Wall Street Zen Downgrades Trustmark (NASDAQ:TRMK) to Sell

Trustmark (NASDAQ:TRMK) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other research firms have also recently weighed in on TRMK. Weiss Ratings raised Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 1st. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $45.00 target price on shares of Trustmark in a report on Thursday, April 9th. Piper Sandler raised their target price on shares of Trustmark from $45.50 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, DA Davidson lifted their price target on shares of Trustmark from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $46.12.

Trustmark Price Performance

NASDAQ TRMK opened at $47.45 on Friday. The company has a market capitalization of $2.78 billion, a PE ratio of 12.04 and a beta of 0.65. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.89. The business’s fifty day moving average is $45.65 and its 200 day moving average is $44.05. Trustmark has a fifty-two week low of $36.05 and a fifty-two week high of $48.00.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.01. The business had revenue of $213.38 million during the quarter, compared to analyst estimates of $210.30 million. Trustmark had a return on equity of 10.69% and a net margin of 20.75%.Trustmark’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.92 earnings per share. Sell-side analysts predict that Trustmark will post 3.93 earnings per share for the current year.

Institutional Investors Weigh In On Trustmark

Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its position in shares of Trustmark by 27.0% during the first quarter. Royal Bank of Canada now owns 22,127 shares of the financial services provider’s stock valued at $764,000 after buying an additional 4,701 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Trustmark by 230.8% during the first quarter. AQR Capital Management LLC now owns 97,234 shares of the financial services provider’s stock worth $3,327,000 after acquiring an additional 67,841 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Trustmark by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,217 shares of the financial services provider’s stock valued at $1,249,000 after acquiring an additional 1,592 shares in the last quarter. Millennium Management LLC grew its stake in Trustmark by 12.4% during the first quarter. Millennium Management LLC now owns 197,652 shares of the financial services provider’s stock valued at $6,817,000 after acquiring an additional 21,866 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Trustmark by 17.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 470,756 shares of the financial services provider’s stock valued at $16,236,000 after acquiring an additional 69,110 shares during the last quarter. 67.64% of the stock is owned by hedge funds and other institutional investors.

About Trustmark

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.