Trustmark Corp. (TRMK) Rating Lowered to Hold at Zacks Investment Research
Trustmark Corp. (NASDAQ:TRMK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.
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. “
Several other analysts have also recently weighed in on TRMK. SunTrust Banks Inc. upped their price objective on shares of Trustmark Corp. from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, June 9th. Jefferies Group reaffirmed a “hold” rating and set a $25.00 price objective on shares of Trustmark Corp. in a research note on Thursday, July 7th. Finally, Keefe, Bruyette & Woods raised shares of Trustmark Corp. from an “underperform” rating to a “market perform” rating and upped their price objective for the stock from $23.00 to $25.00 in a research note on Thursday, July 28th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $26.75.
Shares of Trustmark Corp. (NASDAQ:TRMK) opened at 27.66 on Thursday. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 17.85 and a beta of 1.21. Trustmark Corp. has a 12 month low of $19.75 and a 12 month high of $28.71. The stock’s 50 day moving average price is $27.71 and its 200-day moving average price is $25.19.
Trustmark Corp. (NASDAQ:TRMK) last posted its earnings results on Tuesday, July 26th. The financial services provider reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.02. Trustmark Corp. had a net margin of 17.44% and a return on equity of 7.47%. During the same period in the previous year, the company earned $0.45 EPS. Equities analysts forecast that Trustmark Corp. will post $1.64 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, August 30th. This represents a $0.92 annualized dividend and a dividend yield of 3.33%. Trustmark Corp.’s dividend payout ratio (DPR) is currently 59.36%.
Several hedge funds have recently added to or reduced their stakes in the stock. Aperio Group LLC boosted its stake in Trustmark Corp. by 176.3% in the first quarter. Aperio Group LLC now owns 247,730 shares of the financial services provider’s stock valued at $5,705,000 after buying an additional 158,054 shares during the period. Nisa Investment Advisors L.L.C. boosted its stake in Trustmark Corp. by 42.7% in the first quarter. Nisa Investment Advisors L.L.C. now owns 58,500 shares of the financial services provider’s stock valued at $1,347,000 after buying an additional 17,500 shares during the period. Teachers Advisors Inc. boosted its stake in Trustmark Corp. by 5.4% in the first quarter. Teachers Advisors Inc. now owns 112,645 shares of the financial services provider’s stock valued at $2,594,000 after buying an additional 5,760 shares during the period. BlackRock Group LTD boosted its stake in Trustmark Corp. by 20.0% in the first quarter. BlackRock Group LTD now owns 125,251 shares of the financial services provider’s stock valued at $2,885,000 after buying an additional 20,834 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in Trustmark Corp. by 1.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,038,072 shares of the financial services provider’s stock valued at $46,937,000 after buying an additional 33,704 shares during the period. 61.26% of the stock is currently owned by institutional investors and hedge funds.
About Trustmark Corp.
Trustmark Corporation (Trustmark) is a bank holding company. Trustmark’s principal subsidiary is Trustmark National Bank (TNB). Through TNB and other subsidiaries, Trustmark operates as a financial services organization providing banking and other financial solutions through approximately 205 offices in Alabama, Florida, Mississippi, Tennessee and Texas.
Receive News & Stock Ratings for Trustmark Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trustmark Corp. and related stocks with our FREE daily email newsletter.