Trustmark (TRMK) Cut to Hold at BidaskClub

BidaskClub lowered shares of Trustmark (NASDAQ:TRMK) from a buy rating to a hold rating in a research report report published on Thursday.

Several other research firms also recently weighed in on TRMK. Zacks Investment Research raised shares of Trustmark from a sell rating to a hold rating in a research note on Tuesday, January 1st. Raymond James downgraded shares of Trustmark from a market perform rating to an underperform rating in a research note on Monday, January 7th. Finally, Stephens set a $32.00 price target on shares of Trustmark and gave the company a hold rating in a research note on Friday, January 25th. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock has an average rating of Hold and a consensus price target of $34.20.

TRMK opened at $34.57 on Thursday. Trustmark has a 1-year low of $26.84 and a 1-year high of $36.32. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 15.64 and a beta of 1.08.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Wednesday, January 23rd. The financial services provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.01. Trustmark had a net margin of 21.89% and a return on equity of 9.43%. The firm had revenue of $151.97 million during the quarter, compared to the consensus estimate of $152.00 million. During the same period in the previous year, the firm posted $0.48 earnings per share. On average, equities analysts predict that Trustmark will post 2.22 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.66%. The ex-dividend date was Thursday, February 28th. Trustmark’s dividend payout ratio (DPR) is currently 41.63%.

In other news, insider Charles Scott Woods sold 2,500 shares of the business’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $31.50, for a total transaction of $78,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Harry M. Walker sold 1,880 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $35.57, for a total transaction of $66,871.60. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Advisor Group Inc. increased its position in shares of Trustmark by 14.3% during the fourth quarter. Advisor Group Inc. now owns 3,005 shares of the financial services provider’s stock worth $86,000 after acquiring an additional 377 shares in the last quarter. Rehmann Capital Advisory Group increased its position in shares of Trustmark by 101.4% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,025 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 516 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Trustmark by 160.7% during the fourth quarter. Captrust Financial Advisors now owns 863 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 532 shares in the last quarter. Strs Ohio increased its position in shares of Trustmark by 200.0% during the fourth quarter. Strs Ohio now owns 900 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 600 shares in the last quarter. Finally, Comerica Bank increased its position in shares of Trustmark by 1.9% during the fourth quarter. Comerica Bank now owns 43,568 shares of the financial services provider’s stock worth $1,362,000 after acquiring an additional 813 shares in the last quarter. 64.77% of the stock is owned by institutional investors.

Trustmark Company Profile

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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