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

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%.

Trustmark Corporation (NASDAQ:TRMK - Get Free Report) has received an average rating of "Hold" from the five ratings firms that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $41.00.

A number of equities research analysts have weighed in on TRMK shares. Hovde Group raised their price target on Trustmark from $37.00 to $41.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. Wall Street Zen cut Trustmark from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Finally, DA Davidson raised their price objective on Trustmark from $39.00 to $43.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th.

Trustmark Price Performance

NASDAQ TRMK traded down $0.25 during trading hours on Monday, reaching $40.27. 182,180 shares of the stock traded hands, compared to its average volume of 253,808. The stock has a 50 day simple moving average of $38.09 and a two-hundred day simple moving average of $35.74. Trustmark has a 1 year low of $29.77 and a 1 year high of $40.81. 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 market cap of $2.43 billion, a price-to-earnings ratio of 11.31 and a beta of 0.70.

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 analysts' consensus estimates of $0.86 by $0.06. Trustmark had a return on equity of 10.81% and a net margin of 19.21%.The business had revenue of $203.44 million for the quarter, compared to the consensus estimate of $200.35 million. During the same quarter last year, the business posted $0.66 earnings per share. On average, analysts predict that Trustmark will post 3.42 EPS for the current fiscal year.

Trustmark Announces Dividend

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

Insider Transactions at Trustmark

In other news, Director Marcelo L. Eduardo sold 700 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $38.49, for a total transaction of $26,943.00. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gerard R. Host sold 20,970 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $38.49, for a total value of $807,135.30. Following the transaction, the director directly owned 158,360 shares in the company, valued at $6,095,276.40. This trade represents a 11.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,226 shares of company stock worth $897,299 over the last ninety days. Insiders own 1.50% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TRMK. Wellington Management Group LLP grew its stake in shares of Trustmark by 82.2% during the fourth quarter. Wellington Management Group LLP now owns 2,472,561 shares of the financial services provider's stock valued at $87,454,000 after buying an additional 1,115,708 shares during the last quarter. Nuveen LLC bought a new stake in shares of Trustmark in the first quarter worth about $5,697,000. Edgestream Partners L.P. grew its stake in shares of Trustmark by 172.9% in the first quarter. Edgestream Partners L.P. now owns 204,665 shares of the financial services provider's stock worth $7,059,000 after purchasing an additional 129,679 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Trustmark by 75.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 272,067 shares of the financial services provider's stock worth $9,920,000 after purchasing an additional 117,389 shares during the last quarter. Finally, Trexquant Investment LP grew its stake in shares of Trustmark by 379.0% in the first quarter. Trexquant Investment LP now owns 125,516 shares of the financial services provider's stock worth $4,329,000 after purchasing an additional 99,313 shares during the last quarter. 67.64% of the stock is owned by 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.