Trustmark (NASDAQ:TRMK) Upgraded at StockNews.com

Trustmark (NASDAQ:TRMK - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "sell" rating to a "hold" rating in a report released on Thursday.

A number of other equities analysts also recently commented on the stock. DA Davidson raised their target price on shares of Trustmark from $35.00 to $38.00 and gave the company a "neutral" rating in a research note on Thursday. Truist Financial cut their price objective on Trustmark from $37.00 to $35.00 and set a "hold" rating on the stock in a research report on Friday, September 20th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $34.50.

Trustmark Trading Up 0.1 %

NASDAQ:TRMK traded up $0.02 on Thursday, hitting $34.46. 257,169 shares of the stock were exchanged, compared to its average volume of 273,898. The stock has a fifty day moving average of $32.60 and a 200-day moving average of $30.90. The stock has a market cap of $2.11 billion, a PE ratio of 13.41 and a beta of 0.73. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. Trustmark has a fifty-two week low of $18.96 and a fifty-two week high of $35.75.

Trustmark (NASDAQ:TRMK - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.02. Trustmark had a return on equity of 9.32% and a net margin of 16.24%. The business had revenue of $192.30 million during the quarter, compared to analysts' expectations of $192.77 million. During the same quarter in the previous year, the business earned $0.64 EPS. As a group, equities analysts expect that Trustmark will post 2.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trustmark

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in Trustmark by 62.1% in the 2nd quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider's stock valued at $28,000 after buying an additional 351 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in Trustmark during the 1st quarter valued at approximately $52,000. Innealta Capital LLC purchased a new stake in Trustmark during the 2nd quarter worth approximately $61,000. nVerses Capital LLC acquired a new position in shares of Trustmark in the 3rd quarter valued at approximately $67,000. Finally, CWM LLC boosted its stake 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 valued at $144,000 after buying an additional 611 shares during the last quarter. Hedge funds and other institutional investors own 67.64% of the company's stock.

Trustmark Company Profile

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.

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