Trustmark (TRMK) – Research Analysts’ Weekly Ratings Updates

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Trustmark (NASDAQ: TRMK) has recently received a number of price target changes and ratings updates:

  • 9/19/2019 – Trustmark was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “
  • 9/18/2019 – Trustmark was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $39.00 price target on the stock. 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. “
  • 9/12/2019 – Trustmark was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 9/12/2019 – Trustmark was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “
  • 9/11/2019 – Trustmark was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $37.00 price target on the stock. 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. “
  • 8/31/2019 – Trustmark was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “
  • 8/30/2019 – Trustmark was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 8/29/2019 – Trustmark was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $36.00 price target on the stock. 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. “
  • 8/22/2019 – Trustmark was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “
  • 7/27/2019 – Trustmark was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 7/27/2019 – Trustmark was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. 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. “

NASDAQ TRMK traded down $0.21 on Thursday, hitting $34.21. The company’s stock had a trading volume of 15,457 shares, compared to its average volume of 220,909. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 0.04. Trustmark Corp has a 1-year low of $26.84 and a 1-year high of $36.63. The company’s 50-day moving average is $33.72 and its 200 day moving average is $33.77. The firm has a market cap of $2.25 billion, a PE ratio of 15.48 and a beta of 1.10.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.08. Trustmark had a net margin of 21.20% and a return on equity of 9.28%. The firm had revenue of $157.40 million during the quarter, compared to analysts’ expectations of $156.35 million. During the same period in the prior year, the company posted $0.59 EPS. On average, equities analysts expect that Trustmark Corp will post 2.35 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date was Thursday, August 29th. Trustmark’s dividend payout ratio is currently 41.63%.

In other news, insider Breck W. Tyler sold 19,398 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $33.70, for a total value of $653,712.60. Following the sale, the insider now directly owns 23,656 shares of the company’s stock, valued at approximately $797,207.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.50% of the company’s stock.

Large investors have recently bought and sold shares of the company. GYL Financial Synergies LLC bought a new stake in shares of Trustmark in the 1st quarter valued at $608,000. Steward Partners Investment Advisory LLC bought a new position in Trustmark during the second quarter worth $49,000. Laurion Capital Management LP bought a new position in Trustmark during the second quarter worth $512,000. First Midwest Bank Trust Division boosted its stake in Trustmark by 123.4% during the second quarter. First Midwest Bank Trust Division now owns 14,852 shares of the financial services provider’s stock worth $494,000 after acquiring an additional 8,205 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Trustmark by 17.6% during the second quarter. Russell Investments Group Ltd. now owns 115,579 shares of the financial services provider’s stock worth $3,810,000 after acquiring an additional 17,275 shares in the last quarter. 66.67% of the stock is currently owned by institutional investors.

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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