Trustmark (NASDAQ:TRMK) Rating Lowered to Sell at StockNews.com

Trustmark (NASDAQ:TRMK) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Monday.

Several other equities research analysts also recently issued reports on TRMK. Truist Financial cut their price objective on Trustmark from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Friday, September 20th. DA Davidson boosted their price objective on Trustmark from $34.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $34.50.

Trustmark Price Performance

NASDAQ:TRMK opened at $31.97 on Monday. Trustmark has a 52 week low of $18.96 and a 52 week high of $35.72. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $1.96 billion, a P/E ratio of 12.44 and a beta of 0.74. The stock’s fifty day moving average is $32.60 and its two-hundred day moving average is $30.02.

Trustmark (NASDAQ:TRMK) last posted its earnings results on Tuesday, July 23rd. The financial services provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. The company had revenue of $283.96 million for the quarter, compared to the consensus estimate of $229.83 million. Trustmark had a return on equity of 9.32% and a net margin of 16.24%. During the same quarter in the previous year, the business earned $0.74 earnings per share. Equities analysts expect that Trustmark will post 2.93 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its position in shares of Trustmark by 62.1% during the 2nd quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 351 shares in the last quarter. EntryPoint Capital LLC acquired a new position in shares of Trustmark during the 1st quarter worth about $52,000. Innealta Capital LLC acquired a new position in shares of Trustmark during the 2nd quarter worth about $61,000. CWM LLC boosted its position in shares of Trustmark by 14.6% during the 2nd quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock worth $144,000 after acquiring an additional 611 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. acquired a new position in shares of Trustmark during the 2nd quarter worth about $238,000. 67.64% of the stock is owned by institutional investors and hedge funds.

About Trustmark

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.