Trustmark Corporation (TRMK) Lifted to “Buy” at Zacks Investment Research
Trustmark Corporation (NASDAQ:TRMK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The brokerage presently has a $33.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 15.06% from the stock’s previous close.
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 subject of a number of other reports. ValuEngine raised Trustmark Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Hovde Group lowered Trustmark Corporation from an “outperform” rating to a “market perform” rating and set a $34.00 price objective for the company. in a report on Friday, June 23rd. BidaskClub lowered Trustmark Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $35.00 price objective on shares of Trustmark Corporation in a report on Friday, June 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $33.40.
Trustmark Corporation (NASDAQ TRMK) traded up 1.13% on Friday, reaching $28.68. The company’s stock had a trading volume of 165,653 shares. The firm’s 50-day moving average price is $30.59 and its 200 day moving average price is $31.78. Trustmark Corporation has a 52-week low of $26.81 and a 52-week high of $36.79. The company has a market cap of $1.94 billion, a P/E ratio of 16.89 and a beta of 1.15.
Trustmark Corporation (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.03. The business had revenue of $157.10 million for the quarter, compared to the consensus estimate of $152.57 million. Trustmark Corporation had a return on equity of 8.04% and a net margin of 18.35%. 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 other Trustmark Corporation news, insider Charles Scott Woods sold 1,000 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $427,008. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.37% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in TRMK. Flinton Capital Management LLC grew its holdings in shares of Trustmark Corporation by 14.1% in the first quarter. Flinton Capital Management LLC now owns 3,232 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Trustmark Corporation by 9.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,333 shares of the financial services provider’s stock valued at $107,000 after acquiring an additional 296 shares in the last quarter. Creative Planning grew its holdings in shares of Trustmark Corporation by 1.7% in the first 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 in the last quarter. Meadow Creek Investment Management LLC grew its holdings in shares of Trustmark Corporation by 14.1% in the first quarter. Meadow Creek Investment Management LLC now owns 4,444 shares of the financial services provider’s stock valued at $141,000 after acquiring an additional 550 shares in the last quarter. Finally, Integrated Investment Consultants LLC grew its holdings in shares of Trustmark Corporation by 13.8% in the second quarter. Integrated Investment Consultants LLC now owns 4,925 shares of the financial services provider’s stock valued at $158,000 after acquiring an additional 598 shares in the last quarter. 62.36% of the stock is owned by institutional investors.
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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