Trustmark (NASDAQ:TRMK) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Trustmark (NASDAQ:TRMK) from a hold rating to a sell rating in a research note released on Saturday.

TRMK has been the subject of a number of other research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, October 8th. Zacks Research cut Trustmark from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Trustmark currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.25.

Trustmark Price Performance

NASDAQ TRMK opened at $39.11 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.87 and a current ratio of 0.88. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 10.69 and a beta of 0.71. The business has a 50 day simple moving average of $38.49 and a 200 day simple moving average of $38.01. Trustmark has a 52-week low of $29.77 and a 52-week high of $41.33.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). Trustmark had a net margin of 19.82% and a return on equity of 10.90%. The company had revenue of $207.53 million during the quarter, compared to analyst estimates of $206.13 million. During the same quarter last year, the company earned $0.84 EPS. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. Analysts anticipate that Trustmark will post 3.42 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.96 annualized dividend and a yield of 2.5%. Trustmark’s dividend payout ratio is 26.23%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc boosted its holdings in shares of Trustmark by 24.1% in the 3rd quarter. IFP Advisors Inc now owns 1,375 shares of the financial services provider’s stock valued at $54,000 after buying an additional 267 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of Trustmark in the 3rd quarter valued at about $240,000. CANADA LIFE ASSURANCE Co lifted its stake in Trustmark by 2.7% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 50,892 shares of the financial services provider’s stock valued at $2,023,000 after purchasing an additional 1,360 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Trustmark during the third quarter worth about $346,000. Finally, Qube Research & Technologies Ltd grew its holdings in Trustmark by 23.9% during the third quarter. Qube Research & Technologies Ltd now owns 163,216 shares of the financial services provider’s stock worth $6,463,000 after purchasing an additional 31,476 shares during the period. Institutional investors and hedge funds own 67.64% of the company’s stock.

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 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.