Trustmark Co. (NASDAQ:TRMK) Given Average Rating of “Hold” by Brokerages

by · The Markets Daily

Trustmark Co. (NASDAQ:TRMK – Get Free Report) has earned a consensus recommendation of “Hold” from the five analysts that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $35.20.

Several equities research analysts have commented on the stock. DA Davidson increased their price objective on shares of Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a research note 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 research report on Friday, October 25th. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Hovde Group increased their price target 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.

View Our Latest Research Report on Trustmark

Trustmark Trading Down 0.3 %

Shares of Trustmark stock opened at $39.68 on Friday. The company has a market capitalization of $2.43 billion, a P/E ratio of 12.02 and a beta of 0.72. The stock has a fifty day simple moving average of $34.88 and a 200 day simple moving average of $32.37. Trustmark has a 12-month low of $22.11 and a 12-month high of $40.73. 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 – Get Free Report) last posted its 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 net margin of 17.62% and a return on equity of 9.48%. The firm had revenue of $192.30 million during the quarter, compared to analyst estimates of $192.77 million. During the same quarter in the prior year, the business posted $0.64 EPS. On average, sell-side analysts anticipate that Trustmark will post 2.94 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.92 dividend on an annualized basis and a yield of 2.32%. Trustmark’s dividend payout ratio is presently 27.79%.

Insider Activity

In other news, Director Gerard R. Host sold 7,000 shares of Trustmark stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $38.59, for a total value of $270,130.00. Following the completion of the transaction, the director now directly owns 16,500 shares in the company, valued at approximately $636,735. The trade was a 29.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Marcelo L. Eduardo sold 790 shares of the business’s 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 sale, the director now owns 7,334 shares in the company, valued at approximately $263,217.26. The trade was a 9.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,206 shares of company stock valued at $1,347,991 over the last quarter. Company insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new position in shares of Trustmark in the first quarter valued at approximately $240,000. ProShare Advisors LLC boosted its holdings in Trustmark by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 12,277 shares of the financial services provider’s stock valued at $345,000 after purchasing an additional 844 shares during the period. State Board of Administration of Florida Retirement System grew its position in shares of Trustmark by 101.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 35,048 shares of the financial services provider’s stock valued at $985,000 after purchasing an additional 17,670 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Trustmark by 6.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 54,949 shares of the financial services provider’s stock worth $1,542,000 after purchasing an additional 3,492 shares during the period. Finally, EntryPoint Capital LLC purchased a new stake in shares of Trustmark in the first quarter worth $52,000. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Trustmark Company Profile

(Get Free Report

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.

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