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

Shares of Trustmark Co. (NASDAQ:TRMK) have been given a consensus recommendation of “Hold” by the five research firms that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $35.20.

A number of analysts have recently issued reports on the company. Truist Financial increased their target price on Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a report on Friday, October 25th. DA Davidson raised their price objective on Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Hovde Group upped their target price on Trustmark from $34.00 to $37.00 and gave the company 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 report on Thursday, October 24th.

Insiders Place Their Bets

In related news, Director Gerard R. Host sold 7,000 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were 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 directly owns 16,500 shares in the company, valued at approximately $636,735. This represents a 29.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Marcelo L. Eduardo sold 790 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $35.89, for a total value of $28,353.10. Following the sale, the director now owns 7,334 shares of the company’s stock, 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. Insiders sold 34,206 shares of company stock valued at $1,347,991 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. HB Wealth Management LLC boosted its holdings in Trustmark by 0.7% during the fourth quarter. HB Wealth Management LLC now owns 74,634 shares of the financial services provider’s stock valued at $2,640,000 after acquiring an additional 528 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Trustmark by 10.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 122,956 shares of the financial services provider’s stock worth $3,912,000 after purchasing an additional 11,934 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Trustmark by 6.8% during the 3rd quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider’s stock valued at $19,059,000 after purchasing an additional 37,989 shares during the period. Legacy Wealth Management LLC MS increased its position in Trustmark by 10.3% in the 3rd quarter. Legacy Wealth Management LLC MS now owns 10,700 shares of the financial services provider’s stock worth $340,000 after buying an additional 1,000 shares during the period. Finally, Synovus Financial Corp lifted its holdings in shares of 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 buying an additional 15,485 shares during the last quarter. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Trustmark Trading Down 1.0 %

NASDAQ:TRMK opened at $34.90 on Friday. The stock has a fifty day simple moving average of $37.01 and a 200 day simple moving average of $34.19. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 10.54 and a beta of 0.76. Trustmark has a 1-year low of $25.24 and a 1-year high of $40.73.

Trustmark (NASDAQ:TRMK) last released 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. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. The business had revenue of $192.30 million for the quarter, compared to the consensus estimate of $192.77 million. During the same period last year, the firm posted $0.64 earnings per share. Sell-side analysts forecast that Trustmark will post 2.96 earnings per share for the current year.

Trustmark Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.64%. The ex-dividend date was Friday, November 29th. Trustmark’s payout ratio is presently 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.