Trustmark Corporation (TRMK) Cut to Hold at ValuEngine

Trustmark Corporation (NASDAQ:TRMK) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Thursday, July 13th.

Several other equities research analysts have also recently issued reports on the company. Stephens reaffirmed a “hold” rating on shares of Trustmark Corporation in a report on Wednesday, April 26th. Zacks Investment Research raised Trustmark Corporation from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Tuesday, April 4th. Hovde Group cut Trustmark Corporation from an “outperform” rating to a “market perform” rating and set a $34.00 target price on the stock. in a report on Friday, June 23rd. BidaskClub raised Trustmark Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $35.00 target price on shares of Trustmark Corporation in a report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Trustmark Corporation has an average rating of “Hold” and an average price target of $34.00.

Trustmark Corporation (NASDAQ:TRMK) opened at 31.56 on Thursday. The stock has a 50 day moving average price of $32.17 and a 200-day moving average price of $32.38. Trustmark Corporation has a 12-month low of $25.56 and a 12-month high of $36.79. The stock has a market capitalization of $2.14 billion, a PE ratio of 18.59 and a beta of 1.13.

Trustmark Corporation (NASDAQ:TRMK) last issued its earnings results on Tuesday, July 25th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.03. Trustmark Corporation had a return on equity of 8.04% and a net margin of 18.35%. The firm had revenue of $157.10 million for the quarter, compared to analysts’ expectations of $152.57 million. During the same period in the previous year, the firm posted $0.40 earnings per share. On average, equities analysts anticipate that Trustmark Corporation will post $1.75 earnings per share for the current fiscal year.

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In related news, insider Duane A. Dewey sold 5,748 shares of Trustmark Corporation stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $30.85, for a total value of $177,325.80. Following the completion of the transaction, the insider now owns 27,909 shares in the company, valued at $860,992.65. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charles Scott Woods sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $32.00, for a total value of $32,000.00. Following the transaction, the insider now owns 13,344 shares of the company’s stock, valued at approximately $427,008. The disclosure for this sale can be found here. Company insiders own 1.37% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in TRMK. Bank of Montreal Can raised its position in shares of Trustmark Corporation by 0.3% in the first quarter. Bank of Montreal Can now owns 5,759 shares of the financial services provider’s stock valued at $182,000 after buying an additional 20 shares during the period. First Midwest Bank Trust Division raised its position in shares of Trustmark Corporation by 0.4% in the second quarter. First Midwest Bank Trust Division now owns 13,410 shares of the financial services provider’s stock valued at $432,000 after buying an additional 55 shares during the period. Creative Planning raised its position in shares of Trustmark Corporation by 1.7% in the first quarter. Creative Planning now owns 3,464 shares of the financial services provider’s stock valued at $110,000 after buying an additional 59 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of Trustmark Corporation by 0.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 6,592 shares of the financial services provider’s stock valued at $210,000 after buying an additional 61 shares during the period. Finally, Somerset Trust Co raised its position in shares of Trustmark Corporation by 0.5% in the second quarter. Somerset Trust Co now owns 14,894 shares of the financial services provider’s stock valued at $479,000 after buying an additional 69 shares during the period. Institutional investors and hedge funds own 62.32% of the company’s stock.

Trustmark Corporation 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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