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

Shares of Trustmark Co. (NASDAQ:TRMK - Get Free Report) have received a consensus rating of "Hold" from the five analysts that are covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $35.20.

TRMK has been the subject of a number of recent research reports. StockNews.com raised shares of Trustmark from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. Truist Financial upped their target price on shares of Trustmark from $35.00 to $36.00 and gave the company a "hold" rating in a research report on Friday, October 25th. Hovde Group raised their price target on Trustmark from $34.00 to $37.00 and gave the stock a "market perform" rating in a research report on Tuesday, October 29th. Finally, DA Davidson upped their price objective on Trustmark from $35.00 to $38.00 and gave the company a "neutral" rating in a report on Thursday, October 24th.

Trustmark Price Performance

Shares of NASDAQ TRMK traded down $2.04 during trading on Wednesday, reaching $34.98. The company had a trading volume of 488,843 shares, compared to its average volume of 280,961. Trustmark has a 52 week low of $25.24 and a 52 week high of $40.73. The business's 50 day moving average price is $36.83 and its 200-day moving average price is $33.26. The stock has a market cap of $2.14 billion, a PE ratio of 10.57 and a beta of 0.75. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $192.30 million for the quarter, compared to the consensus estimate of $192.77 million. During the same quarter in the prior year, the business earned $0.64 EPS. Analysts expect that Trustmark will post 2.94 earnings per share for the current year.

Trustmark Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.63%. The ex-dividend date was Friday, November 29th. Trustmark's payout ratio is presently 27.79%.

Insiders Place Their Bets

In related news, Director Marcelo L. Eduardo sold 790 shares of the company'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 completion of the transaction, the director now directly owns 7,334 shares of the company's stock, valued at approximately $263,217.26. This represents a 9.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gerard R. Host sold 26,416 shares of Trustmark stock in a transaction dated 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 completion of the sale, the director now directly owns 26,792 shares in the company, valued at $1,064,446.16. This represents a 49.65 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,206 shares of company stock worth $1,347,991. Corporate insiders own 1.50% of the company's stock.

Institutional Trading of Trustmark

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

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.