Recent Analysts’ Ratings Updates for Trustmark (TRMK)

Several brokerages have updated their recommendations and price targets on shares of Trustmark (NASDAQ: TRMK) in the last few weeks:

  • 10/4/2019 – Trustmark was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Trustmark Corporation is a multi-bank holding company. Its primary business activities are conducted through its wholly-owned subsidiary, Trustmark National Bank and Trustmark National Bank’s wholly-owned nonbanking subsidiaries, Trustmark Financial Services, Inc. and Trustmark Insurance Agency, Inc. Trustmark National Bank accounts for substantially all of the assets and revenues of the company. “
  • 10/2/2019 – Trustmark was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 9/19/2019 – Trustmark was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Trustmark Corporation is a multi-bank holding company. Its primary business activities are conducted through its wholly-owned subsidiary, Trustmark National Bank and Trustmark National Bank’s wholly-owned nonbanking subsidiaries, Trustmark Financial Services, Inc. and Trustmark Insurance Agency, Inc. Trustmark National Bank accounts for substantially all of the assets and revenues of the company. “
  • 9/18/2019 – Trustmark was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $39.00 price target on the stock. According to Zacks, “Trustmark Corporation is a multi-bank holding company. Its primary business activities are conducted through its wholly-owned subsidiary, Trustmark National Bank and Trustmark National Bank’s wholly-owned nonbanking subsidiaries, Trustmark Financial Services, Inc. and Trustmark Insurance Agency, Inc. Trustmark National Bank accounts for substantially all of the assets and revenues of the company. “
  • 9/12/2019 – Trustmark was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 9/12/2019 – Trustmark was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Trustmark Corporation is a multi-bank holding company. Its primary business activities are conducted through its wholly-owned subsidiary, Trustmark National Bank and Trustmark National Bank’s wholly-owned nonbanking subsidiaries, Trustmark Financial Services, Inc. and Trustmark Insurance Agency, Inc. Trustmark National Bank accounts for substantially all of the assets and revenues of the company. “
  • 9/11/2019 – Trustmark was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $37.00 price target on the stock. According to Zacks, “Trustmark Corporation is a multi-bank holding company. Its primary business activities are conducted through its wholly-owned subsidiary, Trustmark National Bank and Trustmark National Bank’s wholly-owned nonbanking subsidiaries, Trustmark Financial Services, Inc. and Trustmark Insurance Agency, Inc. Trustmark National Bank accounts for substantially all of the assets and revenues of the company. “
  • 8/31/2019 – Trustmark was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Trustmark Corporation is a multi-bank holding company. Its primary business activities are conducted through its wholly-owned subsidiary, Trustmark National Bank and Trustmark National Bank’s wholly-owned nonbanking subsidiaries, Trustmark Financial Services, Inc. and Trustmark Insurance Agency, Inc. Trustmark National Bank accounts for substantially all of the assets and revenues of the company. “
  • 8/30/2019 – Trustmark was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 8/29/2019 – Trustmark was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $36.00 price target on the stock. According to Zacks, “Trustmark Corporation is a multi-bank holding company. Its primary business activities are conducted through its wholly-owned subsidiary, Trustmark National Bank and Trustmark National Bank’s wholly-owned nonbanking subsidiaries, Trustmark Financial Services, Inc. and Trustmark Insurance Agency, Inc. Trustmark National Bank accounts for substantially all of the assets and revenues of the company. “
  • 8/22/2019 – Trustmark was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Trustmark Corporation is a multi-bank holding company. Its primary business activities are conducted through its wholly-owned subsidiary, Trustmark National Bank and Trustmark National Bank’s wholly-owned nonbanking subsidiaries, Trustmark Financial Services, Inc. and Trustmark Insurance Agency, Inc. Trustmark National Bank accounts for substantially all of the assets and revenues of the company. “

TRMK traded down $0.15 during mid-day trading on Monday, reaching $33.73. 155,881 shares of the company traded hands, compared to its average volume of 357,804. The stock has a market capitalization of $2.15 billion, a P/E ratio of 15.26 and a beta of 1.10. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 0.04. The company’s fifty day moving average price is $33.56 and its 200-day moving average price is $33.69. Trustmark Corp has a 52-week low of $26.84 and a 52-week high of $36.63.

Trustmark (NASDAQ:TRMK) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.08. The business had revenue of $157.40 million during the quarter, compared to analyst estimates of $156.35 million. Trustmark had a net margin of 21.20% and a return on equity of 9.28%. During the same period in the previous year, the business earned $0.59 EPS. As a group, sell-side analysts forecast that Trustmark Corp will post 2.34 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $0.92 dividend on an annualized basis and a yield of 2.73%. Trustmark’s dividend payout ratio is presently 41.63%.

In other news, insider Breck W. Tyler sold 19,398 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $33.70, for a total value of $653,712.60. Following the completion of the sale, the insider now directly owns 23,656 shares in the company, valued at approximately $797,207.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.50% of the company’s stock.

Several large investors have recently bought and sold shares of the company. State of Alaska Department of Revenue purchased a new stake in shares of Trustmark in the 3rd quarter worth $390,000. Nomura Holdings Inc. purchased a new stake in shares of Trustmark in the 2nd quarter worth $663,000. Nuveen Asset Management LLC purchased a new stake in shares of Trustmark in the 2nd quarter worth $10,426,000. D. E. Shaw & Co. Inc. increased its stake in shares of Trustmark by 250.8% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 22,994 shares of the financial services provider’s stock worth $765,000 after purchasing an additional 16,440 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Trustmark in the 2nd quarter worth $201,000. Hedge funds and other institutional investors own 66.67% of the company’s stock.

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 offers checking, savings, and money market accounts; individual retirement accounts; certificates of deposits; 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.

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