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.
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.
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.
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