Shares of Trustmark Corporation (NASDAQ:TRMK) have received a consensus recommendation of “Hold” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $34.67.
Several equities analysts have recently issued reports on the company. Jefferies Group LLC reaffirmed a “hold” rating and issued a $35.00 price target on shares of Trustmark Corporation in a research report on Monday, May 15th. Hovde Group lifted their price target on Trustmark Corporation from $36.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, April 27th. BidaskClub raised Trustmark Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. ValuEngine raised Trustmark Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research lowered Trustmark Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th.
Trustmark Corporation (TRMK) traded down 0.33% during mid-day trading on Friday, hitting $33.03. 1,088,475 shares of the stock traded hands. Trustmark Corporation has a 52-week low of $22.95 and a 52-week high of $36.79. The firm has a market cap of $2.24 billion, a P/E ratio of 19.91 and a beta of 1.12. The firm’s 50-day moving average is $32.22 and its 200 day moving average is $33.11.
Trustmark Corporation (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.04. The firm had revenue of $148.46 million during the quarter, compared to analyst estimates of $144.60 million. Trustmark Corporation had a return on equity of 7.78% and a net margin of 18.41%. During the same quarter in the previous year, the firm earned $0.40 EPS. Equities analysts predict that Trustmark Corporation will post $1.78 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were issued a $0.23 dividend. The ex-dividend date was Tuesday, May 30th. This represents a $0.92 annualized dividend and a yield of 2.79%. Trustmark Corporation’s payout ratio is 55.09%.
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In related news, insider Harry M. Walker sold 7,381 shares of Trustmark Corporation stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $33.53, for a total value of $247,484.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Duane A. Dewey sold 5,748 shares of Trustmark Corporation stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $30.85, for a total value of $177,325.80. Following the completion of the sale, the insider now owns 27,909 shares of the company’s stock, valued at $860,992.65. The disclosure for this sale can be found here. 1.37% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Comerica Bank increased its stake in Trustmark Corporation by 5.9% in the fourth quarter. Comerica Bank now owns 49,794 shares of the financial services provider’s stock valued at $1,706,000 after buying an additional 2,764 shares during the last quarter. State Street Corp increased its stake in Trustmark Corporation by 18.9% in the fourth quarter. State Street Corp now owns 3,059,705 shares of the financial services provider’s stock valued at $109,080,000 after buying an additional 485,964 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in Trustmark Corporation during the fourth quarter valued at approximately $233,000. Trexquant Investment LP acquired a new stake in Trustmark Corporation during the fourth quarter valued at approximately $285,000. Finally, Elkfork Partners LLC acquired a new stake in Trustmark Corporation during the fourth quarter valued at approximately $215,000. Institutional investors own 63.26% of the company’s stock.
About Trustmark Corporation
Trustmark Corporation is a bank holding company. The Company’s principal subsidiary is Trustmark National Bank (TNB). Through TNB and its subsidiaries, the Company operates as a financial services company providing banking and other financial solutions. It operates through three segments: General Banking, Wealth Management and Insurance.
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