Trustmark (NASDAQ:TRMK) Downgraded by StockNews.com to Sell

Trustmark (NASDAQ:TRMK - Get Free Report) was downgraded by stock analysts at StockNews.com from a "hold" rating to a "sell" rating in a report released on Thursday.

Several other brokerages also recently commented on TRMK. TheStreet raised shares of Trustmark from a "c+" rating to a "b" rating in a research report on Tuesday, January 23rd. Keefe, Bruyette & Woods increased their price target on shares of Trustmark from $27.00 to $30.00 and gave the company a "market perform" rating in a report on Friday, January 26th. DA Davidson restated a "neutral" rating on shares of Trustmark in a report on Monday, January 15th. Truist Financial upped their price objective on Trustmark from $29.00 to $30.00 and gave the company a "hold" rating in a research report on Monday, April 1st. Finally, Piper Sandler reissued a "neutral" rating and issued a $29.00 target price on shares of Trustmark in a report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $29.67.

Trustmark Stock Down 0.3 %

Shares of TRMK stock traded down $0.07 during trading hours on Thursday, hitting $26.43. 237,657 shares of the company's stock traded hands, compared to its average volume of 271,175. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.11. The stock's fifty day simple moving average is $26.83 and its two-hundred day simple moving average is $25.11. Trustmark has a 12-month low of $18.96 and a 12-month high of $28.65. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 9.75 and a beta of 0.82.

Trustmark (NASDAQ:TRMK - Get Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.04. Trustmark had a return on equity of 10.77% and a net margin of 15.06%. The business had revenue of $189.85 million during the quarter, compared to analysts' expectations of $187.63 million. During the same quarter in the previous year, the business earned $0.68 earnings per share. The firm's quarterly revenue was down 2.7% compared to the same quarter last year. On average, analysts expect that Trustmark will post 2.44 EPS for the current year.

Institutional Investors Weigh In On Trustmark

A number of large investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its stake in shares of Trustmark by 1.3% in the 2nd quarter. FMR LLC now owns 27,900 shares of the financial services provider's stock worth $814,000 after purchasing an additional 349 shares during the period. Advisor Group Holdings Inc. raised its position in Trustmark by 2.6% in the fourth quarter. Advisor Group Holdings Inc. now owns 15,097 shares of the financial services provider's stock worth $528,000 after acquiring an additional 389 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Trustmark by 1.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 23,981 shares of the financial services provider's stock worth $837,000 after acquiring an additional 399 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Trustmark by 1.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 31,861 shares of the financial services provider's stock worth $930,000 after purchasing an additional 410 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in Trustmark by 0.3% during the fourth quarter. Legal & General Group Plc now owns 167,034 shares of the financial services provider's stock valued at $4,657,000 after purchasing an additional 546 shares in the last quarter. Institutional investors own 67.64% of the company's stock.

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.

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