Trustmark Corp (NASDAQ:TRMK) has been given a consensus rating of “Hold” by the nine brokerages that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $33.80.
TRMK has been the subject of several recent analyst reports. Stephens set a $35.00 target price on Trustmark and gave the company a “hold” rating in a research note on Wednesday, October 24th. ValuEngine downgraded Trustmark from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. Raymond James downgraded Trustmark from a “market perform” rating to an “underperform” rating in a research note on Monday, January 7th. Zacks Investment Research upgraded Trustmark from a “sell” rating to a “hold” rating in a research note on Tuesday, January 1st. Finally, BidaskClub downgraded Trustmark from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th.
In other Trustmark news, Director Leroy G. Walker, Jr. sold 2,000 shares of the firm’s stock in a transaction dated Friday, December 7th. The shares were sold at an average price of $30.95, for a total value of $61,900.00. Following the transaction, the director now owns 14,948 shares of the company’s stock, valued at $462,640.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charles Scott Woods sold 1,500 shares of the firm’s stock in a transaction dated Monday, November 26th. The stock was sold at an average price of $31.65, for a total transaction of $47,475.00. Following the completion of the transaction, the insider now directly owns 12,398 shares in the company, valued at approximately $392,396.70. The disclosure for this sale can be found here. Insiders have sold 5,289 shares of company stock worth $163,671 in the last ninety days. Corporate insiders own 1.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of TRMK. BlackRock Inc. lifted its holdings in Trustmark by 5.7% in the second quarter. BlackRock Inc. now owns 9,279,855 shares of the financial services provider’s stock worth $302,802,000 after acquiring an additional 502,534 shares during the last quarter. FMR LLC bought a new position in Trustmark in the third quarter worth about $15,382,000. Millennium Management LLC lifted its holdings in Trustmark by 891.5% in the second quarter. Millennium Management LLC now owns 502,650 shares of the financial services provider’s stock worth $16,401,000 after acquiring an additional 451,952 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Trustmark by 14.6% in the third quarter. JPMorgan Chase & Co. now owns 877,033 shares of the financial services provider’s stock worth $29,512,000 after acquiring an additional 111,984 shares during the last quarter. Finally, Vanguard Group Inc lifted its holdings in Trustmark by 1.1% in the third quarter. Vanguard Group Inc now owns 6,008,142 shares of the financial services provider’s stock worth $202,174,000 after acquiring an additional 65,576 shares during the last quarter. 71.36% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ TRMK traded up $0.05 during trading hours on Friday, hitting $29.30. The company had a trading volume of 399,014 shares, compared to its average volume of 437,138. Trustmark has a fifty-two week low of $26.84 and a fifty-two week high of $36.32. The company has a market cap of $1.97 billion, a P/E ratio of 15.26 and a beta of 1.05. The company has a current ratio of 0.81, a quick ratio of 0.79 and a debt-to-equity ratio of 0.04.
Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, October 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.03). Trustmark had a net margin of 18.99% and a return on equity of 9.21%. The company had revenue of $157.23 million during the quarter, compared to analyst estimates of $155.38 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, sell-side analysts forecast that Trustmark will post 2.21 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Saturday, December 15th. Stockholders of record on Saturday, December 1st were given a dividend of $0.23 per share. The ex-dividend date was Thursday, November 29th. This represents a $0.92 annualized dividend and a dividend yield of 3.14%. Trustmark’s payout ratio is 47.92%.
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 offers checking, savings, and money market accounts; individual retirement accounts; certificates of deposits; 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.
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