StockNews.com Lowers Trustmark (NASDAQ:TRMK) to Sell

StockNews.com lowered shares of Trustmark (NASDAQ:TRMK) from a hold rating to a sell rating in a report released on Wednesday.

Other equities research analysts also recently issued research reports about the company. Truist Financial dropped their target price on Trustmark from $37.00 to $35.00 and set a hold rating on the stock in a research report on Friday, September 20th. DA Davidson increased their target price on Trustmark from $34.00 to $38.00 and gave the stock a neutral rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Trustmark currently has an average rating of Hold and an average price target of $34.50.

Trustmark Trading Up 2.8 %

NASDAQ:TRMK opened at $32.96 on Wednesday. The company has a market cap of $2.02 billion, a P/E ratio of 12.82 and a beta of 0.73. The stock’s fifty day moving average price is $31.98 and its two-hundred day moving average price is $30.46. Trustmark has a 1 year low of $18.96 and a 1 year high of $35.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.87 and a quick ratio of 0.86.

Trustmark (NASDAQ:TRMK) last posted its earnings results on Tuesday, July 23rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.03. The firm had revenue of $283.96 million for the quarter, compared to the consensus estimate of $229.83 million. Trustmark had a return on equity of 9.32% and a net margin of 16.24%. During the same quarter in the prior year, the business posted $0.74 earnings per share. As a group, analysts expect that Trustmark will post 2.92 EPS for the current year.

Trustmark Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were issued a $0.23 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.79%. Trustmark’s payout ratio is currently 35.80%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in Trustmark by 62.1% in the second quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 351 shares during the last quarter. EntryPoint Capital LLC bought a new position in Trustmark in the first quarter valued at $52,000. Innealta Capital LLC bought a new position in Trustmark in the second quarter valued at $61,000. CWM LLC increased its stake in Trustmark by 14.6% in the second quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock valued at $144,000 after acquiring an additional 611 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. bought a new position in Trustmark in the second quarter valued at $238,000. Institutional investors own 67.64% of the company’s stock.

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.