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

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

TRMK has been the topic of a number of other reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Trustmark in a research note on Wednesday, October 8th. Zacks Research downgraded Trustmark from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.25.

Trustmark Price Performance

Shares of TRMK stock opened at $41.31 on Friday. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of 11.29 and a beta of 0.69. Trustmark has a 12 month low of $29.77 and a 12 month high of $41.50. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The stock has a 50-day moving average price of $39.54 and a 200 day moving average price of $39.07.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, October 28th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.01). Trustmark had a net margin of 19.82% and a return on equity of 10.90%. The business had revenue of $207.53 million during the quarter, compared to the consensus estimate of $206.13 million. During the same period last year, the business posted $0.84 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. Research analysts expect that Trustmark will post 3.42 EPS for the current year.

Institutional Trading of Trustmark

Large investors have recently made changes to their positions in the company. IFP Advisors Inc raised its stake in Trustmark by 24.1% during the 3rd quarter. IFP Advisors Inc now owns 1,375 shares of the financial services provider’s stock worth $54,000 after buying an additional 267 shares during the period. Wedge Capital Management L L P NC raised its position in shares of Trustmark by 0.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 29,552 shares of the financial services provider’s stock worth $1,151,000 after purchasing an additional 269 shares during the period. Bessemer Group Inc. lifted its holdings in shares of Trustmark by 37.4% during the 3rd quarter. Bessemer Group Inc. now owns 1,073 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 292 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Trustmark by 0.6% in the 2nd quarter. California State Teachers Retirement System now owns 53,630 shares of the financial services provider’s stock valued at $1,955,000 after purchasing an additional 313 shares during the period. Finally, Richardson Financial Services Inc. increased its stake in Trustmark by 86.7% during the 3rd quarter. Richardson Financial Services Inc. now owns 743 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 345 shares in the last quarter. Institutional investors own 67.64% of the company’s stock.

About Trustmark

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.