Trustmark (NASDAQ:TRMK) Stock Rating Upgraded by StockNews.com

Trustmark (NASDAQ:TRMK) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Saturday.

TRMK has been the subject of several other research reports. Keefe, Bruyette & Woods upgraded Trustmark from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $30.00 to $36.00 in a research note on Thursday. TheStreet upgraded Trustmark from a “c+” rating to a “b” rating in a research note on Tuesday, January 23rd. Piper Sandler reiterated a “neutral” rating and set a $29.00 price objective on shares of Trustmark in a research note on Tuesday, March 26th. Truist Financial boosted their price objective on Trustmark from $30.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday. Finally, DA Davidson boosted their price objective on Trustmark from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.75.

Trustmark Stock Performance

Shares of TRMK stock opened at $30.05 on Friday. The stock has a market cap of $1.84 billion, a PE ratio of 11.69 and a beta of 0.82. The business has a 50-day simple moving average of $26.83 and a 200-day simple moving average of $25.49. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. Trustmark has a 52-week low of $18.96 and a 52-week high of $30.21.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.08. The business had revenue of $288.55 million during the quarter, compared to analysts’ expectations of $187.03 million. Trustmark had a return on equity of 10.04% and a net margin of 13.82%. During the same quarter in the previous year, the firm posted $0.82 EPS. On average, equities analysts expect that Trustmark will post 2.44 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TRMK. Wellington Management Group LLP acquired a new position in Trustmark during the fourth quarter worth $12,572,000. Norges Bank purchased a new stake in shares of Trustmark during the fourth quarter worth $10,992,000. Federated Hermes Inc. increased its position in shares of Trustmark by 2,226.6% during the fourth quarter. Federated Hermes Inc. now owns 329,081 shares of the financial services provider’s stock worth $9,175,000 after acquiring an additional 314,937 shares during the period. Hsbc Holdings PLC purchased a new stake in shares of Trustmark during the fourth quarter worth $8,215,000. Finally, Verition Fund Management LLC purchased a new stake in shares of Trustmark during the fourth quarter worth $5,611,000. 67.64% of the stock is currently owned by institutional investors and hedge funds.

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.