Trustmark (NASDAQ:TRMK) Cut to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Trustmark (NASDAQ:TRMK) from a "hold" to a "sell" in a report released Saturday.
• Despite that downgrade, the analyst consensus remains a "Hold" (two Buy, four Hold) with a consensus price target of $44.50.
• Trustmark recently beat quarterly estimates (EPS $0.97 vs. $0.91, revenue $209.44M vs. $207.05M) and trades around $44.91, with a market cap of $2.64B and a PE of 12.11.

Trustmark (NASDAQ:TRMK - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

Several other analysts also recently weighed in on TRMK. Keefe, Bruyette & Woods restated a "market perform" rating and set a $45.00 target price on shares of Trustmark in a research note on Thursday. Hovde Group raised their target price on Trustmark from $42.00 to $44.50 and gave the company a "market perform" rating in a research note on Thursday, January 29th. DA Davidson raised their target price on Trustmark from $42.00 to $44.00 and gave the company a "neutral" rating in a research note on Thursday, January 29th. Brean Capital initiated coverage on Trustmark in a research note on Thursday, March 12th. They set a "buy" rating for the company. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Trustmark in a research report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $44.50.

Trustmark Stock Down 1.0%

Shares of Trustmark stock opened at $44.91 on Friday. The business has a 50-day moving average of $42.98 and a 200-day moving average of $40.68. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.87. The company has a market capitalization of $2.64 billion, a PE ratio of 12.11 and a beta of 0.65. Trustmark has a 1-year low of $30.05 and a 1-year high of $45.55.

Trustmark (NASDAQ:TRMK - Get Free Report) last announced its earnings results on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.06. The company had revenue of $209.44 million during the quarter, compared to the consensus estimate of $207.05 million. Trustmark had a return on equity of 10.77% and a net margin of 19.95%.During the same period last year, the firm earned $0.92 earnings per share. As a group, equities analysts forecast that Trustmark will post 3.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Trustmark

Several large investors have recently modified their holdings of the stock. UBS Group AG lifted its holdings in Trustmark by 282.0% in the fourth quarter. UBS Group AG now owns 640,419 shares of the financial services provider's stock worth $24,944,000 after acquiring an additional 472,751 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Trustmark by 8.9% in the third quarter. Wellington Management Group LLP now owns 3,883,882 shares of the financial services provider's stock worth $153,802,000 after acquiring an additional 316,851 shares during the last quarter. Bridgeway Capital Management LLC lifted its holdings in Trustmark by 156.0% in the fourth quarter. Bridgeway Capital Management LLC now owns 389,333 shares of the financial services provider's stock worth $15,165,000 after acquiring an additional 237,266 shares during the last quarter. American Century Companies Inc. lifted its holdings in Trustmark by 30.5% in the third quarter. American Century Companies Inc. now owns 564,180 shares of the financial services provider's stock worth $22,342,000 after acquiring an additional 132,023 shares during the last quarter. Finally, Empowered Funds LLC lifted its holdings in Trustmark by 107.6% in the fourth quarter. Empowered Funds LLC now owns 245,602 shares of the financial services provider's stock worth $9,566,000 after acquiring an additional 127,284 shares during 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.

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