Trustmark (NASDAQ:TRMK) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Shares of Trustmark Corporation (NASDAQ:TRMK) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $40.07 and traded as high as $43.27. Trustmark shares last traded at $43.11, with a volume of 457,056 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have commented on TRMK shares. DA Davidson raised their target price on shares of Trustmark from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. Hovde Group boosted their price objective on shares of Trustmark from $42.00 to $44.50 and gave the stock a “market perform” rating in a research note on Thursday, January 29th. Wall Street Zen lowered Trustmark from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $43.83.

Trustmark Price Performance

The company has a market cap of $2.58 billion, a PE ratio of 11.62 and a beta of 0.69. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.87. The stock’s 50-day moving average is $41.78 and its 200 day moving average is $40.07.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. Trustmark had a return on equity of 10.77% and a net margin of 19.95%.The business had revenue of $209.44 million for the quarter, compared to the consensus estimate of $207.05 million. During the same period in the prior year, the firm posted $0.92 earnings per share. On average, equities analysts anticipate that Trustmark Corporation will post 3.42 earnings per share for the current fiscal year.

Trustmark Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 15th. Shareholders of record on Sunday, March 1st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.3%. This is a boost from Trustmark’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, February 27th. Trustmark’s dividend payout ratio (DPR) is 25.88%.

Institutional Investors Weigh In On Trustmark

A number of large investors have recently modified their holdings of the business. IFP Advisors Inc raised its position in shares of Trustmark by 24.1% in the 3rd quarter. IFP Advisors Inc now owns 1,375 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 267 shares during the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of Trustmark by 0.9% in the fourth quarter. Wedge Capital Management L L P NC now owns 29,552 shares of the financial services provider’s stock worth $1,151,000 after buying an additional 269 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Trustmark by 37.4% in the third quarter. Bessemer Group Inc. now owns 1,073 shares of the financial services provider’s stock worth $42,000 after buying an additional 292 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Trustmark by 0.6% during the second quarter. California State Teachers Retirement System now owns 53,630 shares of the financial services provider’s stock worth $1,955,000 after buying an additional 313 shares during the period. Finally, Richardson Financial Services Inc. grew its holdings in shares of Trustmark by 86.7% during the third quarter. Richardson Financial Services Inc. now owns 743 shares of the financial services provider’s stock valued at $29,000 after buying an additional 345 shares during the last quarter. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Trustmark Company Profile

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.