Trustmark Co. (NASDAQ:TRMK) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Trustmark Co. (NASDAQ:TRMK) have received a consensus rating of “Hold” from the five brokerages that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $35.20.

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

Trustmark Price Performance

Shares of TRMK stock opened at $35.71 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The firm’s 50 day moving average is $36.99 and its 200-day moving average is $33.40. Trustmark has a 1 year low of $25.24 and a 1 year high of $40.73. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 10.79 and a beta of 0.75.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.02. The business had revenue of $192.30 million for the quarter, compared to analyst estimates of $192.77 million. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. During the same period in the prior year, the business posted $0.64 earnings per share. Sell-side analysts forecast that Trustmark will post 2.94 EPS for the current fiscal year.

Trustmark Announces Dividend

The business also recently declared 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 2.58%. The ex-dividend date was Friday, November 29th. Trustmark’s payout ratio is currently 27.79%.

Insider Activity

In other Trustmark news, Director Marcelo L. Eduardo sold 790 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 7,334 shares of the company’s stock, valued at $263,217.26. This represents a 9.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gerard R. Host sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $38.59, for a total transaction of $270,130.00. Following the transaction, the director now directly owns 16,500 shares of the company’s stock, valued at $636,735. This represents a 29.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,206 shares of company stock worth $1,347,991 over the last quarter. 1.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its position in Trustmark by 32.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,356,853 shares of the financial services provider’s stock worth $43,175,000 after buying an additional 333,390 shares in the last quarter. American Century Companies Inc. increased its position in shares of Trustmark by 25.3% in the second quarter. American Century Companies Inc. now owns 986,322 shares of the financial services provider’s stock valued at $29,629,000 after acquiring an additional 199,245 shares during the last quarter. Hanson & Doremus Investment Management bought a new stake in Trustmark during the second quarter worth about $4,199,000. Verition Fund Management LLC boosted its position in Trustmark by 19.8% during the third quarter. Verition Fund Management LLC now owns 778,312 shares of the financial services provider’s stock valued at $24,766,000 after purchasing an additional 128,834 shares during the last quarter. Finally, Earnest Partners LLC grew its stake in Trustmark by 3.1% in the second quarter. Earnest Partners LLC now owns 3,442,019 shares of the financial services provider’s stock valued at $103,398,000 after purchasing an additional 102,268 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

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.