Trustmark Corporation (TRMK) Downgraded by Zacks Investment Research
Trustmark Corporation (NASDAQ:TRMK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued 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. “
A number of other equities analysts have also recently issued reports on TRMK. Stephens set a $34.00 price objective on Trustmark Corporation and gave the stock a “hold” rating in a report on Monday, August 7th. ValuEngine cut Trustmark Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Jefferies Group LLC reiterated a “hold” rating and issued a $35.00 price objective on shares of Trustmark Corporation in a report on Friday, June 9th. Finally, BidaskClub cut Trustmark Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Trustmark Corporation has an average rating of “Hold” and a consensus price target of $34.00.
Trustmark Corporation (NASDAQ:TRMK) traded down 3.09% during mid-day trading on Thursday, reaching $28.18. The company had a trading volume of 99,263 shares. The stock has a 50 day moving average price of $30.80 and a 200-day moving average price of $31.82. The stock has a market capitalization of $1.91 billion, a P/E ratio of 16.60 and a beta of 1.15. Trustmark Corporation has a 12-month low of $26.81 and a 12-month high of $36.79.
Trustmark Corporation (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.03. Trustmark Corporation had a return on equity of 8.04% and a net margin of 18.35%. The firm had revenue of $157.10 million during the quarter, compared to analysts’ expectations of $152.57 million. During the same period in the prior year, the business earned $0.40 EPS. Equities analysts anticipate that Trustmark Corporation will post $1.75 EPS for the current fiscal year.
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In related news, insider Charles Scott Woods sold 1,000 shares of the stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $32.00, for a total transaction of $32,000.00. Following the completion of the sale, the insider now directly owns 13,344 shares in the company, valued at approximately $427,008. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.37% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. State Treasurer State of Michigan boosted its holdings in Trustmark Corporation by 1.1% during the 1st quarter. State Treasurer State of Michigan now owns 27,500 shares of the financial services provider’s stock valued at $874,000 after acquiring an additional 300 shares during the period. Creative Planning boosted its holdings in Trustmark Corporation by 1.7% during the 1st quarter. Creative Planning now owns 3,464 shares of the financial services provider’s stock valued at $110,000 after acquiring an additional 59 shares during the period. Bank of New York Mellon Corp boosted its holdings in Trustmark Corporation by 31.5% during the 1st quarter. Bank of New York Mellon Corp now owns 1,190,151 shares of the financial services provider’s stock valued at $37,835,000 after acquiring an additional 285,369 shares during the period. Trexquant Investment LP boosted its holdings in Trustmark Corporation by 103.2% during the 1st quarter. Trexquant Investment LP now owns 16,258 shares of the financial services provider’s stock valued at $517,000 after acquiring an additional 8,258 shares during the period. Finally, Stifel Financial Corp boosted its holdings in Trustmark Corporation by 9.3% during the 1st quarter. Stifel Financial Corp now owns 19,741 shares of the financial services provider’s stock valued at $628,000 after acquiring an additional 1,683 shares during the period. Institutional investors own 62.36% of the company’s stock.
About Trustmark Corporation
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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