Trustmark Corp (NASDAQ:TRMK) Receives Consensus Recommendation of “Hold” from Analysts

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Shares of Trustmark Corp (NASDAQ:TRMK) have been assigned an average rating of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $32.33.

Several research firms have recently weighed in on TRMK. ValuEngine raised shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Wednesday, October 9th. BidaskClub raised shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Zacks Investment Research raised shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Friday.

Shares of Trustmark stock traded down $0.16 on Monday, hitting $34.03. 4,168 shares of the company traded hands, compared to its average volume of 293,716. The stock’s 50 day moving average price is $33.56 and its 200-day moving average price is $33.70. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 0.04. Trustmark has a 52 week low of $26.84 and a 52 week high of $36.63. The company has a market cap of $2.19 billion, a PE ratio of 15.42 and a beta of 1.10.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.08. Trustmark had a net margin of 21.20% and a return on equity of 9.28%. The firm had revenue of $157.40 million during the quarter, compared to the consensus estimate of $156.35 million. During the same quarter in the previous year, the firm posted $0.59 earnings per share. As a group, research analysts anticipate that Trustmark will post 2.34 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Thursday, August 29th. Trustmark’s dividend payout ratio (DPR) is 41.63%.

In related news, insider Breck W. Tyler sold 19,398 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $33.70, for a total value of $653,712.60. Following the completion of the transaction, the insider now owns 23,656 shares of the company’s stock, valued at $797,207.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.50% of the company’s stock.

Large investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC bought a new position in Trustmark in the second quarter worth approximately $49,000. Parallel Advisors LLC raised its stake in Trustmark by 41.5% in the second quarter. Parallel Advisors LLC now owns 5,476 shares of the financial services provider’s stock worth $182,000 after buying an additional 1,607 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Trustmark during the second quarter worth $201,000. Gofen & Glossberg LLC IL acquired a new position in shares of Trustmark during the third quarter worth $205,000. Finally, Aptus Capital Advisors LLC acquired a new position in shares of Trustmark during the second quarter worth $259,000. 66.71% of the stock is owned by institutional investors.

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 offers checking, savings, and money market accounts; individual retirement accounts; certificates of deposits; 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.

Further Reading: Dividend Aristocrat Index

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