Trustmark (NASDAQ:TRMK) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Wednesday, BidAskClub reports.

Several other research analysts have also recently weighed in on TRMK. Zacks Investment Research cut Trustmark from a “buy” rating to a “hold” rating in a research report on Friday, January 18th. Stephens set a $32.00 price objective on Trustmark and gave the stock a “hold” rating in a research report on Friday, January 25th. Finally, Keefe, Bruyette & Woods cut Trustmark from a “market perform” rating to an “underperform” rating and set a $34.00 price objective on the stock. in a research report on Tuesday, March 19th. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Trustmark presently has a consensus rating of “Hold” and a consensus price target of $34.17.

TRMK stock traded down $0.26 during trading hours on Wednesday, hitting $33.55. 247,500 shares of the stock were exchanged, compared to its average volume of 444,381. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.83 and a quick ratio of 0.81. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 15.18 and a beta of 1.08. Trustmark has a 12 month low of $26.84 and a 12 month high of $36.63.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $149.53 million for the quarter, compared to the consensus estimate of $151.17 million. Trustmark had a return on equity of 9.19% and a net margin of 21.24%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.54 EPS. Research analysts expect that Trustmark will post 2.24 EPS for the current year.

In related news, insider Breck W. Tyler sold 2,400 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $35.73, for a total value of $85,752.00. Following the transaction, the insider now owns 43,054 shares in the company, valued at $1,538,319.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Harry M. Walker sold 1,880 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $35.57, for a total value of $66,871.60. The disclosure for this sale can be found here. Insiders sold 11,741 shares of company stock worth $418,531 in the last 90 days. 1.50% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in Trustmark by 2.6% in the fourth quarter. BlackRock Inc. now owns 9,652,497 shares of the financial services provider’s stock valued at $274,420,000 after buying an additional 241,051 shares in the last quarter. Vanguard Group Inc. boosted its stake in Trustmark by 1.1% in the third quarter. Vanguard Group Inc. now owns 6,008,142 shares of the financial services provider’s stock valued at $202,174,000 after buying an additional 65,576 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Trustmark by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,475,878 shares of the financial services provider’s stock valued at $155,679,000 after buying an additional 33,023 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Trustmark by 110.9% in the first quarter. JPMorgan Chase & Co. now owns 1,543,380 shares of the financial services provider’s stock valued at $51,904,000 after buying an additional 811,674 shares in the last quarter. Finally, FMR LLC boosted its stake in Trustmark by 135.3% in the fourth quarter. FMR LLC now owns 1,075,732 shares of the financial services provider’s stock valued at $30,584,000 after buying an additional 618,637 shares in the last quarter. Institutional investors own 69.20% of the company’s stock.

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 offers checking, savings, and money market accounts; individual retirement accounts; certificates of deposits; 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.

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Analyst Recommendations for Trustmark (NASDAQ:TRMK)

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