Trustmark (NASDAQ:TRMK) Earns Buy Rating from Analysts at Brean Capital

by · The Markets Daily

Research analysts at Brean Capital assumed coverage on shares of Trustmark (NASDAQ:TRMK – Get Free Report) in a note issued to investors on Thursday. The brokerage set a “buy” rating on the financial services provider’s stock.

A number of other equities analysts have also issued reports on TRMK. Hovde Group raised their target price on shares of Trustmark from $42.00 to $44.50 and gave the stock a “market perform” rating in a research report on Thursday, January 29th. DA Davidson raised their price objective on shares of Trustmark from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Wall Street Zen lowered shares of Trustmark from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Trustmark in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.83.

Check Out Our Latest Research Report on Trustmark

Trustmark Stock Performance

Shares of Trustmark stock traded down $0.06 on Thursday, hitting $41.16. The stock had a trading volume of 291,619 shares, compared to its average volume of 373,148. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 11.09 and a beta of 0.68. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11. Trustmark has a 52-week low of $29.77 and a 52-week high of $45.43. The company’s 50 day moving average price is $42.34 and its 200 day moving average price is $40.38.

Trustmark (NASDAQ:TRMK – Get Free Report) last released its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. The firm had revenue of $209.44 million for the quarter, compared to the consensus estimate of $207.05 million. Trustmark had a return on equity of 10.77% and a net margin of 19.95%.During the same quarter last year, the business posted $0.92 EPS. On average, research analysts anticipate that Trustmark will post 3.42 EPS for the current year.

Institutional Trading of Trustmark

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP raised its holdings in Trustmark by 8.9% during the third quarter. Wellington Management Group LLP now owns 3,883,882 shares of the financial services provider’s stock worth $153,802,000 after purchasing an additional 316,851 shares in the last quarter. Geode Capital Management LLC increased its position in Trustmark by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 1,491,837 shares of the financial services provider’s stock worth $58,112,000 after purchasing an additional 9,198 shares during the period. UBS Group AG raised its stake in shares of Trustmark by 282.0% during the 4th quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock worth $24,944,000 after buying an additional 472,751 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Trustmark by 30.5% in the 3rd quarter. American Century Companies Inc. now owns 564,180 shares of the financial services provider’s stock valued at $22,342,000 after buying an additional 132,023 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Trustmark by 17.2% in the first quarter. Goldman Sachs Group Inc. now owns 470,756 shares of the financial services provider’s stock valued at $16,236,000 after buying an additional 69,110 shares in the last quarter. 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.

Featured Stories