Zacks Investment Research downgraded shares of Trustmark (NASDAQ:TRMK) from a hold rating to a sell rating in a research note released on Tuesday morning, Zacks.com reports.
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. “
A number of other equities research analysts have also weighed in on the stock. ValuEngine raised shares of Trustmark from a sell rating to a hold rating in a research note on Monday, November 4th. BidaskClub lowered shares of Trustmark from a sell rating to a strong sell rating in a research note on Friday, December 27th. Four investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock has an average rating of Sell and a consensus price target of $35.25.
Trustmark (NASDAQ:TRMK) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The firm had revenue of $160.05 million for the quarter, compared to analyst estimates of $160.21 million. Trustmark had a net margin of 21.68% and a return on equity of 9.51%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.54 EPS. As a group, sell-side analysts expect that Trustmark will post 2.37 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date was Wednesday, November 27th. Trustmark’s payout ratio is 41.63%.
Several institutional investors and hedge funds have recently made changes to their positions in TRMK. Strs Ohio lifted its position in Trustmark by 45.5% during the 3rd quarter. Strs Ohio now owns 1,600 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 500 shares during the period. Dupont Capital Management Corp lifted its position in Trustmark by 10.3% during the 3rd quarter. Dupont Capital Management Corp now owns 3,634 shares of the financial services provider’s stock valued at $124,000 after acquiring an additional 338 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Trustmark during the 2nd quarter valued at about $201,000. Gofen & Glossberg LLC IL purchased a new position in Trustmark during the 3rd quarter valued at about $205,000. Finally, Aptus Capital Advisors LLC purchased a new position in Trustmark during the 2nd quarter valued at about $259,000. 66.70% of the stock is currently owned by hedge funds and other 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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