Weiss Ratings Reiterates Buy (B-) Rating for Trustmark (NASDAQ:TRMK)

Key Points

• Weiss Ratings has reaffirmed a Buy (B-) rating for Trustmark (NASDAQ:TRMK), suggesting confidence in its stock performance.
• Trustmark's stock increased by 1.8% on Friday, reaching a price of $38.74, with a total market capitalization of $2.34 billion.
• Insider activity includes sales by directors, with Gerard R. Host selling 20,970 shares for $807,135, indicating potential shifts in insider confidence.

Trustmark (NASDAQ:TRMK - Get Free Report)'s stock had its "buy (b-)" rating reaffirmed by analysts at Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

Several other research firms have also issued reports on TRMK. Hovde Group upped their target price on Trustmark from $37.00 to $41.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. Zacks Research cut shares of Trustmark from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 23rd. Finally, DA Davidson increased their target price on shares of Trustmark from $39.00 to $43.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Trustmark has a consensus rating of "Hold" and an average target price of $41.00.

Trustmark Stock Up 1.8%

Shares of Trustmark stock traded up $0.70 on Friday, hitting $38.74. The company had a trading volume of 236,183 shares, compared to its average volume of 251,717. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 10.88 and a beta of 0.67. Trustmark has a 1 year low of $29.77 and a 1 year high of $41.33. The stock has a 50 day moving average of $39.54 and a 200-day moving average of $36.99. 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 (NASDAQ:TRMK - Get Free Report) last released its earnings results on Tuesday, July 22nd. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.06. The company had revenue of $203.44 million during 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 period in the prior year, the company posted $0.66 earnings per share. As a group, sell-side analysts forecast that Trustmark will post 3.42 earnings per share for the current year.

Insider Activity at Trustmark

In related news, Director Gerard R. Host sold 20,970 shares of Trustmark 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 $807,135.30. Following the completion of the transaction, the director directly owned 158,360 shares in the company, valued at approximately $6,095,276.40. The trade was a 11.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Marcelo L. Eduardo sold 700 shares of the business's stock in a transaction 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 sale, the director directly owned 8,577 shares in the company, valued at $330,128.73. The trade was a 7.55% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,226 shares of company stock valued at $897,299. 1.50% of the stock is owned by insiders.

Institutional Trading of Trustmark

A number of institutional investors have recently added to or reduced their stakes in TRMK. GAMMA Investing LLC grew its holdings in Trustmark by 41.0% during the 1st quarter. GAMMA Investing LLC now owns 1,809 shares of the financial services provider's stock valued at $62,000 after buying an additional 526 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Trustmark by 4.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 27,315 shares of the financial services provider's stock valued at $942,000 after acquiring an additional 1,080 shares during the period. Barlow Wealth Partners Inc. purchased a new position in Trustmark during the first quarter valued at approximately $896,000. 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. Finally, Edgestream Partners L.P. increased its holdings in Trustmark by 172.9% during the 1st quarter. Edgestream Partners L.P. now owns 204,665 shares of the financial services provider's stock worth $7,059,000 after acquiring an additional 129,679 shares during the period. 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.