Trustmark Co. (NASDAQ:TRMK) Given Average Recommendation of “Hold” by Analysts

Trustmark Co. (NASDAQ:TRMK) has received a consensus recommendation of “Hold” from the five ratings firms that are presently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $35.20.

TRMK has been the subject of a number of analyst reports. Hovde Group boosted their target price on shares of Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Truist Financial upped their price objective on Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. DA Davidson raised their target price on Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Finally, StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th.

Insiders Place Their Bets

In other news, Director Gerard R. Host sold 7,000 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $38.59, for a total transaction of $270,130.00. Following the completion of the sale, the director now owns 16,500 shares in the company, valued at approximately $636,735. This represents a 29.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Marcelo L. Eduardo sold 790 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total value of $28,353.10. Following the completion of the transaction, the director now owns 7,334 shares in the company, valued at $263,217.26. This trade represents a 9.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,206 shares of company stock valued at $1,347,991 over the last quarter. Company insiders own 1.50% of the company’s stock.

Institutional Trading of Trustmark

Several hedge funds and other institutional investors have recently made changes to their positions in TRMK. GAMMA Investing LLC boosted its stake in shares of Trustmark by 62.1% in the second quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock valued at $28,000 after buying an additional 351 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Trustmark during the 1st quarter worth $52,000. Innealta Capital LLC purchased a new stake in shares of Trustmark during the 2nd quarter worth $61,000. GoalVest Advisory LLC acquired a new position in shares of Trustmark during the 3rd quarter worth $63,000. Finally, nVerses Capital LLC purchased a new position in shares of Trustmark in the 3rd quarter valued at about $67,000. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Trustmark Stock Up 2.8 %

Shares of NASDAQ TRMK opened at $39.28 on Friday. The stock has a market cap of $2.40 billion, a P/E ratio of 11.87 and a beta of 0.72. The business’s fifty day simple moving average is $34.45 and its 200-day simple moving average is $32.16. Trustmark has a 12-month low of $22.11 and a 12-month high of $40.60. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. The company had revenue of $192.30 million for the quarter, compared to analyst estimates of $192.77 million. During the same quarter last year, the company earned $0.64 EPS. As a group, equities analysts predict that Trustmark will post 2.94 EPS for the current fiscal year.

Trustmark Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be paid a dividend of $0.23 per share. The ex-dividend date is Friday, November 29th. This represents a $0.92 dividend on an annualized basis and a yield of 2.34%. Trustmark’s dividend payout ratio is presently 27.79%.

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 operates through three segments: General Banking, Wealth Management, and Insurance. It offers checking, savings, and money market accounts; certificates of deposits and individual retirement accounts; 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, as well as treasury management services.