Trustmark Co. (NASDAQ:TRMK) Receives Average Recommendation of “Hold” from Analysts

Trustmark Co. (NASDAQ:TRMK) has been assigned an average rating of “Hold” from the five research firms that are presently 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 target price among brokers that have issued ratings on the stock in the last year is $35.20.

Several equities research analysts have issued reports on TRMK shares. Hovde Group raised their price target 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 lifted 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. StockNews.com raised shares of 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 stock a “hold” rating in a report on Friday, October 25th.

Insider Activity

In other Trustmark news, Director Marcelo L. Eduardo sold 790 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $35.89, for a total transaction of $28,353.10. Following the transaction, the director now owns 7,334 shares in the company, valued at $263,217.26. This trade represents a 9.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gerard R. Host sold 26,416 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $39.73, for a total value of $1,049,507.68. Following the sale, the director now owns 26,792 shares of the company’s stock, valued at approximately $1,064,446.16. The trade was a 49.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,206 shares of company stock worth $1,347,991. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Trustmark

Hedge funds and other institutional investors have recently made changes to their positions in the company. GoalVest Advisory LLC acquired a new stake in shares of Trustmark during the 3rd quarter worth approximately $63,000. Innealta Capital LLC bought a new stake in Trustmark during the second quarter worth $61,000. nVerses Capital LLC acquired a new stake in shares of Trustmark in the 3rd quarter valued at $67,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Trustmark in the 3rd quarter valued at $130,000. Finally, Blue Trust Inc. raised its holdings in shares of Trustmark by 225.2% during the 3rd quarter. Blue Trust Inc. now owns 4,953 shares of the financial services provider’s stock worth $149,000 after buying an additional 3,430 shares in the last quarter. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Trustmark Stock Up 3.1 %

Trustmark stock opened at $35.71 on Wednesday. Trustmark has a fifty-two week low of $25.24 and a fifty-two week high of $40.73. The firm has a market capitalization of $2.18 billion, a PE ratio of 10.79 and a beta of 0.75. The company’s 50-day moving average is $36.99 and its 200-day moving average is $33.40. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data 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 return on equity of 9.48% and a net margin of 17.62%. The firm had revenue of $192.30 million for the quarter, compared to analyst estimates of $192.77 million. During the same quarter in the prior year, the company earned $0.64 earnings per share. Sell-side analysts anticipate that Trustmark will post 2.94 earnings per share for the current year.

Trustmark Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.92 annualized dividend and a dividend yield of 2.58%. Trustmark’s dividend payout ratio is presently 27.79%.

Trustmark Company Profile

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.