Trustmark Co. (NASDAQ:TRMK) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Trustmark Co. (NASDAQ:TRMK) have been given a consensus recommendation of “Hold” by the five analysts that are presently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $35.20.

A number of equities analysts recently issued reports on TRMK shares. DA Davidson raised their price objective on shares of Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Hovde Group boosted their price objective on shares of Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Truist Financial boosted their price objective on shares of Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a research report on Friday, October 25th. 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 26,416 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $39.73, for a total value of $1,049,507.68. Following the transaction, the director now owns 26,792 shares of the company’s stock, valued at approximately $1,064,446.16. The trade was a 49.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Marcelo L. Eduardo sold 790 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $35.89, for a total transaction of $28,353.10. Following the transaction, the director now owns 7,334 shares of the company’s stock, valued at approximately $263,217.26. This represents a 9.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,206 shares of company stock worth $1,347,991. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System boosted its stake in Trustmark by 2.0% during the second quarter. Louisiana State Employees Retirement System now owns 30,800 shares of the financial services provider’s stock valued at $925,000 after buying an additional 600 shares during the last quarter. Bank of New York Mellon Corp increased its position in Trustmark by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 685,875 shares of the financial services provider’s stock worth $20,604,000 after purchasing an additional 2,714 shares during the last quarter. Smith Shellnut Wilson LLC ADV bought a new stake in Trustmark in the second quarter worth $287,000. Innealta Capital LLC purchased a new stake in Trustmark during the second quarter valued at $61,000. Finally, Natixis Advisors LLC bought a new position in Trustmark during the second quarter valued at $329,000. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Trustmark Stock Performance

TRMK stock opened at $37.02 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. Trustmark has a 1 year low of $25.24 and a 1 year high of $40.73. The company has a market cap of $2.26 billion, a P/E ratio of 11.18 and a beta of 0.75. The stock’s fifty day moving average price is $36.72 and its 200-day moving average price is $33.21.

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

Trustmark Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 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 2.49%. The ex-dividend date was Friday, November 29th. Trustmark’s dividend payout ratio (DPR) is 27.79%.

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 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.