ValuEngine Lowers Trustmark Corporation (NASDAQ:TRMK) to Hold

ValuEngine cut shares of Trustmark Corporation (NASDAQ:TRMK) from a buy rating to a hold rating in a research report report published on Thursday, November 9th.

A number of other equities analysts have also recently commented on the company. Stephens set a $35.00 target price on Trustmark Corporation and gave the company a hold rating in a report on Wednesday, July 26th. BidaskClub cut Trustmark Corporation from a sell rating to a strong sell rating in a report on Saturday, August 5th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $34.00 price target on shares of Trustmark Corporation in a report on Thursday, October 26th. Zacks Investment Research upgraded Trustmark Corporation from a hold rating to a buy rating and set a $34.00 price objective for the company in a research report on Wednesday, September 20th. Finally, Jefferies Group LLC reiterated a hold rating and issued a $36.00 price objective on shares of Trustmark Corporation in a research report on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Trustmark Corporation has an average rating of Hold and an average price target of $34.40.

Trustmark Corporation (NASDAQ:TRMK) traded up $0.08 during trading on Thursday, reaching $32.94. The company’s stock had a trading volume of 186,900 shares, compared to its average volume of 291,748. Trustmark Corporation has a twelve month low of $28.16 and a twelve month high of $36.79. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2,226.01, a P/E ratio of 17.48 and a beta of 1.16.

Trustmark Corporation (NASDAQ:TRMK) last issued its earnings results on Tuesday, October 24th. The financial services provider reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The firm had revenue of $153.37 million for the quarter, compared to the consensus estimate of $154.40 million. Trustmark Corporation had a return on equity of 8.21% and a net margin of 18.56%. During the same quarter in the prior year, the business earned $0.47 earnings per share. analysts expect that Trustmark Corporation will post 1.91 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Thursday, November 30th. Trustmark Corporation’s dividend payout ratio is presently 52.57%.

Institutional investors have recently bought and sold shares of the business. Earnest Partners LLC increased its position in shares of Trustmark Corporation 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 purchasing an additional 292,290 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Trustmark Corporation by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 5,509,048 shares of the financial services provider’s stock valued at $175,133,000 after purchasing an additional 286,219 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Trustmark Corporation by 3.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,033,036 shares of the financial services provider’s stock valued at $161,864,000 after purchasing an additional 189,873 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Trustmark Corporation by 49.1% in the 1st quarter. Renaissance Technologies LLC now owns 363,904 shares of the financial services provider’s stock valued at $11,569,000 after purchasing an additional 119,904 shares in the last quarter. Finally, State of Tennessee Treasury Department purchased a new stake in Trustmark Corporation in the 2nd quarter valued at approximately $3,216,000. Institutional investors own 62.67% of the company’s stock.

About Trustmark Corporation

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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