Wall Street Zen Downgrades Trustmark (NASDAQ:TRMK) to Hold

Wall Street Zen cut shares of Trustmark (NASDAQ:TRMK - Free Report) from a buy rating to a hold rating in a report released on Friday.

TRMK has been the subject of a number of other reports. Keefe, Bruyette & Woods decreased their price objective on shares of Trustmark from $45.00 to $43.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. DA Davidson upped their price objective on shares of Trustmark from $40.00 to $41.00 and gave the company a "neutral" rating in a research report on Thursday, January 30th. Finally, Hovde Group upped their price objective on shares of Trustmark from $36.00 to $37.00 and gave the company a "market perform" rating in a research report on Monday, April 28th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $39.80.

Trustmark Stock Down 0.5%

Shares of TRMK traded down $0.17 during midday trading on Friday, reaching $34.29. 325,018 shares of the company were exchanged, compared to its average volume of 305,018. The stock has a 50-day moving average price of $33.89 and a 200-day moving average price of $35.50. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 9.42 and a beta of 0.63. Trustmark has a 1-year low of $27.42 and a 1-year high of $40.73. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.88 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.06. The company had revenue of $231.83 million during the quarter, compared to analysts' expectations of $195.38 million. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. Research analysts expect that Trustmark will post 3.42 earnings per share for the current year.

Trustmark Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be given a dividend of $0.24 per share. The ex-dividend date is Friday, May 30th. This represents a $0.96 annualized dividend and a dividend yield of 2.80%. Trustmark's payout ratio is 25.00%.

Hedge Funds Weigh In On Trustmark

Large investors have recently bought and sold shares of the business. Barclays PLC lifted its holdings in Trustmark by 124.7% in the third quarter. Barclays PLC now owns 125,743 shares of the financial services provider's stock worth $4,001,000 after acquiring an additional 69,779 shares during the last quarter. CIBC Asset Management Inc bought a new position in Trustmark in the fourth quarter worth about $217,000. Raymond James Financial Inc. bought a new position in Trustmark in the fourth quarter worth about $1,145,000. Deutsche Bank AG lifted its holdings in Trustmark by 54.5% in the fourth quarter. Deutsche Bank AG now owns 52,756 shares of the financial services provider's stock worth $1,866,000 after acquiring an additional 18,603 shares during the last quarter. Finally, KBC Group NV lifted its holdings in Trustmark by 43.0% in the fourth quarter. KBC Group NV now owns 3,163 shares of the financial services provider's stock worth $112,000 after acquiring an additional 951 shares during 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.