Trustmark Co. (NASDAQ:TRMK) Receives Consensus Rating of “Hold” from Analysts

Trustmark Co. (NASDAQ:TRMK) has been given a consensus rating of “Hold” by the five research firms that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $35.20.

Several equities analysts have recently commented on TRMK shares. Hovde Group upped their target price on Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. DA Davidson boosted their target price on shares of Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Truist Financial boosted their price objective on Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Finally, StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th.

Trustmark Trading Down 3.4 %

NASDAQ:TRMK opened at $33.21 on Friday. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 10.03 and a beta of 0.76. Trustmark has a one year low of $25.24 and a one year high of $40.73. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. The business’s 50-day simple moving average is $37.17 and its 200 day simple moving average is $34.04.

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 the consensus estimate of $0.82 by $0.02. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. The firm had revenue of $192.30 million for the quarter, compared to analysts’ expectations of $192.77 million. During the same period in the prior year, the company posted $0.64 earnings per share. As a group, sell-side analysts predict that Trustmark will post 2.94 earnings per share for the current fiscal 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 issued a $0.23 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.92 annualized dividend and a yield of 2.77%. Trustmark’s dividend payout ratio (DPR) is presently 27.79%.

Insider Buying and Selling at Trustmark

In other news, Director Marcelo L. Eduardo sold 790 shares of the stock in a transaction on 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 approximately $263,217.26. This represents a 9.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gerard R. Host sold 7,000 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $38.59, for a total transaction of $270,130.00. Following the completion of the transaction, the director now directly owns 16,500 shares of the company’s stock, valued at $636,735. This trade represents a 29.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,206 shares of company stock worth $1,347,991 over the last ninety days. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Trustmark

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in Trustmark by 10.7% in the third quarter. JPMorgan Chase & Co. now owns 122,956 shares of the financial services provider’s stock valued at $3,912,000 after buying an additional 11,934 shares during the period. Principal Financial Group Inc. grew its stake in shares of Trustmark by 6.8% during the third quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider’s stock worth $19,059,000 after purchasing an additional 37,989 shares during the period. Legacy Wealth Management LLC MS increased its holdings in Trustmark by 10.3% in the third quarter. Legacy Wealth Management LLC MS now owns 10,700 shares of the financial services provider’s stock valued at $340,000 after purchasing an additional 1,000 shares during the last quarter. Synovus Financial Corp lifted its stake in Trustmark by 101.4% in the third quarter. Synovus Financial Corp now owns 30,758 shares of the financial services provider’s stock valued at $979,000 after buying an additional 15,485 shares during the period. Finally, World Investment Advisors LLC bought a new position in Trustmark during the third quarter worth about $499,000. Institutional investors and hedge funds own 67.64% of the company’s stock.

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.