Trustmark (TRMK) Downgraded by Zacks Investment Research

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Zacks Investment Research lowered shares of Trustmark (NASDAQ:TRMK) from a hold rating to a sell rating in a report published on Thursday.

According to Zacks, “Trustmark Corporation is a multi-bank holding company. Its primary business activities are conducted through its wholly-owned subsidiary, Trustmark National Bank and Trustmark National Bank’s wholly-owned nonbanking subsidiaries, Trustmark Financial Services, Inc. and Trustmark Insurance Agency, Inc. Trustmark National Bank accounts for substantially all of the assets and revenues of the company. “

TRMK has been the topic of a number of other research reports. BidaskClub upgraded shares of Trustmark from a sell rating to a hold rating in a report on Friday, January 25th. Stephens set a $32.00 price target on shares of Trustmark and gave the company a hold rating in a report on Friday, January 25th. Finally, Raymond James lowered shares of Trustmark from a market perform rating to an underperform rating in a report on Monday, January 7th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Trustmark currently has a consensus rating of Hold and an average price target of $34.20.

Shares of TRMK opened at $34.57 on Thursday. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 15.64 and a beta of 1.08. Trustmark has a fifty-two week low of $26.84 and a fifty-two week high of $36.32. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.04.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Wednesday, January 23rd. The financial services provider reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. The company had revenue of $151.97 million for the quarter, compared to analyst estimates of $152.00 million. Trustmark had a net margin of 21.89% and a return on equity of 9.43%. During the same quarter last year, the business earned $0.48 EPS. Sell-side analysts forecast that Trustmark will post 2.22 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend was Thursday, February 28th. Trustmark’s dividend payout ratio is presently 41.63%.

In other news, insider Harry M. Walker sold 1,880 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $35.57, for a total value of $66,871.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Charles Scott Woods sold 2,500 shares of the firm’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $31.50, for a total transaction of $78,750.00. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Several hedge funds have recently modified their holdings of TRMK. Advisor Group Inc. increased its stake in Trustmark by 14.3% during the 4th quarter. Advisor Group Inc. now owns 3,005 shares of the financial services provider’s stock worth $86,000 after buying an additional 377 shares during the period. Rehmann Capital Advisory Group increased its stake in Trustmark by 101.4% during the 4th quarter. Rehmann Capital Advisory Group now owns 1,025 shares of the financial services provider’s stock worth $29,000 after buying an additional 516 shares during the period. Captrust Financial Advisors increased its stake in Trustmark by 160.7% during the 4th quarter. Captrust Financial Advisors now owns 863 shares of the financial services provider’s stock worth $25,000 after buying an additional 532 shares during the period. Strs Ohio increased its stake in Trustmark by 200.0% during the 4th quarter. Strs Ohio now owns 900 shares of the financial services provider’s stock worth $25,000 after buying an additional 600 shares during the period. Finally, Comerica Bank increased its stake in Trustmark by 1.9% during the 4th quarter. Comerica Bank now owns 43,568 shares of the financial services provider’s stock worth $1,362,000 after buying an additional 813 shares during the period. 64.77% 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 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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