Trustmark (TRMK) Rating Lowered to Sell at BidaskClub

Trustmark (NASDAQ:TRMK) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

Several other brokerages also recently issued reports on TRMK. Zacks Investment Research downgraded Trustmark from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. ValuEngine upgraded Trustmark from a “hold” rating to a “buy” rating in a research report on Saturday, September 30th. Jefferies Group reiterated a “hold” rating and set a $36.00 price objective on shares of Trustmark in a research report on Thursday, October 12th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $34.00 price objective on shares of Trustmark in a research report on Thursday, October 26th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Trustmark presently has a consensus rating of “Hold” and a consensus target price of $34.40.

Shares of Trustmark (NASDAQ TRMK) traded up $0.91 during mid-day trading on Thursday, reaching $33.06. The company’s stock had a trading volume of 1,230,000 shares, compared to its average volume of 241,585. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.74 and a current ratio of 0.76. Trustmark has a 12 month low of $28.16 and a 12 month high of $36.58. The firm has a market capitalization of $2,300.00, a P/E ratio of 17.10 and a beta of 1.15.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, October 24th. The financial services provider reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.03. Trustmark had a return on equity of 8.21% and a net margin of 18.56%. The company had revenue of $153.37 million during the quarter, compared to the consensus estimate of $154.40 million. During the same period in the previous year, the firm posted $0.47 earnings per share. analysts anticipate that Trustmark will post 1.92 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in shares of Trustmark during the second quarter worth approximately $1,594,000. Zurich Insurance Group Ltd FI acquired a new stake in Trustmark in the second quarter worth approximately $946,000. Northwestern Mutual Wealth Management Co. lifted its position in Trustmark by 1,529.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,513 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 7,052 shares during the period. Sciencast Management LP acquired a new stake in Trustmark in the second quarter worth approximately $264,000. Finally, Susquehanna International Group LLP lifted its position in Trustmark by 23.3% in the second quarter. Susquehanna International Group LLP now owns 67,457 shares of the financial services provider’s stock worth $2,170,000 after purchasing an additional 12,757 shares during the period. Institutional investors and hedge funds own 62.54% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Trustmark (TRMK) Rating Lowered to Sell at BidaskClub” was posted by Week Herald and is the property of of Week Herald. If you are accessing this piece of content on another domain, it was illegally stolen and reposted in violation of international copyright legislation. The correct version of this piece of content can be viewed at https://weekherald.com/2017/12/16/trustmark-trmk-rating-lowered-to-sell-at-bidaskclub.html.

About Trustmark

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.

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.

Leave a Reply