Trustmark (NASDAQ:TRMK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Saturday, 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. “

TRMK has been the topic of several other research reports. BidaskClub cut Trustmark from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Keefe, Bruyette & Woods upgraded Trustmark from an “underperform” rating to a “market perform” rating and set a $25.00 price objective on the stock in a report on Wednesday, April 1st. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Trustmark has an average rating of “Hold” and a consensus target price of $33.00.

Trustmark stock opened at $23.39 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 0.84. The stock has a fifty day moving average of $23.86 and a two-hundred day moving average of $27.77. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 10.78 and a beta of 1.09. Trustmark has a fifty-two week low of $20.26 and a fifty-two week high of $36.04.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.09). Trustmark had a return on equity of 8.81% and a net margin of 19.11%. The business had revenue of $169.20 million for the quarter, compared to analyst estimates of $153.50 million. During the same quarter last year, the business earned $0.51 EPS. Trustmark’s revenue for the quarter was up 13.2% compared to the same quarter last year. On average, analysts forecast that Trustmark will post 1.39 EPS for the current fiscal year.

In other news, Director Richard H. Puckett bought 5,000 shares of Trustmark stock in a transaction that occurred on Tuesday, May 19th. The shares were purchased at an average price of $22.98 per share, for a total transaction of $114,900.00. Following the completion of the acquisition, the director now owns 30,302 shares of the company’s stock, valued at $696,339.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in TRMK. Norges Bank purchased a new position in Trustmark in the fourth quarter valued at about $28,315,000. APG Asset Management N.V. purchased a new position in Trustmark in the first quarter valued at about $4,564,000. Acadian Asset Management LLC increased its position in shares of Trustmark by 9.5% during the first quarter. Acadian Asset Management LLC now owns 800,203 shares of the financial services provider’s stock worth $18,644,000 after acquiring an additional 69,318 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Trustmark by 6.7% during the first quarter. Geode Capital Management LLC now owns 979,633 shares of the financial services provider’s stock worth $22,825,000 after acquiring an additional 61,580 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Trustmark by 5.7% during the fourth quarter. Bank of New York Mellon Corp now owns 996,514 shares of the financial services provider’s stock worth $34,390,000 after acquiring an additional 54,005 shares during the last quarter. 63.43% of the stock is currently owned by institutional investors.

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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