Trustmark (TRMK) Upgraded at BidaskClub

BidaskClub upgraded shares of Trustmark (NASDAQ:TRMK) from a sell rating to a hold rating in a report released on Friday.

Several other equities research analysts have also commented on the company. Zacks Investment Research upgraded Trustmark from a hold rating to a buy rating and set a $34.00 price objective for the company in a research note on Wednesday, September 20th. ValuEngine lowered Trustmark from a buy rating to a hold rating in a research note on Thursday, November 9th. Keefe, Bruyette & Woods reiterated a hold rating and issued a $34.00 price target on shares of Trustmark in a research note on Thursday, October 26th. Finally, Jefferies Group reiterated a hold rating and issued a $36.00 price target on shares of Trustmark in a research note on Thursday, October 12th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. The stock has an average rating of Hold and an average target price of $34.40.

Shares of Trustmark (TRMK) opened at $33.29 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2,240.00, a price-to-earnings ratio of 19.02 and a beta of 1.15. Trustmark has a 12 month low of $28.16 and a 12 month high of $36.58.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. The firm had revenue of $153.37 million during the quarter, compared to analyst estimates of $154.40 million. Trustmark had a return on equity of 8.21% and a net margin of 18.56%. During the same period in the prior year, the business posted $0.47 EPS. research analysts anticipate that Trustmark will post 1.92 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were paid a $0.23 dividend. The ex-dividend date was Thursday, November 30th. This represents a $0.92 dividend on an annualized basis and a yield of 2.76%. Trustmark’s payout ratio is presently 52.57%.

A number of hedge funds have recently modified their holdings of TRMK. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Trustmark by 9.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,333 shares of the financial services provider’s stock worth $107,000 after buying an additional 296 shares in the last quarter. Flinton Capital Management LLC grew its position in shares of Trustmark by 37.6% during the second quarter. Flinton Capital Management LLC now owns 4,448 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 1,216 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of Trustmark during the third quarter valued at about $202,000. Riverhead Capital Management LLC grew its position in shares of Trustmark by 38.5% during the second quarter. Riverhead Capital Management LLC now owns 7,065 shares of the financial services provider’s stock valued at $227,000 after purchasing an additional 1,965 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in shares of Trustmark by 12.8% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 7,436 shares of the financial services provider’s stock valued at $239,000 after purchasing an additional 844 shares in the last quarter. Institutional investors and hedge funds own 62.54% of the company’s stock.

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About Trustmark

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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