Trustmark (NASDAQ:TRMK) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Trustmark (NASDAQ:TRMK) from a "sell" to a Hold; analysts' consensus remains Hold with an average price target of $44.75 (2 Buys, 5 Holds).
• Trustmark beat Q1 estimates, reporting $0.95 EPS vs. $0.87 expected and $208.07M in revenue vs. $204.98M, with a net margin of 20.12% and return on equity of 10.74%.

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

TRMK has been the topic of a number of other research reports. Hovde Group raised their price target on shares of Trustmark from $42.00 to $44.50 and gave the company a "market perform" rating in a report on Thursday, January 29th. Piper Sandler raised their price target on shares of Trustmark from $44.00 to $45.50 and gave the company a "neutral" rating in a report on Thursday. Brean Capital initiated coverage on shares of Trustmark in a report on Thursday, March 12th. They set a "buy" rating on the stock. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Trustmark in a report on Wednesday, January 21st. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $45.00 price target on shares of Trustmark in a report on Thursday, April 9th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, Trustmark currently has a consensus rating of "Hold" and an average price target of $44.75.

Trustmark Stock Performance

Shares of NASDAQ TRMK opened at $44.91 on Friday. The firm's 50-day moving average price is $43.15 and its 200-day moving average price is $41.18. 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 company has a market cap of $2.64 billion, a PE ratio of 11.88 and a beta of 0.66. Trustmark has a 52-week low of $33.39 and a 52-week high of $45.99.

Trustmark (NASDAQ:TRMK - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.08. The firm had revenue of $208.07 million for the quarter, compared to the consensus estimate of $204.98 million. Trustmark had a net margin of 20.12% and a return on equity of 10.74%. During the same quarter last year, the firm posted $0.88 EPS. As a group, analysts anticipate that Trustmark will post 3.92 EPS for the current year.

Hedge Funds Weigh In On Trustmark

Institutional investors and hedge funds have recently made changes to their positions in the business. Federated Hermes Inc. boosted its holdings in shares of Trustmark by 7.3% in the third quarter. Federated Hermes Inc. now owns 369,109 shares of the financial services provider's stock worth $14,617,000 after buying an additional 25,164 shares during the last quarter. HB Wealth Management LLC boosted its holdings in shares of Trustmark by 544.0% in the third quarter. HB Wealth Management LLC now owns 70,211 shares of the financial services provider's stock worth $2,780,000 after buying an additional 59,308 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Trustmark by 9.8% in the third quarter. Principal Financial Group Inc. now owns 328,925 shares of the financial services provider's stock worth $13,025,000 after buying an additional 29,302 shares during the last quarter. Clark Capital Management Group Inc. boosted its holdings in shares of Trustmark by 13.5% in the third quarter. Clark Capital Management Group Inc. now owns 352,468 shares of the financial services provider's stock worth $13,958,000 after buying an additional 42,032 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Trustmark by 29.3% in the third quarter. Public Sector Pension Investment Board now owns 266,557 shares of the financial services provider's stock worth $10,556,000 after buying an additional 60,340 shares during the last quarter. Hedge funds and other 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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