Trustmark (NASDAQ:TRMK) Downgraded to “Hold” at Zacks Investment Research

Trustmark (NASDAQ:TRMK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports.

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. “

Separately, BidaskClub raised Trustmark from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 12th. Three research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Trustmark has an average rating of “Hold” and a consensus target price of $34.00.

NASDAQ TRMK traded up $0.07 on Thursday, reaching $34.49. 34,481 shares of the company were exchanged, compared to its average volume of 220,909. The business’s fifty day moving average price is $33.72 and its 200 day moving average price is $33.77. The stock has a market capitalization of $2.25 billion, a P/E ratio of 15.61 and a beta of 1.10. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 0.04. Trustmark has a fifty-two week low of $26.84 and a fifty-two week high of $36.63.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.08. The company had revenue of $157.40 million for the quarter, compared to analyst estimates of $156.35 million. Trustmark had a return on equity of 9.28% and a net margin of 21.20%. During the same quarter in the previous year, the company posted $0.59 earnings per share. Equities research analysts forecast that Trustmark will post 2.35 earnings per share for the current year.

In related news, insider Breck W. Tyler sold 19,398 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $33.70, for a total transaction of $653,712.60. Following the transaction, the insider now owns 23,656 shares of the company’s stock, valued at approximately $797,207.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Bremer Bank National Association bought a new stake in shares of Trustmark in the first quarter valued at about $36,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Trustmark during the second quarter worth approximately $49,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of Trustmark during the first quarter worth approximately $58,000. Parallel Advisors LLC increased its holdings in shares of Trustmark by 41.5% during the second quarter. Parallel Advisors LLC now owns 5,476 shares of the financial services provider’s stock worth $182,000 after buying an additional 1,607 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Trustmark during the second quarter worth approximately $201,000. Hedge funds and other institutional investors own 66.67% 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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