Trustmark Corp (NASDAQ:TRMK) Receives Consensus Rating of “Hold” from Brokerages

Shares of Trustmark Corp (NASDAQ:TRMK) have earned a consensus rating of “Hold” from the nine ratings firms that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $33.40.

TRMK has been the topic of several research analyst reports. Stephens reissued a “hold” rating and set a $32.00 price target on shares of Trustmark in a research note on Wednesday, April 24th. BidaskClub cut shares of Virtu Financial from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 12th. Zacks Investment Research cut shares of EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, Keefe, Bruyette & Woods cut shares of Trustmark from a “market perform” rating to an “underperform” rating and set a $34.00 price target on the stock. in a research note on Tuesday, March 19th.

In other Trustmark news, insider Breck W. Tyler sold 2,400 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $35.73, for a total value of $85,752.00. Following the transaction, the insider now directly owns 43,054 shares of the company’s stock, valued at $1,538,319.42. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Charles Scott Woods sold 1,000 shares of the firm’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 $434,432.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,861 shares of company stock worth $351,659. Insiders own 1.50% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Oakworth Capital Inc. raised its holdings in Trustmark by 25.1% in the first quarter. Oakworth Capital Inc. now owns 3,502 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 703 shares during the period. GYL Financial Synergies LLC acquired a new stake in Trustmark in the first quarter worth $608,000. Raymond James & Associates raised its holdings in shares of Trustmark by 2.9% during the fourth quarter. Raymond James & Associates now owns 69,669 shares of the financial services provider’s stock worth $1,981,000 after acquiring an additional 1,940 shares during the period. Geode Capital Management LLC raised its holdings in shares of Trustmark by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 768,479 shares of the financial services provider’s stock worth $21,847,000 after acquiring an additional 38,130 shares during the period. Finally, Norges Bank acquired a new stake in shares of Trustmark during the fourth quarter worth $22,288,000. Institutional investors own 67.35% of the company’s stock.

Trustmark stock traded up $0.32 during trading hours on Friday, hitting $33.18. 247,344 shares of the stock were exchanged, compared to its average volume of 266,833. The company has a quick ratio of 0.81, a current ratio of 0.83 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.13 billion, a PE ratio of 15.01 and a beta of 1.09. Trustmark has a 12 month low of $26.84 and a 12 month high of $36.63. The stock has a 50-day moving average of $32.66.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.01). Trustmark had a net margin of 21.24% and a return on equity of 9.19%. The company had revenue of $149.53 million for the quarter, compared to the consensus estimate of $151.17 million. During the same period last year, the company earned $0.54 earnings per share. Trustmark’s revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, sell-side analysts expect that Trustmark will post 2.24 EPS for the current year.

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

Featured Article: How is a buy-side analyst different from a sell-side analyst?

Analyst Recommendations for Trustmark (NASDAQ:TRMK)

Receive News & Ratings for Trustmark Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trustmark and related companies with MarketBeat.com's FREE daily email newsletter.