Trustmark Co. (NASDAQ:TRMK) Receives Consensus Recommendation of “Hold” from Brokerages

Trustmark Co. (NASDAQ:TRMK) has earned an average rating of “Hold” from the five brokerages that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $35.20.

A number of equities research analysts recently commented on the company. DA Davidson increased their price target on Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Truist Financial increased their target price on shares of Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a report on Friday, October 25th. Hovde Group boosted their price target on shares of Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Finally, StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th.

Insiders Place Their Bets

In other Trustmark news, Director Gerard R. Host sold 7,000 shares of the business’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 value of $270,130.00. Following the completion of the sale, the director now owns 16,500 shares in the company, valued at approximately $636,735. The trade was a 29.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the sale, the director now directly owns 7,334 shares in the company, valued at approximately $263,217.26. This trade represents a 9.72 % 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 valued at $1,347,991. 1.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in Trustmark by 6.8% during the third quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider’s stock valued at $19,059,000 after buying an additional 37,989 shares during the period. Legacy Wealth Management LLC MS lifted its position in Trustmark by 10.3% during the 3rd quarter. Legacy Wealth Management LLC MS now owns 10,700 shares of the financial services provider’s stock valued at $340,000 after acquiring an additional 1,000 shares during the period. Synovus Financial Corp boosted its stake in Trustmark by 101.4% during the third quarter. Synovus Financial Corp now owns 30,758 shares of the financial services provider’s stock worth $979,000 after acquiring an additional 15,485 shares in the last quarter. World Investment Advisors LLC bought a new stake in Trustmark during the third quarter worth about $499,000. Finally, Geode Capital Management LLC grew its holdings in Trustmark by 1.1% in the third quarter. Geode Capital Management LLC now owns 1,461,545 shares of the financial services provider’s stock worth $46,515,000 after purchasing an additional 15,627 shares during the period. Institutional investors own 67.64% of the company’s stock.

Trustmark Trading Up 0.9 %

NASDAQ:TRMK opened at $36.12 on Wednesday. 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 has a one year low of $25.24 and a one year high of $40.73. The company has a market cap of $2.21 billion, a PE ratio of 10.91 and a beta of 0.75. The firm has a 50-day moving average of $37.04 and a 200-day moving average of $33.46.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $192.77 million. During the same period in the previous year, the company posted $0.64 EPS. As a group, equities research analysts expect that Trustmark will post 2.94 EPS for the current fiscal year.

Trustmark Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend was Friday, November 29th. Trustmark’s payout ratio is currently 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.