Trustmark Corp (NASDAQ:TRMK) Given Average Recommendation of “Hold” by Brokerages

Shares of Trustmark Corp (NASDAQ:TRMK) have been assigned an average recommendation of “Hold” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $33.00.

Several analysts have recently weighed in on TRMK shares. ValuEngine upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Monday. Zacks Investment Research upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Saturday, October 26th. Finally, BidaskClub lowered Trustmark from a “hold” rating to a “sell” rating in a report on Friday, October 18th.

Shares of Trustmark stock traded up $0.01 during trading on Friday, hitting $35.16. The stock had a trading volume of 12,337 shares, compared to its average volume of 205,794. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.85 and a quick ratio of 0.83. The firm has a market cap of $2.27 billion, a P/E ratio of 15.91 and a beta of 1.09. The business has a fifty day moving average of $34.32 and a two-hundred day moving average of $33.76. Trustmark has a fifty-two week low of $26.84 and a fifty-two week high of $36.63.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.02. The business had revenue of $160.05 million during the quarter, compared to analyst estimates of $160.21 million. Trustmark had a return on equity of 9.51% and a net margin of 21.68%. The company’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.54 earnings per share. As a group, research analysts forecast that Trustmark will post 2.37 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Wednesday, November 27th. Trustmark’s dividend payout ratio is 41.63%.

In other news, insider Breck W. Tyler sold 19,398 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was 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 directly owns 23,656 shares of the company’s stock, valued at $797,207.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.50% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Dupont Capital Management Corp increased its position in Trustmark by 10.3% in the 3rd quarter. Dupont Capital Management Corp now owns 3,634 shares of the financial services provider’s stock worth $124,000 after purchasing an additional 338 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in Trustmark by 1.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 26,880 shares of the financial services provider’s stock worth $894,000 after purchasing an additional 373 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Trustmark by 5.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 9,320 shares of the financial services provider’s stock worth $318,000 after purchasing an additional 465 shares during the last quarter. Strs Ohio increased its holdings in shares of Trustmark by 45.5% during the 3rd quarter. Strs Ohio now owns 1,600 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 500 shares during the last quarter. Finally, ETRADE Capital Management LLC increased its holdings in shares of Trustmark by 2.3% during the 2nd quarter. ETRADE Capital Management LLC now owns 23,967 shares of the financial services provider’s stock valued at $797,000 after acquiring an additional 546 shares during the last quarter. 66.54% of the stock is currently owned by hedge funds and other 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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