SunTrust Banks Cuts Trustmark (TRMK) Price Target to $31.00

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Trustmark (NASDAQ:TRMK) had its target price dropped by SunTrust Banks from $36.00 to $31.00 in a research note issued to investors on Monday. The brokerage presently has a “hold” rating on the financial services provider’s stock. SunTrust Banks’ price objective indicates a potential upside of 1.11% from the stock’s current price.

A number of other brokerages have also weighed in on TRMK. Sandler O’Neill reaffirmed a “hold” rating and set a $35.00 price objective on shares of Trustmark in a report on Thursday, July 26th. ValuEngine lowered Trustmark from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th. BidaskClub lowered Trustmark from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th. Zacks Investment Research lowered Trustmark from a “hold” rating to a “sell” rating in a report on Thursday, October 11th. Finally, Stephens set a $35.00 price objective on Trustmark and gave the stock a “hold” rating in a report on Wednesday, October 24th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. The company has a consensus rating of “Hold” and an average target price of $34.50.

Shares of TRMK stock opened at $30.66 on Monday. Trustmark has a 1-year low of $28.56 and a 1-year high of $36.32. The firm has a market cap of $1.99 billion, a P/E ratio of 15.97 and a beta of 0.97. The company has a current ratio of 0.81, a quick ratio of 0.79 and a debt-to-equity ratio of 0.04.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.03). Trustmark had a return on equity of 9.21% and a net margin of 18.99%. The business had revenue of $157.23 million for the quarter, compared to analyst estimates of $155.38 million. During the same period in the prior year, the company earned $0.51 EPS. The company’s revenue was up 2.5% on a year-over-year basis. Equities analysts predict that Trustmark will post 2.23 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of TRMK. Gradient Investments LLC acquired a new stake in Trustmark in the second quarter valued at $169,000. OppenheimerFunds Inc. acquired a new stake in shares of Trustmark during the second quarter valued at $208,000. Leavell Investment Management Inc. acquired a new stake in shares of Trustmark during the second quarter valued at $209,000. Creative Planning acquired a new stake in shares of Trustmark during the second quarter valued at $227,000. Finally, CWM LLC acquired a new stake in shares of Trustmark during the second quarter valued at $299,000. 62.16% of the stock is currently owned by institutional investors.

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 offers checking, savings, and money market accounts; individual retirement accounts; certificates of deposits; 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.

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