Trustmark (NASDAQ:TRMK) Receives Buy (B-) Rating from Weiss Ratings

Key Points

• Trustmark has received a "buy (B-)" rating from Weiss Ratings, indicating a positive outlook from analysts.
• Several analysts have recently adjusted their price targets for Trustmark, with an average target price now at $41.00 and mixed ratings ranging from "buy" to "hold."
• Trustmark reported a quarterly EPS of $0.92, exceeding estimates, with revenue of $203.44 million, highlighting strong financial performance.

Trustmark (NASDAQ:TRMK - Get Free Report)'s stock had its "buy (b-)" rating reiterated by research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Other research analysts also recently issued research reports about the company. DA Davidson lifted their price objective on Trustmark from $39.00 to $43.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Zacks Research downgraded Trustmark from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 23rd. Finally, Hovde Group lifted their price objective on Trustmark from $37.00 to $41.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $41.00.

Trustmark Price Performance

TRMK stock traded down $0.30 during mid-day trading on Wednesday, hitting $39.50. 157,521 shares of the stock were exchanged, compared to its average volume of 300,092. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.86. The business has a fifty day moving average price of $39.36 and a 200 day moving average price of $36.60. Trustmark has a 12 month low of $29.77 and a 12 month high of $41.33. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 11.10 and a beta of 0.67.

Trustmark (NASDAQ:TRMK - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.06. Trustmark had a return on equity of 10.81% and a net margin of 19.21%.The firm had revenue of $203.44 million during the quarter, compared to analyst estimates of $200.35 million. During the same quarter in the previous year, the company posted $0.66 earnings per share. On average, sell-side analysts anticipate that Trustmark will post 3.42 EPS for the current year.

Insider Activity at Trustmark

In other Trustmark news, Director Marcelo L. Eduardo sold 700 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $38.49, for a total value of $26,943.00. Following the completion of the sale, the director owned 8,577 shares in the company, valued at approximately $330,128.73. This represents a 7.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gerard R. Host sold 20,970 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $38.49, for a total value of $807,135.30. Following the completion of the sale, the director owned 158,360 shares of the company's stock, valued at $6,095,276.40. The trade was a 11.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,226 shares of company stock worth $897,299 over the last ninety days. 1.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its holdings in shares of Trustmark by 452.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider's stock valued at $46,000 after acquiring an additional 1,022 shares during the last quarter. IFP Advisors Inc purchased a new position in shares of Trustmark during the first quarter worth approximately $51,000. State of Wyoming purchased a new position in shares of Trustmark during the first quarter worth approximately $52,000. GAMMA Investing LLC increased its position in shares of Trustmark by 41.0% during the first quarter. GAMMA Investing LLC now owns 1,809 shares of the financial services provider's stock worth $62,000 after acquiring an additional 526 shares during the period. Finally, CWM LLC increased its holdings in Trustmark by 9.7% during the first quarter. CWM LLC now owns 5,655 shares of the financial services provider's stock valued at $195,000 after buying an additional 502 shares during the period. Institutional investors own 67.64% of the company's stock.

About Trustmark

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.

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