Zacks Investment Research upgraded shares of Trustmark (NASDAQ:TRMK) from a hold rating to a buy rating in a research report released on Saturday, January 13th. The brokerage currently has $38.00 price objective on the financial services provider’s stock.
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. “
A number of other brokerages also recently weighed in on TRMK. Jefferies Group reaffirmed a hold rating and set a $36.00 price objective on shares of Trustmark in a research report on Thursday, October 12th. Keefe, Bruyette & Woods reiterated a hold rating and issued a $34.00 price target on shares of Trustmark in a research note on Thursday, October 26th. BidaskClub upgraded Trustmark from a sell rating to a hold rating in a research note on Friday, December 22nd. ValuEngine upgraded Trustmark from a hold rating to a buy rating in a research note on Saturday, September 30th. Finally, SunTrust Banks restated a hold rating and issued a $38.00 price objective on shares of Trustmark in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $34.67.
Trustmark (NASDAQ TRMK) traded down $0.32 during trading hours on Friday, reaching $31.89. The company had a trading volume of 214,563 shares, compared to its average volume of 275,159. The stock has a market cap of $2,160.42, a price-to-earnings ratio of 20.57 and a beta of 1.11. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.04. Trustmark has a one year low of $28.16 and a one year high of $35.09.
Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.48 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.48. Trustmark had a return on equity of 8.35% and a net margin of 16.15%. The company had revenue of $153.06 million for the quarter, compared to the consensus estimate of $152.80 million. During the same quarter in the prior year, the company posted $0.43 EPS. analysts anticipate that Trustmark will post 2.16 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Wednesday, February 28th. Trustmark’s dividend payout ratio is presently 59.35%.
A number of institutional investors have recently made changes to their positions in TRMK. Earnest Partners LLC lifted its position in Trustmark by 16.9% during the second quarter. Earnest Partners LLC now owns 2,026,880 shares of the financial services provider’s stock worth $65,184,000 after buying an additional 292,290 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Trustmark by 3.9% during the second quarter. Dimensional Fund Advisors LP now owns 5,033,036 shares of the financial services provider’s stock worth $161,864,000 after buying an additional 189,873 shares in the last quarter. Vanguard Group Inc. lifted its position in Trustmark by 2.1% during the second quarter. Vanguard Group Inc. now owns 5,625,905 shares of the financial services provider’s stock worth $180,929,000 after buying an additional 116,857 shares in the last quarter. Wells Fargo & Company MN lifted its position in Trustmark by 3.0% during the third quarter. Wells Fargo & Company MN now owns 2,321,125 shares of the financial services provider’s stock worth $76,875,000 after buying an additional 67,258 shares in the last quarter. Finally, 361 Capital LLC purchased a new position in Trustmark during the third quarter worth approximately $2,093,000. Hedge funds and other institutional investors own 62.56% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Trustmark (NASDAQ:TRMK) Upgraded to “Buy” at Zacks Investment Research” was reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece on another domain, it was copied illegally and republished in violation of United States & international copyright & trademark law. The correct version of this piece can be accessed at https://www.dispatchtribunal.com/2018/02/04/trustmark-trmk-raised-to-buy-at-zacks-investment-research.html.
Trustmark Company Profile
Trustmark Corporation is a bank holding company. The Company’s principal subsidiary is Trustmark National Bank (TNB). Through TNB and its subsidiaries, the Company operates as a financial services company providing banking and other financial solutions. It operates through three segments: General Banking, Wealth Management and Insurance.
Get a free copy of the Zacks research report on Trustmark (TRMK)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Trustmark Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trustmark and related companies with MarketBeat.com's FREE daily email newsletter.