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 the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $38.49, for a total transaction of $807,135.30. Following the completion of the transaction, the director directly owned 158,360 shares of the company's stock, valued at approximately $6,095,276.40. The trade was a 11.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Trustmark Stock Up 4.7%

Shares of NASDAQ TRMK traded up $1.8050 during midday trading on Friday, hitting $40.1850. The company's stock had a trading volume of 168,743 shares, compared to its average volume of 315,881. The business's fifty day simple moving average is $37.31 and its two-hundred day simple moving average is $35.65. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.86. Trustmark Corporation has a 1 year low of $29.77 and a 1 year high of $40.73. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 11.28 and a beta of 0.70.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.86 by $0.06. The business had revenue of $203.44 million during the quarter, compared to analyst estimates of $200.35 million. Trustmark had a net margin of 19.21% and a return on equity of 10.81%. During the same quarter last year, the firm posted $0.66 earnings per share. On average, equities analysts predict that Trustmark Corporation will post 3.42 EPS for the current year.

Trustmark Dividend Announcement

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

Analysts Set New Price Targets

TRMK has been the topic of several recent research reports. Hovde Group boosted their price objective on shares of Trustmark from $37.00 to $41.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Wall Street Zen downgraded shares of Trustmark from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. DA Davidson boosted their target price on shares of Trustmark from $39.00 to $43.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Trustmark from $45.00 to $43.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Trustmark has an average rating of "Hold" and a consensus price target of $41.00.

Hedge Funds Weigh In On Trustmark

Institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its holdings in Trustmark by 452.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider's stock worth $46,000 after acquiring an additional 1,022 shares during the period. Lazard Asset Management LLC purchased a new position in Trustmark in the 4th quarter worth approximately $47,000. IFP Advisors Inc purchased a new position in Trustmark in the 1st quarter worth approximately $51,000. State of Wyoming purchased a new position in Trustmark in the 1st quarter worth approximately $52,000. Finally, GAMMA Investing LLC boosted its stake in shares of Trustmark by 41.0% during the 1st quarter. GAMMA Investing LLC now owns 1,809 shares of the financial services provider's stock valued at $62,000 after buying an additional 526 shares during the last quarter. Hedge funds and other institutional investors 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.