Trustmark (NASDAQ:TRMK) Upgraded to Hold by StockNews.com

Trustmark (NASDAQ:TRMK) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Friday.

Several other brokerages have also recently issued reports on TRMK. Truist Financial increased their price objective on Trustmark from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, April 1st. Keefe, Bruyette & Woods increased their price target on Trustmark from $27.00 to $30.00 and gave the company a “market perform” rating in a research note on Friday, January 26th. TheStreet raised shares of Trustmark from a “c+” rating to a “b” rating in a research report on Tuesday, January 23rd. Piper Sandler restated a “neutral” rating and set a $29.00 price target on shares of Trustmark in a research note on Tuesday, March 26th. Finally, DA Davidson reiterated a “neutral” rating on shares of Trustmark in a research note on Monday, January 15th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $29.67.

Trustmark Stock Up 1.1 %

Shares of TRMK opened at $25.73 on Friday. The firm has a fifty day moving average price of $26.74 and a 200-day moving average price of $25.27. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $1.57 billion, a P/E ratio of 9.49 and a beta of 0.82. Trustmark has a 12-month low of $18.96 and a 12-month high of $28.65.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. The company had revenue of $189.85 million during the quarter, compared to analysts’ expectations of $187.63 million. Trustmark had a net margin of 15.06% and a return on equity of 10.77%. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 EPS. Equities research analysts expect that Trustmark will post 2.44 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new stake in Trustmark during the 3rd quarter worth about $28,000. Coppell Advisory Solutions Corp. acquired a new stake in Trustmark during the fourth quarter worth about $43,000. Tower Research Capital LLC TRC raised its position in Trustmark by 208.2% during the first quarter. Tower Research Capital LLC TRC now owns 2,795 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 1,888 shares in the last quarter. Point72 Middle East FZE acquired a new position in Trustmark in the fourth quarter valued at approximately $82,000. Finally, Arlington Trust Co LLC acquired a new position in Trustmark in the fourth quarter valued at approximately $84,000. Hedge funds and other institutional investors own 67.64% of the company’s stock.

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 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.