Trustmark Corp (NASDAQ:TRMK) Given Consensus Recommendation of “Hold” by Analysts

Trustmark Corp (NASDAQ:TRMK) has earned a consensus rating of “Hold” from the nine ratings firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $33.40.

Several brokerages have recently commented on TRMK. BidaskClub cut shares of Virtu Financial from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 12th. Zacks Investment Research cut shares of EXACT Sciences from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Keefe, Bruyette & Woods cut shares of Trustmark from a “market perform” rating to an “underperform” rating and set a $34.00 price objective for the company. in a research report on Tuesday, March 19th. Finally, Stephens reiterated a “hold” rating and set a $32.00 price objective on shares of Trustmark in a research report on Wednesday, April 24th.

In related news, insider Charles Scott Woods sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $35.96, for a total transaction of $35,960.00. Following the completion of the transaction, the insider now directly owns 12,081 shares in the company, valued at approximately $434,432.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Breck W. Tyler sold 2,400 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $35.73, for a total transaction of $85,752.00. Following the transaction, the insider now owns 43,054 shares of the company’s stock, valued at $1,538,319.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,861 shares of company stock valued at $351,659. 1.50% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Captrust Financial Advisors boosted its stake in shares of Trustmark by 160.7% in the 4th quarter. Captrust Financial Advisors now owns 863 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 532 shares during the last quarter. Toronto Dominion Bank bought a new position in Trustmark in the 4th quarter worth approximately $28,000. Rehmann Capital Advisory Group boosted its stake in Trustmark by 101.4% in the 4th quarter. Rehmann Capital Advisory Group now owns 1,025 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 516 shares during the period. Bremer Bank National Association bought a new position in Trustmark in the 1st quarter worth approximately $36,000. Finally, Quadrant Capital Group LLC boosted its stake in Trustmark by 509.5% in the 1st quarter. Quadrant Capital Group LLC now owns 1,414 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 1,182 shares during the period. 67.35% of the stock is currently owned by hedge funds and other institutional investors.

Trustmark stock traded up $0.32 during midday trading on Friday, hitting $33.18. The company’s stock had a trading volume of 247,344 shares, compared to its average volume of 266,833. Trustmark has a 1-year low of $26.84 and a 1-year high of $36.63. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.81 and a current ratio of 0.83. The company has a 50-day simple moving average of $32.66. The company has a market capitalization of $2.13 billion, a P/E ratio of 15.01 and a beta of 1.09.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $149.53 million during the quarter, compared to analyst estimates of $151.17 million. Trustmark had a net margin of 21.24% and a return on equity of 9.19%. Trustmark’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.54 earnings per share. As a group, equities research analysts forecast that Trustmark will post 2.24 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 15th. Investors of record on Saturday, June 1st were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date was Thursday, May 30th. Trustmark’s dividend payout ratio is 41.63%.

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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Analyst Recommendations for Trustmark (NASDAQ:TRMK)

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