Trustmark (NASDAQ:TRMK) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Trustmark (NASDAQ:TRMK) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

A number of other analysts have also recently weighed in on TRMK. Piper Sandler reaffirmed a neutral rating and issued a $29.00 price target on shares of Trustmark in a research report on Tuesday, March 26th. Keefe, Bruyette & Woods upped their price objective on Trustmark from $27.00 to $30.00 and gave the company a market perform rating in a research note on Friday, January 26th. TheStreet upgraded Trustmark from a c+ rating to a b rating in a research note on Tuesday, January 23rd. DA Davidson restated a neutral rating on shares of Trustmark in a research report on Monday, January 15th. Finally, Truist Financial upped their price objective on Trustmark from $29.00 to $30.00 and gave the stock a hold rating in a report on Monday, April 1st. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Trustmark has a consensus rating of Hold and a consensus target price of $29.67.

Trustmark Stock Performance

Shares of NASDAQ TRMK opened at $26.75 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 9.87 and a beta of 0.82. The stock’s fifty day simple moving average is $26.73 and its 200 day simple moving average is $25.36. Trustmark has a 52-week low of $18.96 and a 52-week high of $28.65.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Trustmark had a return on equity of 10.77% and a net margin of 15.06%. The business had revenue of $189.85 million for the quarter, compared to the consensus estimate of $187.63 million. During the same quarter in the previous year, the company posted $0.68 earnings per share. Trustmark’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Trustmark will post 2.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trustmark

Several hedge funds have recently bought and sold shares of TRMK. Ignite Planners LLC lifted its position in Trustmark by 924.4% during the fourth quarter. Ignite Planners LLC now owns 142,537 shares of the financial services provider’s stock worth $3,961,000 after acquiring an additional 128,623 shares during the last quarter. Trexquant Investment LP boosted its position in shares of Trustmark by 235.7% during the 3rd quarter. Trexquant Investment LP now owns 87,162 shares of the financial services provider’s stock worth $1,894,000 after acquiring an additional 61,194 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Trustmark by 28.8% during the 3rd quarter. American Century Companies Inc. now owns 372,172 shares of the financial services provider’s stock worth $8,087,000 after acquiring an additional 83,181 shares in the last quarter. MQS Management LLC acquired a new stake in shares of Trustmark during the 3rd quarter worth approximately $283,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of Trustmark by 244.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 176,036 shares of the financial services provider’s stock worth $3,825,000 after acquiring an additional 124,890 shares in the last quarter. 67.64% of the stock is currently owned by institutional investors and hedge funds.

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 operates through three segments: General Banking, Wealth Management, and Insurance. It offers checking, savings, and money market accounts; certificates of deposits and individual retirement accounts; 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, as well as treasury management services.