Trustmark (NASDAQ:TRMK) Cut to Sell at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen cut shares of Trustmark (NASDAQ:TRMK – Free Report) from a hold rating to a sell rating in a research report report published on Saturday.

Several other equities analysts have also commented on the stock. DA Davidson increased their target price on shares of Trustmark from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday. Keefe, Bruyette & Woods restated a “market perform” rating and set a $45.00 price target on shares of Trustmark in a research report on Thursday, April 9th. Weiss Ratings raised Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, June 1st. Finally, Piper Sandler raised their price objective on Trustmark from $45.50 to $47.00 and gave the company a “neutral” rating in a research note on Thursday. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $46.12.

Check Out Our Latest Research Report on TRMK

Trustmark Stock Up 1.2%

Shares of NASDAQ TRMK opened at $48.02 on Friday. Trustmark has a one year low of $36.28 and a one year high of $48.09. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.87. The firm’s 50 day simple moving average is $45.72 and its two-hundred day simple moving average is $44.11. The stock has a market capitalization of $2.81 billion, a P/E ratio of 12.19 and a beta of 0.65.

Trustmark (NASDAQ:TRMK – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. The firm had revenue of $213.38 million for the quarter, compared to the consensus estimate of $210.30 million. Trustmark had a net margin of 20.75% and a return on equity of 10.69%. The business’s revenue was up 4.8% compared to the same quarter last year. During the same period last year, the firm posted $0.92 earnings per share. As a group, analysts expect that Trustmark will post 3.93 EPS for the current fiscal year.

Trustmark Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.00 annualized dividend and a dividend yield of 2.1%. Trustmark’s dividend payout ratio (DPR) is presently 25.38%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. North Reef Capital Management LP bought a new position in Trustmark in the 1st quarter worth $82,296,000. UBS Group AG lifted its position in shares of Trustmark by 282.0% in the 4th quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock worth $24,944,000 after purchasing an additional 472,751 shares during the period. Wellington Management Group LLP boosted its stake in shares of Trustmark by 8.9% during the 3rd quarter. Wellington Management Group LLP now owns 3,883,882 shares of the financial services provider’s stock valued at $153,802,000 after purchasing an additional 316,851 shares in the last quarter. Bridgeway Capital Management LLC boosted its stake in shares of Trustmark by 156.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 389,333 shares of the financial services provider’s stock valued at $15,165,000 after purchasing an additional 237,266 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Trustmark by 121.1% during the first quarter. Bank of America Corp DE now owns 316,772 shares of the financial services provider’s stock valued at $13,349,000 after buying an additional 173,486 shares during the period. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Trustmark Company Profile

(Get Free Report)

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.

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