Trustmark (NASDAQ:TRMK) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Trustmark (NASDAQ:TRMK) from a sell rating to a hold rating in a report released on Friday morning.

Several other equities research analysts have also weighed in on the company. Piper Sandler restated a neutral rating and set a $29.00 price target on shares of Trustmark in a research report on Tuesday, March 26th. DA Davidson reiterated a neutral rating on shares of Trustmark in a research note on Monday, January 15th. Truist Financial lifted their price objective on Trustmark from $29.00 to $30.00 and gave the company a hold rating in a research note on Monday, April 1st. TheStreet upgraded Trustmark from a c+ rating to a b rating in a research note on Tuesday, January 23rd. Finally, Keefe, Bruyette & Woods lifted their price objective on Trustmark from $27.00 to $30.00 and gave the company a market perform rating in a research note on Friday, January 26th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Trustmark presently has an average rating of Hold and a consensus price target of $29.67.

Trustmark Trading Up 3.9 %

NASDAQ TRMK opened at $26.73 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.11. Trustmark has a twelve month low of $18.96 and a twelve month high of $28.65. The firm has a market capitalization of $1.64 billion, a PE ratio of 9.86 and a beta of 0.82. The stock’s 50 day moving average is $26.73 and its 200 day moving average is $25.30.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.04. Trustmark had a return on equity of 10.77% and a net margin of 15.06%. The company had revenue of $189.85 million for the quarter, compared to analyst estimates of $187.63 million. During the same period in the previous year, the company posted $0.68 earnings per share. The firm’s revenue was down 2.7% on a year-over-year basis. Research analysts forecast that Trustmark will post 2.44 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.44%. The ex-dividend date was Thursday, February 29th. Trustmark’s dividend payout ratio is currently 33.95%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Coppell Advisory Solutions Corp. purchased a new position in shares of Trustmark in the fourth quarter worth $43,000. Headlands Technologies LLC purchased a new position in shares of Trustmark in the third quarter worth $28,000. Point72 Middle East FZE purchased a new position in shares of Trustmark in the fourth quarter worth $82,000. Tower Research Capital LLC TRC raised its stake in shares of Trustmark by 208.2% in the first quarter. Tower Research Capital LLC TRC now owns 2,795 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 1,888 shares during the last quarter. Finally, Arlington Trust Co LLC purchased a new position in shares of Trustmark in the fourth quarter worth $84,000. 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.