Trustmark Corporation (NASDAQ:TRMK) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Trustmark Corporation (NASDAQ:TRMK) have been given an average recommendation of “Hold” by the five analysts that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $41.00.

A number of research analysts have issued reports on TRMK shares. Wall Street Zen downgraded shares of Trustmark from a “buy” rating to a “hold” rating in a research report on Saturday, June 7th. DA Davidson upped their price target on Trustmark from $39.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Finally, Hovde Group upped their price target on Trustmark from $37.00 to $41.00 and gave the company a “market perform” rating in a research note on Thursday, July 24th.

Insider Transactions at Trustmark

In other news, Director Marcelo L. Eduardo sold 700 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $38.49, for a total value of $26,943.00. Following the completion of the sale, the director directly owned 8,577 shares of the company’s stock, valued at $330,128.73. This represents a 7.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gerard R. Host sold 1,556 shares of the company’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $40.63, for a total value of $63,220.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,226 shares of company stock valued at $897,299. 1.50% of the stock is currently owned by company insiders.

Institutional Trading of Trustmark

A number of large investors have recently bought and sold shares of TRMK. EverSource Wealth Advisors LLC increased its stake in Trustmark by 452.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 1,022 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Trustmark during the 4th quarter worth approximately $47,000. IFP Advisors Inc bought a new stake in Trustmark during the 1st quarter worth approximately $51,000. State of Wyoming bought a new stake in Trustmark during the 1st quarter worth approximately $52,000. Finally, GAMMA Investing LLC increased its stake in Trustmark by 41.0% during the 1st quarter. GAMMA Investing LLC now owns 1,809 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 526 shares in the last quarter. 67.64% of the stock is owned by institutional investors.

Trustmark Stock Performance

Trustmark stock opened at $41.06 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. Trustmark has a 1 year low of $29.77 and a 1 year high of $41.33. The company has a market cap of $2.48 billion, a PE ratio of 11.53 and a beta of 0.71. The company’s 50-day moving average is $38.91 and its two-hundred day moving average is $36.04.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, July 22nd. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.06. Trustmark had a net margin of 19.21% and a return on equity of 10.81%. The company had revenue of $203.44 million for the quarter, compared to the consensus estimate of $200.35 million. During the same period in the prior year, the company posted $0.66 EPS. Equities analysts anticipate that Trustmark will post 3.42 earnings per share for the current year.

Trustmark Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 1st were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.3%. Trustmark’s dividend payout ratio is 26.97%.

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.