Insider Selling: Trustmark (NASDAQ:TRMK) Director Sells 700 Shares of Stock

Key Points

• Marcelo Eduardo, a director at Trustmark Corporation, sold 700 shares of stock at an average price of $38.49, totaling approximately $26,943, which represents a 7.55% decrease in his ownership.
• Trustmark recently announced a quarterly dividend of $0.24, with a yield of 2.5%, set to be paid on September 15th to shareholders on record as of September 1st.
• In its last quarterly earnings report, Trustmark exceeded expectations, posting $0.92 earnings per share against an estimated $0.86, with revenues of $203.44 million compared to a forecast of $200.35 million.

Trustmark Corporation (NASDAQ:TRMK - Get Free Report) Director Marcelo Eduardo sold 700 shares of the company'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 value of $26,943.00. Following the sale, the director owned 8,577 shares in the company, valued at approximately $330,128.73. This trade represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Trustmark Trading Down 0.1%

Shares of NASDAQ:TRMK traded down $0.03 during trading on Tuesday, hitting $38.53. The company had a trading volume of 164,674 shares, compared to its average volume of 318,299. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 10.82 and a beta of 0.70. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.86. The company has a fifty day simple moving average of $37.09 and a two-hundred day simple moving average of $35.60. Trustmark Corporation has a one year low of $29.77 and a one year high of $40.73.

Trustmark (NASDAQ:TRMK - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.06. The company had revenue of $203.44 million for the quarter, compared to analyst estimates 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 prior year, the firm posted $0.66 EPS. As a group, equities analysts forecast that Trustmark Corporation will post 3.42 earnings per share for the current year.

Trustmark Dividend Announcement

The company 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. This represents a $0.96 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, August 29th. Trustmark's dividend payout ratio is 26.97%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wall Street Zen lowered Trustmark from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. DA Davidson upped their price objective on Trustmark from $39.00 to $43.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Keefe, Bruyette & Woods reduced their target price on Trustmark from $45.00 to $43.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Finally, Hovde Group boosted their target price 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. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Trustmark presently has an average rating of "Hold" and a consensus target price of $41.00.

Institutional Trading of Trustmark

Hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System raised its holdings in Trustmark by 0.6% in the second quarter. California State Teachers Retirement System now owns 53,630 shares of the financial services provider's stock worth $1,955,000 after purchasing an additional 313 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of Trustmark by 1.0% in the 2nd quarter. Lazard Asset Management LLC now owns 35,132 shares of the financial services provider's stock worth $1,280,000 after buying an additional 353 shares during the last quarter. LPL Financial LLC raised its stake in shares of Trustmark by 0.6% during the 1st quarter. LPL Financial LLC now owns 64,802 shares of the financial services provider's stock worth $2,235,000 after acquiring an additional 415 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Trustmark by 23.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,228 shares of the financial services provider's stock worth $81,000 after acquiring an additional 419 shares in the last quarter. Finally, CWM LLC lifted its position in Trustmark by 9.7% during the first quarter. CWM LLC now owns 5,655 shares of the financial services provider's stock valued at $195,000 after acquiring an additional 502 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.