Trustmark Corp (NASDAQ:TRMK) has earned an average rating of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $32.33.
Several research firms have recently issued reports on TRMK. BidaskClub upgraded shares of Trustmark from a “strong sell” rating to a “sell” rating in a report on Thursday, September 12th. Zacks Investment Research lowered shares of Trustmark from a “buy” rating to a “hold” rating in a report on Thursday.
Shares of TRMK stock traded down $0.26 during trading hours on Thursday, hitting $34.16. 23,358 shares of the company’s stock traded hands, compared to its average volume of 220,909. The stock’s fifty day simple moving average is $33.72 and its two-hundred day simple moving average is $33.77. Trustmark has a 12-month low of $26.84 and a 12-month high of $36.63. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 15.46 and a beta of 1.10. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 0.04.
Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.08. Trustmark had a net margin of 21.20% and a return on equity of 9.28%. The firm had revenue of $157.40 million during the quarter, compared to analyst estimates of $156.35 million. During the same period last year, the business earned $0.59 earnings per share. On average, equities analysts forecast that Trustmark will post 2.35 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend was Thursday, August 29th. Trustmark’s dividend payout ratio (DPR) is currently 41.63%.
In related news, insider Breck W. Tyler sold 19,398 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $33.70, for a total transaction of $653,712.60. Following the completion of the sale, the insider now owns 23,656 shares of the company’s stock, valued at $797,207.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Bremer Bank National Association bought a new stake in shares of Trustmark during the first quarter valued at approximately $36,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Trustmark during the second quarter valued at approximately $49,000. O Shaughnessy Asset Management LLC bought a new stake in shares of Trustmark during the first quarter valued at approximately $58,000. Parallel Advisors LLC increased its position in shares of Trustmark by 41.5% during the second quarter. Parallel Advisors LLC now owns 5,476 shares of the financial services provider’s stock valued at $182,000 after acquiring an additional 1,607 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Trustmark during the second quarter valued at approximately $201,000. 66.67% of the stock is owned by institutional investors.
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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