Keefe, Bruyette & Woods Downgrades Trustmark (TRMK) to Underperform; Cutting Estimates & PT

Keefe, Bruyette & Woods downgraded Trustmark (NASDAQ: TRMK) to Underperform, price target cut from $23 to $21.

KBW analyst says, "4Q11 results missed consensus by 3c & core earnings (PTPP ROA) power declined meaningfully, thus we are reducing our '12 & '13 EPS estimates by $0.07 to $1.58 & $0.13 to $1.72. With the reduced cash flows we are lowering our price target to $21. While we believe TRMK is a quality franchise we believe the shares are currently fully valued and thus are lowering our rating."

For an analyst ratings summary and ratings history on Trustmark click here. For more ratings news on Trustmark click here.

Shares of Trustmark closed at $24.63 yesterday.

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