Trustmark (NASDAQ:TRMK) Stock Rating Lowered by Wall Street Zen

Trustmark (NASDAQ:TRMK) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Other research analysts have also recently issued reports about the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, October 8th. Zacks Research lowered Trustmark from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Trustmark has a consensus rating of “Moderate Buy” and a consensus price target of $42.25.

Trustmark Stock Down 1.2%

TRMK opened at $39.23 on Friday. The stock’s fifty day simple moving average is $38.51 and its 200 day simple moving average is $37.95. Trustmark has a 1-year low of $29.77 and a 1-year high of $41.33. The stock has a market cap of $2.35 billion, a PE ratio of 10.72 and a beta of 0.71. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $0.94 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.01). The company had revenue of $207.53 million during the quarter, compared to analyst estimates of $206.13 million. Trustmark had a net margin of 19.82% and a return on equity of 10.90%. Trustmark’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 earnings per share. As a group, research analysts expect that Trustmark will post 3.42 earnings per share for the current year.

Hedge Funds Weigh In On Trustmark

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRMK. Wellington Management Group LLP lifted its position in shares of Trustmark by 34.2% during the 1st quarter. Wellington Management Group LLP now owns 3,318,799 shares of the financial services provider’s stock valued at $114,465,000 after acquiring an additional 846,238 shares during the period. Nuveen LLC bought a new stake in Trustmark during the first quarter worth about $5,697,000. Bridgeway Capital Management LLC lifted its position in Trustmark by 1,927.6% during the third quarter. Bridgeway Capital Management LLC now owns 152,067 shares of the financial services provider’s stock worth $6,022,000 after purchasing an additional 144,567 shares during the period. American Century Companies Inc. grew its stake in Trustmark by 30.5% during the third quarter. American Century Companies Inc. now owns 564,180 shares of the financial services provider’s stock worth $22,342,000 after buying an additional 132,023 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in Trustmark by 80.4% in the 3rd quarter. Bank of America Corp DE now owns 267,147 shares of the financial services provider’s stock valued at $10,579,000 after buying an additional 119,044 shares during the period. 67.64% of the stock is 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 operates through three segments: General Banking, Wealth Management, and Insurance. It offers checking, savings, and money market accounts; certificates of deposits and individual retirement accounts; 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, as well as treasury management services.