Zacks Investment Research downgraded shares of Trustmark (NASDAQ:TRMK) from a buy rating to a hold rating in a report released on Friday morning.
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 subject of several other reports. SunTrust Banks dropped their target price on shares of Trustmark from $36.00 to $31.00 and set a hold rating for the company in a research report on Monday, October 29th. BidaskClub upgraded shares of Trustmark from a sell rating to a hold rating in a research report on Saturday, October 6th. ValuEngine upgraded shares of Trustmark from a sell rating to a hold rating in a research report on Tuesday, October 30th. Raymond James cut shares of Trustmark from a market perform rating to an underperform rating in a research report on Monday, January 7th. Finally, Stephens set a $35.00 target price on shares of Trustmark and gave the company a hold rating in a research report on Wednesday, October 24th. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Trustmark presently has a consensus rating of Hold and a consensus target price of $34.50.
Trustmark stock traded up $0.26 during midday trading on Friday, hitting $30.38. The company’s stock had a trading volume of 566,318 shares, compared to its average volume of 432,290. Trustmark has a 1-year low of $26.84 and a 1-year high of $36.32. The company has a quick ratio of 0.79, a current ratio of 0.81 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 15.82 and a beta of 1.05.
Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.03). The business had revenue of $157.23 million during the quarter, compared to analyst estimates of $155.38 million. Trustmark had a return on equity of 9.21% and a net margin of 18.99%. Trustmark’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.51 EPS. On average, sell-side analysts anticipate that Trustmark will post 2.21 earnings per share for the current fiscal year.
In related news, Director Leroy G. Walker, Jr. sold 1,789 shares of Trustmark stock in a transaction that occurred on Monday, December 10th. The shares were sold at an average price of $30.35, for a total transaction of $54,296.15. Following the sale, the director now directly owns 13,159 shares of the company’s stock, valued at approximately $399,375.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charles Scott Woods sold 1,500 shares of Trustmark stock in a transaction that occurred on Monday, November 26th. The shares were sold at an average price of $31.65, for a total transaction of $47,475.00. Following the sale, the insider now directly owns 12,398 shares in the company, valued at $392,396.70. The disclosure for this sale can be found here. Insiders sold a total of 5,289 shares of company stock valued at $163,671 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC grew its holdings in shares of Trustmark by 66.3% during the 3rd quarter. SG Americas Securities LLC now owns 51,059 shares of the financial services provider’s stock valued at $1,718,000 after purchasing an additional 20,348 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Trustmark by 953.3% during the 3rd quarter. Bank of Montreal Can now owns 54,215 shares of the financial services provider’s stock valued at $1,825,000 after purchasing an additional 49,068 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Trustmark by 891.5% during the 2nd quarter. Millennium Management LLC now owns 502,650 shares of the financial services provider’s stock valued at $16,401,000 after purchasing an additional 451,952 shares during the last quarter. Credit Suisse AG grew its holdings in shares of Trustmark by 7.6% during the 3rd quarter. Credit Suisse AG now owns 72,754 shares of the financial services provider’s stock valued at $2,449,000 after purchasing an additional 5,128 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Trustmark during the 3rd quarter valued at approximately $348,000. 71.36% of the stock is currently owned by institutional investors.
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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