Trustmark Co. (NASDAQ:TRMK) Director Sells $1,049,507.68 in Stock

Trustmark Co. (NASDAQ:TRMK) Director Gerard R. Host sold 26,416 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 26,792 shares of the company’s stock, valued at $1,064,446.16. The trade was a 49.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Trustmark Trading Down 0.2 %

Shares of TRMK opened at $38.15 on Friday. Trustmark Co. has a fifty-two week low of $22.11 and a fifty-two week high of $40.60. The business has a 50-day moving average of $33.93 and a 200 day moving average of $31.96. The firm has a market cap of $2.33 billion, a P/E ratio of 11.53 and a beta of 0.72. 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) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.02. The firm had revenue of $192.30 million during the quarter, compared to the consensus estimate of $192.77 million. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. During the same quarter last year, the company earned $0.64 earnings per share. As a group, research analysts forecast that Trustmark Co. will post 2.93 EPS for the current year.

Trustmark Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.92 annualized dividend and a dividend yield of 2.41%. Trustmark’s dividend payout ratio is currently 27.79%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Trustmark

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in shares of Trustmark by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,461,545 shares of the financial services provider’s stock valued at $46,515,000 after purchasing an additional 15,627 shares during the period. Barclays PLC grew its holdings in Trustmark by 124.7% during the 3rd quarter. Barclays PLC now owns 125,743 shares of the financial services provider’s stock valued at $4,001,000 after buying an additional 69,779 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Trustmark in the third quarter worth about $212,000. Wellington Management Group LLP boosted its position in shares of Trustmark by 32.6% in the third quarter. Wellington Management Group LLP now owns 1,356,853 shares of the financial services provider’s stock valued at $43,175,000 after acquiring an additional 333,390 shares during the period. Finally, State Street Corp grew its stake in Trustmark by 0.8% during the third quarter. State Street Corp now owns 3,090,988 shares of the financial services provider’s stock valued at $98,355,000 after acquiring an additional 24,450 shares in the last quarter. 67.64% 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 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.