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

Trustmark (NASDAQ:TRMK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

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. “

Shares of Trustmark stock traded down $0.18 on Tuesday, reaching $32.78. 1,712 shares of the stock were exchanged, compared to its average volume of 219,787. Trustmark has a 1-year low of $20.08 and a 1-year high of $36.31. The company has a current ratio of 0.79, a quick ratio of 0.76 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average price of $33.71 and a two-hundred day moving average price of $29.30. The firm has a market capitalization of $2.08 billion, a PE ratio of 14.57 and a beta of 1.04.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, April 27th. The financial services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.20. Trustmark had a net margin of 19.23% and a return on equity of 8.85%. The company had revenue of $165.80 million for the quarter, compared to analyst estimates of $167.48 million. During the same period in the prior year, the business posted $0.40 earnings per share. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. Research analysts expect that Trustmark will post 2.47 EPS for the current year.

In other Trustmark news, Chairman Gerard R. Host sold 20,000 shares of the company’s stock in a transaction dated Tuesday, March 9th. The shares were sold at an average price of $34.07, for a total value of $681,400.00. Corporate insiders own 1.60% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in TRMK. Norges Bank purchased a new position in shares of Trustmark during the fourth quarter valued at approximately $21,168,000. Morgan Stanley increased its position in Trustmark by 286.6% during the fourth quarter. Morgan Stanley now owns 252,869 shares of the financial services provider’s stock worth $6,906,000 after purchasing an additional 187,466 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Trustmark by 4,203.2% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 137,358 shares of the financial services provider’s stock worth $3,751,000 after purchasing an additional 134,166 shares during the last quarter. Jacobs Asset Management LLC increased its position in Trustmark by 71.2% during the fourth quarter. Jacobs Asset Management LLC now owns 316,973 shares of the financial services provider’s stock worth $8,657,000 after purchasing an additional 131,867 shares during the last quarter. Finally, Richard Bernstein Advisors LLC acquired a new position in Trustmark during the fourth quarter worth approximately $2,148,000. 57.95% of the stock is currently owned by institutional investors and hedge funds.

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 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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