Raymond James upgraded shares of Trustmark (NASDAQ:TRMK) from an underperform rating to a market perform rating in a research note released on Thursday morning, BenzingaRatingsTable reports.
A number of other brokerages have also weighed in on TRMK. Keefe, Bruyette & Woods raised Trustmark from an underperform rating to a market perform rating and set a $25.00 target price for the company in a research report on Wednesday, April 1st. Zacks Investment Research upgraded shares of Trustmark from a sell rating to a hold rating in a research report on Saturday, July 4th. Finally, BidaskClub downgraded shares of Trustmark from a sell rating to a strong sell rating in a research report on Friday, July 10th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. The stock has a consensus rating of Hold and a consensus price target of $33.00.
Shares of NASDAQ TRMK opened at $22.52 on Thursday. The firm has a market cap of $1.43 billion, a P/E ratio of 11.09 and a beta of 1.09. Trustmark has a twelve month low of $20.26 and a twelve month high of $36.04. The company has a quick ratio of 0.82, a current ratio of 0.80 and a debt-to-equity ratio of 0.04. The company has a 50 day moving average of $23.32 and a 200 day moving average of $26.13.
Trustmark (NASDAQ:TRMK) last posted its earnings results on Tuesday, July 28th. The financial services provider reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.26. The business had revenue of $177.52 million during the quarter, compared to analyst estimates of $160.25 million. Trustmark had a return on equity of 8.13% and a net margin of 17.64%. During the same quarter last year, the company earned $0.65 EPS. As a group, equities analysts expect that Trustmark will post 1.39 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 4.09%. The ex-dividend date is Monday, August 31st. Trustmark’s payout ratio is currently 37.55%.
In other Trustmark news, Director Richard H. Puckett bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was bought at an average cost of $22.98 per share, for a total transaction of $114,900.00. Following the completion of the transaction, the director now owns 30,302 shares of the company’s stock, valued at approximately $696,339.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.60% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Comerica Bank lifted its position in Trustmark by 6.1% during the second quarter. Comerica Bank now owns 38,958 shares of the financial services provider’s stock valued at $894,000 after purchasing an additional 2,224 shares in the last quarter. Signaturefd LLC raised its stake in shares of Trustmark by 137.3% in the second quarter. Signaturefd LLC now owns 3,486 shares of the financial services provider’s stock worth $85,000 after buying an additional 2,017 shares during the period. State of Michigan Retirement System lifted its position in shares of Trustmark by 29.7% during the 2nd quarter. State of Michigan Retirement System now owns 23,092 shares of the financial services provider’s stock valued at $566,000 after buying an additional 5,292 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Trustmark during the 2nd quarter valued at approximately $220,000. Finally, Ziegler Capital Management LLC bought a new position in shares of Trustmark during the 2nd quarter valued at approximately $1,086,000. 63.37% of the stock is currently owned by institutional investors.
Trustmark Company Profile
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.
Recommended Story: Which market index is the best?
Receive News & Ratings for Trustmark Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trustmark and related companies with MarketBeat.com's FREE daily email newsletter.