Trustmark Corporation (NASDAQ:TRMK) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Trustmark Corporation (NASDAQ:TRMK) has received a consensus rating of "Hold" from analysts, with three analysts rating it as a hold and two as a buy, alongside an average price target of $41.00.
• In recent insider activity, Director Gerard R. Host sold 20,970 shares of Trustmark stock, indicating an 11.69% decrease in their position, while 1.50% of the stock is owned by insiders.
• Trustmark declared a quarterly dividend of $0.24 to be paid on September 15th, marking an annualized yield of 2.4% with a payout ratio of 26.97%.

Shares of Trustmark Corporation (NASDAQ:TRMK - Get Free Report) have earned a consensus rating of "Hold" from the five brokerages that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $41.00.

Several equities research analysts have weighed in on the company. DA Davidson increased their price target on Trustmark from $39.00 to $43.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Hovde Group lifted their price target on 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 Trustmark from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th.

Insider Activity

In related news, Director Gerard R. Host sold 20,970 shares of Trustmark stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $38.49, for a total value of $807,135.30. Following the completion of the transaction, the director owned 158,360 shares in the company, valued at $6,095,276.40. The trade was a 11.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Marcelo L. Eduardo sold 700 shares of Trustmark stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $38.49, for a total value of $26,943.00. Following the completion of the transaction, the director owned 8,577 shares of the company's stock, valued at approximately $330,128.73. This represents a 7.55% decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Trustmark

Large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake in Trustmark by 452.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider's stock worth $46,000 after buying an additional 1,022 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Trustmark during the 4th quarter worth approximately $47,000. IFP Advisors Inc purchased a new stake in Trustmark during the 1st quarter worth approximately $51,000. State of Wyoming purchased a new stake in Trustmark during the 1st quarter worth approximately $52,000. Finally, GAMMA Investing LLC increased its stake in Trustmark by 41.0% during the 1st quarter. GAMMA Investing LLC now owns 1,809 shares of the financial services provider's stock worth $62,000 after buying an additional 526 shares in the last quarter. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

Trustmark Price Performance

Shares of TRMK opened at $40.35 on Monday. The business's 50-day moving average is $37.43 and its two-hundred day moving average is $35.62. The company has a market capitalization of $2.44 billion, a P/E ratio of 11.33 and a beta of 0.70. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.88. Trustmark has a fifty-two week low of $29.77 and a fifty-two week high of $40.73.

Trustmark (NASDAQ:TRMK - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.06. The company had revenue of $203.44 million for the quarter, compared to the consensus estimate of $200.35 million. Trustmark had a return on equity of 10.81% and a net margin of 19.21%.During the same period last year, the firm earned $0.66 EPS. Research analysts predict that Trustmark will post 3.42 earnings per share for the current year.

Trustmark Announces Dividend

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

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.

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