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

Wall Street Zen cut shares of Trustmark (NASDAQ:TRMK) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

Several other research analysts have also commented on TRMK. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $45.00 price target on shares of Trustmark in a research report on Thursday, April 9th. DA Davidson lifted their price target on Trustmark from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Brean Capital assumed coverage on Trustmark in a research report on Thursday, March 12th. They set a “buy” rating on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Trustmark in a research report on Wednesday, January 21st. Finally, Hovde Group lifted their price target on Trustmark from $42.00 to $44.50 and gave the stock a “market perform” rating in a research report on Thursday, January 29th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Trustmark presently has a consensus rating of “Hold” and an average target price of $44.50.

Trustmark Trading Down 0.1%

TRMK opened at $44.87 on Friday. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 12.09 and a beta of 0.65. Trustmark has a 52 week low of $30.69 and a 52 week high of $45.55. The business’s 50 day moving average is $43.01 and its two-hundred day moving average is $40.72. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.91 by $0.06. The company had revenue of $209.44 million for the quarter, compared to analyst estimates of $207.05 million. Trustmark had a return on equity of 10.77% and a net margin of 19.95%.During the same quarter in the previous year, the company posted $0.92 earnings per share. On average, research analysts predict that Trustmark will post 3.42 EPS for the current year.

Trustmark Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, March 15th. Stockholders of record on Sunday, March 1st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.2%. This is a boost from Trustmark’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, February 27th. Trustmark’s dividend payout ratio (DPR) is currently 26.95%.

Institutional Investors Weigh In On Trustmark

Large investors have recently modified their holdings of the stock. Richardson Financial Services Inc. raised its stake in shares of Trustmark by 86.7% during the third quarter. Richardson Financial Services Inc. now owns 743 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 345 shares during the last quarter. Blue Trust Inc. purchased a new stake in shares of Trustmark during the fourth quarter worth approximately $31,000. Rockefeller Capital Management L.P. raised its stake in shares of Trustmark by 1,129.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 848 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 779 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Trustmark during the fourth quarter worth approximately $36,000. Finally, Bessemer Group Inc. raised its stake in shares of Trustmark by 37.4% during the third quarter. Bessemer Group Inc. now owns 1,073 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 292 shares during the last quarter. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Trustmark Company Profile

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.