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

Key Points

• Wall Street Zen downgraded Trustmark from “Hold” to “Sell,” while the broader analyst consensus remains “Hold,” with an average price target of $46.12.
• Trustmark shares opened at $47.45, near their 12-month high of $48.00, and are up from the 12-month low of $36.05.
• The company slightly exceeded quarterly expectations, reporting $0.97 in earnings per share versus a $0.96 estimate and revenue of $213.38 million, up 4.8% year over year.

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

TRMK has been the topic of a number of other reports. DA Davidson increased their price objective on Trustmark from $46.00 to $48.00 and gave the company a "neutral" rating in a research report on Thursday. Piper Sandler boosted their target price on Trustmark from $45.50 to $47.00 and gave the stock a "neutral" rating in a research report on Thursday. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $45.00 price target on shares of Trustmark in a research note on Thursday, April 9th. Finally, Weiss Ratings upgraded Trustmark from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday, June 1st. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $46.12.

Trustmark Stock Down 0.2%

Shares of NASDAQ:TRMK opened at $47.45 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The firm has a market cap of $2.78 billion, a P/E ratio of 12.04 and a beta of 0.65. Trustmark has a 12 month low of $36.05 and a 12 month high of $48.00. The company's 50-day moving average price is $45.65 and its two-hundred day moving average price is $44.02.

Trustmark (NASDAQ:TRMK - Get Free Report) last announced its earnings results on Tuesday, July 28th. The financial services provider reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. Trustmark had a net margin of 20.75% and a return on equity of 10.69%. The company had revenue of $213.38 million during the quarter, compared to the consensus estimate of $210.30 million. During the same period in the previous year, the firm posted $0.92 earnings per share. The company's revenue was up 4.8% on a year-over-year basis. As a group, research analysts forecast that Trustmark will post 3.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Trustmark

Several institutional investors have recently bought and sold shares of the company. Hsbc Holdings PLC bought a new position in shares of Trustmark in the fourth quarter valued at $898,000. UBS Group AG raised its position in Trustmark by 282.0% during 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 in the last quarter. Horizon Investments LLC bought a new stake in Trustmark during the fourth quarter worth $1,185,000. Tudor Investment Corp ET AL lifted its stake in Trustmark by 11.6% in the third quarter. Tudor Investment Corp ET AL now owns 206,748 shares of the financial services provider's stock valued at $8,187,000 after acquiring an additional 21,472 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in Trustmark by 62.0% in the fourth quarter. SG Americas Securities LLC now owns 36,353 shares of the financial services provider's stock valued at $1,416,000 after acquiring an additional 13,909 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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