Trustmark (NASDAQ:TRMK) Director Sells $26,943.00 in 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 L. Eduardo sold 700 shares of the 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 $26,943.00. Following the completion of the sale, the director directly owned 8,577 shares of the company's stock, valued at $330,128.73. This trade represents a 7.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Trustmark Stock Up 5.1%

Shares of TRMK traded up $1.97 during mid-day trading on Friday, reaching $40.35. 372,263 shares of the stock traded hands, compared to its average volume of 256,709. The stock has a fifty day simple moving average of $37.43 and a 200 day simple moving average of $35.65. Trustmark Corporation has a 12-month low of $29.77 and a 12-month high of $40.73. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 11.33 and a beta of 0.70.

Trustmark (NASDAQ:TRMK - Get Free Report) last announced its 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. Trustmark had a return on equity of 10.81% and a net margin of 19.21%.The company had revenue of $203.44 million during the quarter, compared to the consensus estimate of $200.35 million. During the same period last year, the firm earned $0.66 earnings per share. Sell-side analysts expect that Trustmark Corporation will post 3.42 EPS for the current fiscal year.

Trustmark Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, August 29th. Trustmark's dividend payout ratio (DPR) is currently 26.97%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TRMK. Hovde Group increased their target price on shares of Trustmark from $37.00 to $41.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. Wall Street Zen downgraded shares of Trustmark from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Finally, DA Davidson increased their price objective on shares of Trustmark from $39.00 to $43.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Two investment 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 currently has an average rating of "Hold" and a consensus price target of $41.00.

Institutional Trading of Trustmark

Hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System boosted its position in Trustmark by 0.6% during the 2nd quarter. California State Teachers Retirement System now owns 53,630 shares of the financial services provider's stock worth $1,955,000 after acquiring an additional 313 shares during the period. Lazard Asset Management LLC raised its stake in shares of Trustmark by 1.0% during the second quarter. Lazard Asset Management LLC now owns 35,132 shares of the financial services provider's stock valued at $1,280,000 after purchasing an additional 353 shares in the last quarter. LPL Financial LLC lifted its holdings in Trustmark by 0.6% in the first quarter. LPL Financial LLC now owns 64,802 shares of the financial services provider's stock worth $2,235,000 after purchasing an additional 415 shares during the period. GAMMA Investing LLC lifted its holdings in Trustmark by 23.2% in the second quarter. GAMMA Investing LLC now owns 2,228 shares of the financial services provider's stock worth $81,000 after purchasing an additional 419 shares during the period. Finally, CWM LLC grew its position in Trustmark by 9.7% in the 1st quarter. CWM LLC now owns 5,655 shares of the financial services provider's stock valued at $195,000 after buying an additional 502 shares in the last quarter. 67.64% of the stock is currently owned by institutional investors.

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.