Trustmark (NASDAQ:TRMK) Upgraded to “Buy” at Zacks Investment Research

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.

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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.

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