for a total value of $32,000.00. Following the completion of the sale, the insider now directly owns 13,344 shares of the company’s stock, valued at approximately $427,008. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.37% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Bank of Montreal Can lifted its holdings in shares of Trustmark Corporation by 0.3% in the 1st quarter. Bank of Montreal Can now owns 5,759 shares of the financial services provider’s stock valued at $182,000 after purchasing an additional 20 shares during the last quarter. First Midwest Bank Trust Division lifted its holdings in shares of Trustmark Corporation by 0.4% in the 2nd quarter. First Midwest Bank Trust Division now owns 13,410 shares of the financial services provider’s stock valued at $432,000 after purchasing an additional 55 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Trustmark Corporation by 0.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 6,592 shares of the financial services provider’s stock valued at $210,000 after purchasing an additional 61 shares during the last quarter. Somerset Trust Co lifted its holdings in shares of Trustmark Corporation by 0.5% in the 2nd quarter. Somerset Trust Co now owns 14,894 shares of the financial services provider’s stock valued at $479,000 after purchasing an additional 69 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of Trustmark Corporation by 1.1% in the 2nd quarter. Amalgamated Bank now owns 9,582 shares of the financial services provider’s stock valued at $308,000 after purchasing an additional 102 shares during the last quarter. 62.36% of the stock is owned by institutional investors and hedge funds.
Trustmark Corporation 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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