Morgan Keegan Maintains Outperform on Trustmark (TMRK)

Morgan Keegan is out with its report today on Trustmark TRMK, maintaining Outperform. In a note to clients, Morgan Keegan writes, "TRMK shares remain undervalued despite its solid balance sheet position, strong PTPP earnings and below average credit risk. At 12.3x our 2012 EPS estimate shares trade at a 13% discount to the 14.1x median of the MK small-cap banks.TRMK also offers an extremely attractive 3.9% dividend yield, almost double the 2.1% median of peers." Morgan Keegan has a $27 PT on TRMK. Shares of TRMK closed Friday at $23.34.