Trustmark (NASDAQ:TRMK) Sets New 52-Week Low at $24.68

Trustmark Co. (NASDAQ:TRMK – Get Rating) hit a new 52-week low during trading on Wednesday . The stock traded as low as $24.68 and last traded at $24.94, with a volume of 30830 shares traded. The stock had previously closed at $25.70.

Analyst Ratings Changes

TRMK has been the topic of several research analyst reports. TheStreet lowered shares of Trustmark from a “b-” rating to a “c+” rating in a research report on Wednesday, March 8th. Piper Sandler decreased their price objective on shares of Trustmark from $36.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, January 26th. StockNews.com lowered shares of Trustmark from a “hold” rating to a “sell” rating in a research report on Wednesday. Truist Financial decreased their price objective on shares of Trustmark from $37.00 to $30.00 and set a “hold” rating on the stock in a research report on Wednesday, February 1st. Finally, Raymond James upgraded shares of Trustmark from a “market perform” rating to an “outperform” rating and set a $34.00 price objective on the stock in a research report on Tuesday, February 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $34.20.

Trustmark Stock Performance

The company has a market capitalization of $1.62 billion, a PE ratio of 22.96 and a beta of 0.80. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.80 and a current ratio of 0.81. The stock’s fifty day simple moving average is $30.33 and its 200-day simple moving average is $32.76.

Trustmark (NASDAQ:TRMK – Get Rating) last posted its quarterly earnings data on Tuesday, January 24th. The financial services provider reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.14). Trustmark had a net margin of 9.47% and a return on equity of 9.48%. The company had revenue of $225.13 million for the quarter, compared to analyst estimates of $196.87 million. During the same period in the prior year, the company earned $0.42 EPS. As a group, equities analysts predict that Trustmark Co. will post 2.47 earnings per share for the current year.

Trustmark Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date was Tuesday, February 28th. Trustmark’s dividend payout ratio is currently 79.31%.

Insider Activity

In related news, Director Tracy T. Conerly acquired 1,500 shares of the company’s stock in a transaction dated Friday, January 27th. The stock was bought at an average price of $28.24 per share, with a total value of $42,360.00. Following the purchase, the director now directly owns 1,500 shares in the company, valued at approximately $42,360. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Trustmark

A number of institutional investors and hedge funds have recently bought and sold shares of the business. SummerHaven Investment Management LLC increased its position in Trustmark by 1.2% during the 4th quarter. SummerHaven Investment Management LLC now owns 25,650 shares of the financial services provider’s stock worth $895,000 after purchasing an additional 310 shares in the last quarter. FMR LLC grew its position in Trustmark by 1.3% in the second quarter. FMR LLC now owns 27,900 shares of the financial services provider’s stock valued at $814,000 after acquiring an additional 349 shares in the last quarter. Advisor Group Holdings Inc. grew its position in Trustmark by 2.6% in the fourth quarter. Advisor Group Holdings Inc. now owns 15,097 shares of the financial services provider’s stock valued at $528,000 after acquiring an additional 389 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Trustmark by 1.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 23,981 shares of the financial services provider’s stock valued at $837,000 after acquiring an additional 399 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Trustmark by 1.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 31,861 shares of the financial services provider’s stock valued at $930,000 after acquiring an additional 410 shares in the last quarter. Institutional investors and hedge funds own 65.83% of the company’s stock.

Trustmark Company Profile

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Trustmark Corp. is a bank holding company, which engages in the provision of banking, wealth management and insurance solutions. It operates through the following segments: General Banking, Wealth Management, and Insurance. The General Banking segment offers traditional banking products and service. The Wealth Management segment provides integrated financial services and traditional banking products and services, such as private banking, money management, full-service brokerage, financial planning, personal and institutional trust, and retirement services.