Trustmark (TRMK) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Trustmark (NASDAQ:TRMK) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

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. “

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A number of other research analysts have also issued reports on TRMK. Hovde Group set a $33.00 target price on Trustmark and gave the company a hold rating in a research report on Monday, February 5th. Stephens reiterated a hold rating and set a $34.00 target price on shares of Trustmark in a research report on Thursday, January 25th. Keefe, Bruyette & Woods reiterated a hold rating and set a $33.00 target price on shares of Trustmark in a research report on Thursday, January 25th. BidaskClub upgraded Trustmark from a sell rating to a hold rating in a research report on Thursday, January 11th. Finally, SunTrust Banks decreased their target price on Trustmark to $33.00 and set an average rating on the stock in a research report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Trustmark currently has an average rating of Hold and a consensus target price of $34.50.

Shares of NASDAQ:TRMK opened at $31.16 on Wednesday. Trustmark has a 1 year low of $28.16 and a 1 year high of $35.09. The company has a market cap of $2,130.69, a PE ratio of 16.23 and a beta of 1.08. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.77.

Trustmark (NASDAQ:TRMK) last announced its earnings results on Tuesday, January 23rd. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.48. Trustmark had a return on equity of 8.35% and a net margin of 16.15%. The firm had revenue of $153.06 million for the quarter, compared to analyst estimates of $152.80 million. During the same quarter last year, the firm posted $0.43 EPS. sell-side analysts expect that Trustmark will post 2.15 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st were issued a $0.23 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.92 dividend on an annualized basis and a yield of 2.95%. Trustmark’s payout ratio is currently 47.92%.

A number of hedge funds have recently made changes to their positions in the business. Xact Kapitalforvaltning AB purchased a new position in Trustmark in the 4th quarter valued at $257,000. MetLife Investment Advisors LLC purchased a new position in Trustmark in the 4th quarter valued at $2,359,000. Jane Street Group LLC lifted its holdings in Trustmark by 27.3% in the 4th quarter. Jane Street Group LLC now owns 10,529 shares of the financial services provider’s stock valued at $335,000 after purchasing an additional 2,255 shares in the last quarter. Verition Fund Management LLC purchased a new position in Trustmark in the 4th quarter valued at $295,000. Finally, LPL Financial LLC lifted its holdings in Trustmark by 34.7% in the 4th quarter. LPL Financial LLC now owns 10,579 shares of the financial services provider’s stock valued at $337,000 after purchasing an additional 2,727 shares in the last quarter. Institutional investors own 63.19% of the company’s stock.

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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 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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