Trustmark Corporation (TRMK) Lowered to Hold at ValuEngine
ValuEngine lowered shares of Trustmark Corporation (NASDAQ:TRMK) from a buy rating to a hold rating in a research report released on Thursday morning.
Several other research analysts also recently weighed in on the company. BidaskClub downgraded Trustmark Corporation from a hold rating to a sell rating in a research note on Wednesday, July 19th. Zacks Investment Research upgraded Trustmark Corporation from a hold rating to a buy rating and set a $34.00 price target for the company in a research note on Wednesday, September 20th. Stephens set a $35.00 price target on Trustmark Corporation and gave the stock a hold rating in a research note on Wednesday, July 26th. Jefferies Group LLC reiterated a hold rating and set a $36.00 price target on shares of Trustmark Corporation in a research note on Thursday, October 12th. Finally, Keefe, Bruyette & Woods reiterated a hold rating and set a $34.00 price target on shares of Trustmark Corporation in a research note on Thursday, October 26th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $34.40.
Shares of Trustmark Corporation (NASDAQ:TRMK) traded down $0.06 during trading hours on Thursday, reaching $31.54. The company’s stock had a trading volume of 174,629 shares, compared to its average volume of 291,326. The company has a market cap of $2,140.00, a P/E ratio of 16.95 and a beta of 1.16. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.76 and a quick ratio of 0.74. Trustmark Corporation has a 52-week low of $28.16 and a 52-week high of $36.79.
Trustmark Corporation (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The firm had revenue of $153.37 million during the quarter, compared to the consensus estimate of $154.40 million. Trustmark Corporation had a return on equity of 8.21% and a net margin of 18.56%. During the same quarter in the prior year, the company earned $0.47 EPS. sell-side analysts forecast that Trustmark Corporation will post 1.91 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.92%. Trustmark Corporation’s payout ratio is 52.57%.
Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Trustmark Corporation by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 5,625,905 shares of the financial services provider’s stock worth $180,929,000 after acquiring an additional 116,857 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Trustmark Corporation by 3.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,033,036 shares of the financial services provider’s stock worth $161,864,000 after acquiring an additional 189,873 shares during the period. Wells Fargo & Company MN lifted its holdings in Trustmark Corporation by 3.0% during the 3rd quarter. Wells Fargo & Company MN now owns 2,321,125 shares of the financial services provider’s stock worth $76,875,000 after purchasing an additional 67,258 shares in the last quarter. Northern Trust Corp lifted its holdings in Trustmark Corporation by 1.4% during the 2nd quarter. Northern Trust Corp now owns 2,129,605 shares of the financial services provider’s stock worth $68,489,000 after purchasing an additional 30,321 shares in the last quarter. Finally, Earnest Partners LLC lifted its holdings in Trustmark Corporation by 16.9% during the 2nd quarter. Earnest Partners LLC now owns 2,026,880 shares of the financial services provider’s stock worth $65,184,000 after purchasing an additional 292,290 shares in the last quarter. Institutional investors own 62.29% of the company’s stock.
About Trustmark Corporation
Trustmark Corporation is a bank holding company. The Company’s principal subsidiary is Trustmark National Bank (TNB). Through TNB and its subsidiaries, the Company operates as a financial services company providing banking and other financial solutions. It operates through three segments: General Banking, Wealth Management and Insurance.
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