Trustmark (NASDAQ:TRMK) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Trustmark Co. (NASDAQ:TRMK)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $34.00 and traded as high as $34.72. Trustmark shares last traded at $34.38, with a volume of 257,309 shares.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Hovde Group lifted their price target on shares of Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. DA Davidson boosted their target price on Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Truist Financial boosted their price objective on Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Trustmark has an average rating of “Hold” and a consensus target price of $35.20.

Trustmark Price Performance

The stock has a market capitalization of $2.10 billion, a P/E ratio of 10.39 and a beta of 0.75. The business has a fifty day simple moving average of $37.21 and a 200 day simple moving average of $34.00. 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 announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.02. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. The business had revenue of $192.30 million during the quarter, compared to the consensus estimate of $192.77 million. During the same quarter in the prior year, the company posted $0.64 earnings per share. On average, analysts expect that Trustmark Co. will post 2.94 earnings per share for the current year.

Trustmark Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend was Friday, November 29th. Trustmark’s payout ratio is currently 27.79%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TRMK. Wellington Management Group LLP lifted its stake in Trustmark by 32.6% in the third quarter. Wellington Management Group LLP now owns 1,356,853 shares of the financial services provider’s stock valued at $43,175,000 after purchasing an additional 333,390 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Trustmark by 25.3% in the second quarter. American Century Companies Inc. now owns 986,322 shares of the financial services provider’s stock valued at $29,629,000 after buying an additional 199,245 shares during the period. Hanson & Doremus Investment Management purchased a new position in shares of Trustmark during the 2nd quarter valued at $4,199,000. Verition Fund Management LLC grew its stake in shares of Trustmark by 19.8% during the 3rd quarter. Verition Fund Management LLC now owns 778,312 shares of the financial services provider’s stock worth $24,766,000 after acquiring an additional 128,834 shares during the period. Finally, Earnest Partners LLC raised its stake in Trustmark by 3.1% in the 2nd quarter. Earnest Partners LLC now owns 3,442,019 shares of the financial services provider’s stock valued at $103,398,000 after acquiring an additional 102,268 shares during the period. 67.64% of the stock is owned by institutional investors.

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.