Insider Selling: Trustmark (NASDAQ:TRMK) Director Sells 20,970 Shares of Stock

Key Points

• Director Gerard Host sold 20,970 shares of Trustmark Corporation stock at an average price of $38.49, totaling approximately $807,135.30.
• Trustmark recently reported earnings of $0.92 per share, exceeding analyst estimates, with revenue of $203.44 million for the quarter.
• The company declared a quarterly dividend of $0.24 per share, with a dividend yield of 2.5%, to be paid on September 15th.

Trustmark Corporation (NASDAQ:TRMK - Get Free Report) Director Gerard R. Host sold 20,970 shares of Trustmark stock in a transaction on Monday, August 18th. The stock was sold at an average price of $38.49, for a total transaction of $807,135.30. Following the sale, the director owned 158,360 shares in the company, valued at $6,095,276.40. This represents a 11.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Trustmark Stock Performance

TRMK traded up $1.97 on Friday, reaching $40.35. The company had a trading volume of 372,263 shares, compared to its average volume of 256,709. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. Trustmark Corporation has a 1 year low of $29.77 and a 1 year high of $40.73. The stock has a market capitalization of $2.44 billion, a PE ratio of 11.33 and a beta of 0.70. The stock has a 50-day moving average price of $37.43 and a 200-day moving average price of $35.65.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.86 by $0.06. The business had revenue of $203.44 million for the quarter, compared to analysts' expectations of $200.35 million. Trustmark had a return on equity of 10.81% and a net margin of 19.21%.During the same quarter in the previous year, the firm earned $0.66 earnings per share. As a group, research analysts forecast that Trustmark Corporation will post 3.42 EPS for the current fiscal year.

Trustmark Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, August 29th. Trustmark's dividend payout ratio is presently 26.97%.

Hedge Funds Weigh In On Trustmark

Several institutional investors have recently bought and sold shares of TRMK. Envestnet Asset Management Inc. lifted its stake in shares of Trustmark by 4.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 208,316 shares of the financial services provider's stock worth $7,368,000 after acquiring an additional 9,475 shares during the period. Bank of Montreal Can purchased a new position in Trustmark during the fourth quarter worth about $235,000. Renaissance Technologies LLC purchased a new position in Trustmark during the fourth quarter worth about $1,887,000. Raymond James Financial Inc. purchased a new stake in Trustmark in the 4th quarter valued at approximately $1,145,000. Finally, Sterling Capital Management LLC boosted its holdings in Trustmark by 817.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,918 shares of the financial services provider's stock valued at $68,000 after purchasing an additional 1,709 shares in the last quarter. 67.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on TRMK shares. DA Davidson lifted their target price on shares of Trustmark from $39.00 to $43.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Hovde Group lifted their price objective on shares of Trustmark from $37.00 to $41.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th. Finally, Wall Street Zen lowered shares of Trustmark from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Trustmark currently has a consensus rating of "Hold" and a consensus price target of $41.00.

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.