Trustmark Corp (NASDAQ:TRMK) Receives Consensus Recommendation of “Hold” from Analysts

Trustmark Corp (NASDAQ:TRMK) has been assigned an average recommendation of “Hold” from the seven ratings firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $32.33.

Several analysts recently commented on the company. Zacks Investment Research cut Trustmark from a “buy” rating to a “hold” rating in a research report on Thursday. BidaskClub upgraded Trustmark from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 27th.

Shares of TRMK traded down $1.25 during trading hours on Friday, hitting $32.68. 265,308 shares of the stock were exchanged, compared to its average volume of 301,101. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 0.84. Trustmark has a 12-month low of $26.84 and a 12-month high of $36.63. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 14.79 and a beta of 1.08. The stock’s 50-day moving average price is $33.82 and its two-hundred day moving average price is $33.88.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.08. Trustmark had a return on equity of 9.28% and a net margin of 21.20%. The firm had revenue of $157.40 million during the quarter, compared to analysts’ expectations of $156.35 million. During the same period in the previous year, the business earned $0.59 earnings per share. On average, research analysts expect that Trustmark will post 2.35 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Thursday, August 29th. Trustmark’s payout ratio is currently 41.63%.

In other Trustmark 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 value of $653,712.60. Following the completion of the sale, the insider now directly owns 23,656 shares in the company, valued at approximately $797,207.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.50% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the business. Bremer Bank National Association purchased a new stake in Trustmark in the 1st quarter valued at $36,000. Quadrant Capital Group LLC grew its holdings 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 valued at $46,000 after buying an additional 1,182 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Trustmark in the 2nd quarter valued at $49,000. Strs Ohio grew its holdings in Trustmark by 77.8% in the 1st quarter. Strs Ohio now owns 1,600 shares of the financial services provider’s stock valued at $53,000 after buying an additional 700 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new stake in Trustmark in the 1st quarter valued at $58,000. Institutional investors own 67.97% of the company’s stock.

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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