Trustmark (NASDAQ:TRMK) Earns "Market Perform" Rating from Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods reiterated a “Market Perform” rating on Trustmark with a $45 target, implying roughly a 1.1% upside from the prior close.
• Street coverage is mixed—two Buy and four Hold ratings—leaving a consensus rating of Hold and an average target of $44.50, suggesting limited upside versus current levels.
• Trustmark recently beat Q4 expectations with EPS $0.97 vs. $0.91 and revenue of $209.4M, and the stock trades around $44.51 with a P/E of 12 and a $2.62B market cap.

Trustmark (NASDAQ:TRMK - Get Free Report)'s stock had its "market perform" rating restated by stock analysts at Keefe, Bruyette & Woods in a note issued to investors on Thursday,Benzinga reports. They presently have a $45.00 target price on the financial services provider's stock. Keefe, Bruyette & Woods' target price suggests a potential upside of 1.10% from the company's previous close.

Other equities research analysts have also issued reports about the stock. DA Davidson increased their target price on shares of Trustmark from $42.00 to $44.00 and gave the stock a "neutral" rating in a research note on Thursday, January 29th. Brean Capital began coverage on shares of Trustmark in a research report on Thursday, March 12th. They issued a "buy" rating on the stock. Wall Street Zen raised shares of Trustmark from a "sell" rating to a "hold" rating in a research note on Saturday, March 14th. Hovde Group upped their price target on shares of Trustmark from $42.00 to $44.50 and gave the stock a "market perform" rating in a research report on Thursday, January 29th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Trustmark in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $44.50.

Trustmark Trading Up 2.7%

TRMK stock opened at $44.51 on Thursday. The company's 50-day simple moving average is $42.87 and its 200-day simple moving average is $40.62. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. Trustmark has a 52-week low of $29.91 and a 52-week high of $45.43. The firm has a market cap of $2.62 billion, a P/E ratio of 12.00 and a beta of 0.65.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its earnings results on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.06. Trustmark had a net margin of 19.95% and a return on equity of 10.77%. The business had revenue of $209.44 million for the quarter, compared to analyst estimates of $207.05 million. During the same period in the prior year, the company posted $0.92 EPS. 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 hedge funds and other institutional investors have recently modified their holdings of the business. IFP Advisors Inc boosted its position in Trustmark by 24.1% during the third quarter. IFP Advisors Inc now owns 1,375 shares of the financial services provider's stock worth $54,000 after acquiring an additional 267 shares during the last quarter. Wedge Capital Management L L P NC boosted its position in Trustmark by 0.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 29,552 shares of the financial services provider's stock worth $1,151,000 after acquiring an additional 269 shares during the last quarter. Bessemer Group Inc. boosted its position in Trustmark by 37.4% during the third quarter. Bessemer Group Inc. now owns 1,073 shares of the financial services provider's stock worth $42,000 after acquiring an additional 292 shares during the last quarter. California State Teachers Retirement System boosted its position in Trustmark by 0.6% during the second quarter. California State Teachers Retirement System now owns 53,630 shares of the financial services provider's stock worth $1,955,000 after acquiring an additional 313 shares during the last quarter. Finally, Richardson Financial Services Inc. boosted its position in Trustmark by 86.7% during the third quarter. Richardson Financial Services Inc. now owns 743 shares of the financial services provider's stock worth $29,000 after acquiring an additional 345 shares during the last quarter. 67.64% of the stock is owned by hedge funds and other institutional investors.

Trustmark Company Profile

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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