Trustmark (NASDAQ:TRMK) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Trustmark (NASDAQ:TRMK) from a "strong-buy" rating to a "hold" rating, indicating a shift in analyst sentiment towards the stock.
• The average price target for Trustmark is currently $41.00, with two analysts rating it as a Buy and four as a Hold.
• Trustmark's latest quarterly earnings showed a profit of $0.92 per share, surpassing analyst expectations, with reported revenues reaching $203.44 million.

Trustmark (NASDAQ:TRMK - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other research analysts have also issued reports about the company. Wall Street Zen lowered Trustmark from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Hovde Group upped their target price on Trustmark from $37.00 to $41.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. Finally, DA Davidson upped their target price on Trustmark from $39.00 to $43.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $41.00.

Trustmark Stock Down 0.0%

Shares of TRMK stock opened at $40.37 on Tuesday. The stock's 50-day simple moving average is $39.09 and its 200-day simple moving average is $36.19. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.88. The firm has a market capitalization of $2.44 billion, a PE ratio of 11.34 and a beta of 0.71. Trustmark has a fifty-two week low of $29.77 and a fifty-two week high of $41.33.

Trustmark (NASDAQ:TRMK - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.06. The business had revenue of $203.44 million for the quarter, compared to analyst estimates of $200.35 million. Trustmark had a return on equity of 10.81% and a net margin of 19.21%.During the same period in the prior year, the company earned $0.66 earnings per share. Equities analysts expect that Trustmark will post 3.42 earnings per share for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Trustmark

Hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its position in Trustmark by 452.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider's stock worth $46,000 after purchasing an additional 1,022 shares in the last quarter. IFP Advisors Inc purchased a new position in shares of Trustmark in the first quarter valued at approximately $51,000. State of Wyoming purchased a new position in shares of Trustmark in the first quarter valued at approximately $52,000. GAMMA Investing LLC lifted its position in shares of Trustmark by 41.0% in the first quarter. GAMMA Investing LLC now owns 1,809 shares of the financial services provider's stock valued at $62,000 after acquiring an additional 526 shares in the last quarter. Finally, Mascagni Wealth Management Inc. purchased a new position in shares of Trustmark in the fourth quarter valued at approximately $82,000. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.