Zacks Investment Research upgraded shares of Trustmark (NASDAQ:TRMK) from a hold rating to a buy rating in a research note released on Wednesday morning, reports. The firm currently has $39.00 price objective on the financial services provider’s stock.

According to Zacks, “Trustmark Corporation is a multi-bank holding company. Its primary business activities are conducted through its wholly-owned subsidiary, Trustmark National Bank and Trustmark National Bank’s wholly-owned nonbanking subsidiaries, Trustmark Financial Services, Inc. and Trustmark Insurance Agency, Inc. Trustmark National Bank accounts for substantially all of the assets and revenues of the company. “

Separately, BidaskClub upgraded Trustmark from a strong sell rating to a sell rating in a report on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Trustmark presently has an average rating of Hold and an average price target of $34.00.

NASDAQ TRMK opened at $34.13 on Wednesday. The stock has a market cap of $2.20 billion, a PE ratio of 15.17 and a beta of 1.10. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 0.04. Trustmark has a twelve month low of $26.84 and a twelve month high of $36.63. The stock has a fifty day simple moving average of $33.66 and a 200-day simple moving average of $33.76.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.08. The business had revenue of $157.40 million during the quarter, compared to analysts’ expectations of $156.35 million. Trustmark had a return on equity of 9.28% and a net margin of 21.20%. During the same period in the prior year, the business posted $0.59 EPS. Research analysts predict that Trustmark will post 2.34 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date was Thursday, August 29th. Trustmark’s dividend payout ratio (DPR) is 41.63%.

In related news, insider Breck W. Tyler sold 19,398 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $33.70, for a total transaction of $653,712.60. Following the completion of the transaction, the insider now directly owns 23,656 shares in the company, valued at approximately $797,207.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.50% of the company’s stock.

A number of institutional investors have recently made changes to their positions in TRMK. JPMorgan Chase & Co. boosted its holdings in Trustmark by 110.9% during the 1st quarter. JPMorgan Chase & Co. now owns 1,543,380 shares of the financial services provider’s stock valued at $51,904,000 after acquiring an additional 811,674 shares during the period. Nuveen Asset Management LLC purchased a new position in Trustmark during the 2nd quarter valued at about $10,426,000. APG Asset Management N.V. boosted its holdings in Trustmark by 176.0% during the 2nd quarter. APG Asset Management N.V. now owns 420,600 shares of the financial services provider’s stock valued at $12,280,000 after acquiring an additional 268,200 shares during the period. Acadian Asset Management LLC boosted its holdings in Trustmark by 64.9% during the 2nd quarter. Acadian Asset Management LLC now owns 553,850 shares of the financial services provider’s stock valued at $18,416,000 after acquiring an additional 217,956 shares during the period. Finally, Invesco Ltd. boosted its holdings in Trustmark by 7.2% during the 2nd quarter. Invesco Ltd. now owns 1,161,403 shares of the financial services provider’s stock valued at $38,617,000 after acquiring an additional 77,956 shares during the period. Institutional investors own 66.67% of the company’s stock.

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 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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