Trustmark Corp. (NASDAQ:TRMK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.
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 a number of other research reports. Jefferies Group reiterated a “hold” rating and set a $25.00 target price on shares of Trustmark Corp. in a research report on Thursday, July 7th. Keefe, Bruyette & Woods raised shares of Trustmark Corp. from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $23.00 to $25.00 in a report on Thursday, July 28th. Finally, SunTrust Banks Inc. increased their price target on shares of Trustmark Corp. from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, June 9th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Trustmark Corp. presently has an average rating of “Hold” and a consensus target price of $26.75.
Shares of Trustmark Corp. (NASDAQ:TRMK) opened at 27.66 on Thursday. The firm has a 50-day moving average of $27.71 and a 200 day moving average of $25.19. Trustmark Corp. has a 12-month low of $19.75 and a 12-month high of $28.71. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 17.85 and a beta of 1.21.
Trustmark Corp. (NASDAQ:TRMK) last issued its earnings results on Tuesday, July 26th. The financial services provider reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Trustmark Corp. had a net margin of 17.44% and a return on equity of 7.47%. During the same quarter last year, the firm earned $0.45 earnings per share. On average, equities research analysts expect that Trustmark Corp. will post $1.64 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date was Tuesday, August 30th. Trustmark Corp.’s dividend payout ratio is currently 59.36%.
Large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio increased its stake in shares of Trustmark Corp. by 1.9% in the second quarter. Public Employees Retirement System of Ohio now owns 4,426 shares of the financial services provider’s stock worth $110,000 after buying an additional 82 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Trustmark Corp. during the second quarter worth $203,000. Keel Point LLC bought a new stake in shares of Trustmark Corp. during the second quarter worth $210,000. Connable Office Inc. bought a new stake in shares of Trustmark Corp. during the second quarter worth $215,000. Finally, Amalgamated Bank bought a new stake in shares of Trustmark Corp. during the second quarter worth $224,000. 61.26% of the stock is currently owned by institutional investors and hedge funds.
About Trustmark Corp.
Trustmark Corporation (Trustmark) is a bank holding company. Trustmark’s principal subsidiary is Trustmark National Bank (TNB). Through TNB and other subsidiaries, Trustmark operates as a financial services organization providing banking and other financial solutions through approximately 205 offices in Alabama, Florida, Mississippi, Tennessee and Texas.
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