Trustmark (NASDAQ:TRMK) Stock Rating Lowered by StockNews.com

Trustmark (NASDAQ:TRMK) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

A number of other equities research analysts have also weighed in on TRMK. Truist Financial lowered their price objective on Trustmark from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Friday, September 20th. DA Davidson lifted their price target on Trustmark from $34.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $34.50.

Trustmark Price Performance

Shares of NASDAQ TRMK opened at $32.05 on Wednesday. The stock has a 50 day moving average of $31.96 and a two-hundred day moving average of $30.42. Trustmark has a twelve month low of $18.96 and a twelve month high of $35.72. The stock has a market cap of $1.96 billion, a P/E ratio of 12.47 and a beta of 0.73. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.03. The company had revenue of $283.96 million for the quarter, compared to analysts’ expectations of $229.83 million. Trustmark had a net margin of 16.24% and a return on equity of 9.32%. During the same period in the previous year, the company posted $0.74 EPS. On average, research analysts forecast that Trustmark will post 2.92 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TRMK. SG Americas Securities LLC raised its position in shares of Trustmark by 338.4% in the 3rd quarter. SG Americas Securities LLC now owns 17,616 shares of the financial services provider’s stock worth $561,000 after buying an additional 13,598 shares during the period. Sanctuary Advisors LLC acquired a new stake in Trustmark during the 2nd quarter worth approximately $441,000. Magnolia Capital Advisors LLC acquired a new position in Trustmark during the second quarter valued at approximately $1,081,000. Susquehanna Fundamental Investments LLC purchased a new stake in Trustmark during the second quarter worth approximately $388,000. Finally, Earnest Partners LLC raised its stake in shares of Trustmark by 3.1% in the 2nd quarter. Earnest Partners LLC now owns 3,442,019 shares of the financial services provider’s stock valued at $103,398,000 after acquiring an additional 102,268 shares during the period. 67.64% of the stock is currently owned by institutional investors and hedge funds.

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.