BidaskClub upgraded shares of Trustmark (NASDAQ:TRMK) from a sell rating to a hold rating in a report issued on Tuesday.
TRMK has been the topic of several other reports. Hovde Group set a $35.00 price objective on Trustmark and gave the company a hold rating in a research note on Saturday, July 28th. Stephens set a $35.00 price objective on Trustmark and gave the company a hold rating in a research note on Wednesday, October 24th. SunTrust Banks reduced their price objective on Trustmark from $36.00 to $31.00 and set a hold rating on the stock in a research note on Monday, October 29th. ValuEngine raised Trustmark from a sell rating to a hold rating in a research note on Tuesday. Finally, Zacks Investment Research lowered Trustmark from a hold rating to a sell rating in a research note on Thursday, October 11th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. The company currently has a consensus rating of Hold and an average target price of $34.50.
NASDAQ TRMK opened at $31.40 on Tuesday. The stock has a market capitalization of $2.07 billion, a PE ratio of 16.35 and a beta of 0.97. Trustmark has a 1-year low of $28.56 and a 1-year high of $36.32. The company has a current ratio of 0.81, a quick ratio of 0.79 and a debt-to-equity ratio of 0.04.
Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.03). The firm had revenue of $157.23 million during the quarter, compared to analyst estimates of $155.38 million. Trustmark had a net margin of 18.99% and a return on equity of 9.21%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 earnings per share. Sell-side analysts expect that Trustmark will post 2.22 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, December 15th. Investors of record on Saturday, December 1st will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.93%. The ex-dividend date is Thursday, November 29th. Trustmark’s dividend payout ratio (DPR) is presently 47.92%.
A number of institutional investors have recently added to or reduced their stakes in TRMK. Principal Financial Group Inc. lifted its position in Trustmark by 1.8% during the 1st quarter. Principal Financial Group Inc. now owns 294,216 shares of the financial services provider’s stock worth $9,168,000 after acquiring an additional 5,118 shares in the last quarter. LPL Financial LLC lifted its position in Trustmark by 17.0% during the 1st quarter. LPL Financial LLC now owns 12,378 shares of the financial services provider’s stock worth $386,000 after acquiring an additional 1,799 shares in the last quarter. Millennium Management LLC lifted its position in Trustmark by 175.9% during the 1st quarter. Millennium Management LLC now owns 50,698 shares of the financial services provider’s stock worth $1,580,000 after acquiring an additional 32,322 shares in the last quarter. Legal & General Group Plc lifted its position in Trustmark by 12.5% during the 1st quarter. Legal & General Group Plc now owns 99,700 shares of the financial services provider’s stock worth $3,107,000 after acquiring an additional 11,112 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in Trustmark by 35.9% during the 1st quarter. Royal Bank of Canada now owns 16,757 shares of the financial services provider’s stock worth $522,000 after acquiring an additional 4,427 shares in the last quarter. 62.16% of the stock is currently owned by hedge funds and other institutional investors.
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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