Trustmark (NASDAQ:TRMK – Get Free Report) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
Separately, Truist Financial increased their price objective on shares of Trustmark from $21.00 to $29.00 and gave the company a “hold” rating in a research report on Friday, December 15th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $31.20.
Trustmark Stock Down 1.0 %
TRMK stock traded down $0.27 during midday trading on Friday, hitting $27.88. The company’s stock had a trading volume of 194,047 shares, compared to its average volume of 309,110. The company’s fifty day moving average price is $23.79 and its 200 day moving average price is $23.11. Trustmark has a twelve month low of $18.96 and a twelve month high of $35.58. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market capitalization of $1.70 billion, a P/E ratio of 17.87 and a beta of 0.84.
Trustmark (NASDAQ:TRMK – Get Free Report) last released its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). The business had revenue of $194.16 million during the quarter, compared to analyst estimates of $191.27 million. Trustmark had a net margin of 9.18% and a return on equity of 11.35%. As a group, equities research analysts predict that Trustmark will post 2.78 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new stake in shares of Trustmark in the 3rd quarter worth about $28,000. Coppell Advisory Solutions Corp. bought a new position in Trustmark during the fourth quarter valued at about $43,000. Tower Research Capital LLC TRC boosted its stake in Trustmark by 208.2% in the first quarter. Tower Research Capital LLC TRC now owns 2,795 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 1,888 shares during the last quarter. Point72 Middle East FZE purchased a new position in Trustmark in the fourth quarter valued at approximately $82,000. Finally, Public Employees Retirement System of Ohio grew its holdings in Trustmark by 315.1% during the first quarter. Public Employees Retirement System of Ohio now owns 4,466 shares of the financial services provider’s stock valued at $110,000 after purchasing an additional 3,390 shares during the period. 65.26% of the stock is 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 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.