Trustmark (TRMK) PT Lowered to $31.00 at SunTrust Banks

Trustmark (NASDAQ:TRMK) had its price target cut by SunTrust Banks from $36.00 to $31.00 in a research note issued to investors on Monday morning. They currently have a hold rating on the financial services provider’s stock.

Other equities analysts have also recently issued reports about the stock. BidaskClub cut shares of Trustmark from a buy rating to a hold rating in a report on Saturday, August 25th. Sandler O’Neill restated a hold rating and set a $35.00 price target on shares of Trustmark in a report on Thursday, July 26th. Hovde Group set a $35.00 price target on shares of Trustmark and gave the company a hold rating in a report on Saturday, July 28th. Zacks Investment Research cut shares of Trustmark from a hold rating to a sell rating in a report on Thursday, October 11th. Finally, ValuEngine cut shares of Trustmark from a hold rating to a sell rating in a report on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $34.50.

Shares of NASDAQ:TRMK opened at $30.80 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.79 and a current ratio of 0.81. Trustmark has a 12-month low of $28.56 and a 12-month high of $36.32. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 16.04 and a beta of 0.97.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, October 23rd. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.03). Trustmark had a net margin of 18.99% and a return on equity of 9.21%. The company had revenue of $157.23 million for the quarter, compared to analysts’ expectations of $155.38 million. During the same quarter in the prior year, the firm earned $0.51 earnings per share. The company’s revenue was up 2.5% on a year-over-year basis. On average, sell-side analysts forecast that Trustmark will post 2.22 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, December 15th. Investors of record on Saturday, December 1st will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Thursday, November 29th. Trustmark’s dividend payout ratio is presently 47.92%.

A number of large investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System boosted its holdings in Trustmark by 9.4% in the third quarter. State Board of Administration of Florida Retirement System now owns 60,288 shares of the financial services provider’s stock worth $2,029,000 after purchasing an additional 5,200 shares in the last quarter. WBI Investments Inc. bought a new stake in Trustmark in the third quarter worth $1,668,000. Acadian Asset Management LLC bought a new stake in Trustmark in the third quarter worth $385,000. Creative Planning boosted its holdings in Trustmark by 45.0% in the third quarter. Creative Planning now owns 10,067 shares of the financial services provider’s stock worth $339,000 after purchasing an additional 3,124 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in Trustmark by 5.7% in the third quarter. First Trust Advisors LP now owns 134,314 shares of the financial services provider’s stock worth $4,520,000 after purchasing an additional 7,222 shares in the last quarter. Hedge funds and other institutional investors own 62.16% 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 offers checking, savings, and money market accounts; individual retirement accounts; certificates of deposits; 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.

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Analyst Recommendations for Trustmark (NASDAQ:TRMK)

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