Trustmark (NASDAQ:TRMK) Share Price Passes Above Two Hundred Day Moving Average - What's Next?

Shares of Trustmark Co. (NASDAQ:TRMK - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 trading hands.

Analyst Upgrades and Downgrades

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

Trustmark Trading Down 0.3 %

The firm has a market capitalization of $2.10 billion, a PE ratio of 10.39 and a beta of 0.75. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. The company has a fifty day moving average of $37.19 and a 200-day moving average of $34.01.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.82 by $0.02. The company had revenue of $192.30 million during the quarter, compared to the consensus estimate of $192.77 million. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. During the same period last year, the business earned $0.64 EPS. On average, sell-side analysts anticipate that Trustmark Co. will post 2.94 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Friday, November 29th. Trustmark's dividend payout ratio (DPR) is presently 27.79%.

Insider Transactions at Trustmark

In other Trustmark news, Director Gerard R. Host sold 26,416 shares of the company's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $39.73, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Marcelo L. Eduardo sold 790 shares of the firm's stock in a transaction dated 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 sale, the director now directly owns 7,334 shares in the company, valued at approximately $263,217.26. This represents 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 worth $1,347,991 in the last 90 days. 1.50% of the stock is owned by insiders.

Institutional Trading of Trustmark

Several hedge funds have recently added to or reduced their stakes in TRMK. Harbor Capital Advisors Inc. increased its position in Trustmark by 2.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 17,356 shares of the financial services provider's stock worth $552,000 after buying an additional 415 shares during the period. Legacy Wealth Management LLC MS increased its position in Trustmark by 10.3% during the third quarter. Legacy Wealth Management LLC MS now owns 10,700 shares of the financial services provider's stock worth $340,000 after acquiring an additional 1,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Trustmark by 11.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,991 shares of the financial services provider's stock valued at $413,000 after purchasing an additional 1,381 shares during the last quarter. GoalVest Advisory LLC bought a new stake in Trustmark in the 3rd quarter valued at $63,000. Finally, nVerses Capital LLC bought a new stake in Trustmark in the 3rd quarter valued at $67,000. Institutional investors 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.