StockNews.com Upgrades Trustmark (NASDAQ:TRMK) to Hold

Trustmark (NASDAQ:TRMK) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

Several other equities research analysts also recently issued reports on the company. DA Davidson lifted their price objective on Trustmark from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Truist Financial decreased their price objective on shares of Trustmark from $37.00 to $35.00 and set a “hold” rating for the company in a report on Friday, September 20th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $34.50.

Trustmark Price Performance

TRMK stock opened at $30.94 on Tuesday. The stock has a 50-day moving average price of $32.34 and a two-hundred day moving average price of $30.21. Trustmark has a 12-month low of $18.96 and a 12-month high of $35.72. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.89 billion, a PE ratio of 12.04 and a beta of 0.74.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 9.32% and a net margin of 16.24%. During the same quarter in the previous year, the firm posted $0.74 earnings per share. As a group, research analysts predict that Trustmark will post 2.92 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in Trustmark by 62.1% during the 2nd quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 351 shares during the period. EntryPoint Capital LLC acquired a new position in Trustmark during the 1st quarter worth $52,000. Innealta Capital LLC acquired a new position in Trustmark during the 2nd quarter worth $61,000. CWM LLC boosted its position in Trustmark by 14.6% during the 2nd quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock worth $144,000 after acquiring an additional 611 shares during the period. Finally, ZWJ Investment Counsel Inc. acquired a new position in Trustmark during the 2nd quarter worth $238,000. 67.64% of the stock is currently owned by institutional investors.

About Trustmark

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.