Trustmark Corporation (NASDAQ:TRMK) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Trustmark Corporation (NASDAQ:TRMK) has received a consensus recommendation of "Hold" from analysts, with four ratings for hold and three for buy.
• The company recently reported a quarterly earnings per share (EPS) of $0.92, beating estimates by $0.06, and had a net margin of 19.21% with revenues of $203.44 million for the quarter.
• Trustmark announced a quarterly dividend of $0.24, reflecting a 2.5% dividend yield and a payout ratio of 26.97%.

Trustmark Corporation (NASDAQ:TRMK - Get Free Report) has earned an average recommendation of "Hold" from the seven research firms that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $41.00.

TRMK has been the subject of a number of research reports. Zacks Research cut shares of Trustmark from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 23rd. Hovde Group upped their target price on shares of Trustmark from $37.00 to $41.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. 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. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Trustmark in a research note on Wednesday, October 8th.

Trustmark Stock Up 1.9%

Shares of TRMK stock opened at $38.33 on Tuesday. Trustmark has a 12 month low of $29.77 and a 12 month high of $41.33. The stock has a market cap of $2.31 billion, a P/E ratio of 10.77 and a beta of 0.67. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The company has a 50 day simple moving average of $39.45 and a two-hundred day simple moving average of $36.69.

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

Trustmark Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 1st were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.5%. Trustmark's dividend payout ratio is 26.97%.

Insiders Place Their Bets

In other news, Director Gerard R. Host sold 1,556 shares of the stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $40.63, for a total value of $63,220.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Marcelo L. Eduardo sold 700 shares of the stock in a transaction on Monday, August 18th. The stock was 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 approximately $330,128.73. This trade represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,226 shares of company stock valued at $897,299. Corporate insiders own 1.50% of the company's stock.

Institutional Trading of Trustmark

A number of hedge funds and other institutional investors have recently modified their holdings of TRMK. EverSource Wealth Advisors LLC grew its stake in Trustmark by 452.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider's stock valued at $46,000 after acquiring an additional 1,022 shares in the last quarter. IFP Advisors Inc purchased a new position in Trustmark during the first quarter valued at $51,000. State of Wyoming purchased a new position in Trustmark during the first quarter valued at $52,000. GAMMA Investing LLC grew its stake in Trustmark by 41.0% during the first quarter. GAMMA Investing LLC now owns 1,809 shares of the financial services provider's stock valued at $62,000 after acquiring an additional 526 shares in the last quarter. Finally, CWM LLC grew its stake 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 in the last quarter. 67.64% of the stock is owned by hedge funds and other institutional investors.

About Trustmark

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.

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