Trustmark (NASDAQ:TRMK) Raised to Hold at StockNews.com

Trustmark (NASDAQ:TRMK) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

A number of other research analysts also recently issued reports on TRMK. DA Davidson raised their price target on shares of Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday. Truist Financial cut their target price on shares of Trustmark from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Friday, September 20th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $34.50.

Trustmark Stock Up 0.1 %

Trustmark stock traded up $0.02 during midday trading on Thursday, hitting $34.46. The stock had a trading volume of 257,169 shares, compared to its average volume of 273,898. The business has a fifty day moving average price of $32.60 and a 200 day moving average price of $30.90. Trustmark has a 12 month low of $18.96 and a 12 month high of $35.75. The stock has a market cap of $2.11 billion, a P/E ratio of 13.41 and a beta of 0.73. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.02. Trustmark had a return on equity of 9.32% and a net margin of 16.24%. The business had revenue of $192.30 million for the quarter, compared to analyst estimates of $192.77 million. During the same period in the prior year, the company posted $0.64 EPS. Research analysts predict that Trustmark will post 2.92 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TRMK. GAMMA Investing LLC increased its stake in shares of Trustmark by 62.1% in the second quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 351 shares during the period. EntryPoint Capital LLC bought a new position in Trustmark in the 1st quarter worth approximately $52,000. Innealta Capital LLC acquired a new stake in Trustmark in the 2nd quarter valued at approximately $61,000. nVerses Capital LLC bought a new stake in Trustmark during the 3rd quarter valued at $67,000. Finally, CWM LLC boosted its position in Trustmark by 14.6% during the 2nd quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock worth $144,000 after acquiring an additional 611 shares during the period. 67.64% of the stock is 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 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.