Trustmark Corp (TRMK) Receives Average Recommendation of “Hold” from Analysts

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Trustmark Corp (NASDAQ:TRMK) has received a consensus recommendation of “Hold” from the nine analysts that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $33.40.

TRMK has been the subject of several analyst reports. Zacks Investment Research cut Trustmark from a “buy” rating to a “hold” rating in a report on Friday, January 18th. BidaskClub raised Trustmark from a “sell” rating to a “hold” rating in a report on Friday, January 25th. Stephens set a $32.00 price objective on Trustmark and gave the company a “hold” rating in a report on Friday, January 25th. Finally, Keefe, Bruyette & Woods cut Trustmark from a “market perform” rating to an “underperform” rating and set a $34.00 price objective for the company. in a report on Tuesday, March 19th.

In other news, insider Robert B. Harvey sold 6,461 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $35.59, for a total transaction of $229,946.99. Following the completion of the transaction, the insider now owns 29,848 shares of the company’s stock, valued at approximately $1,062,290.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Charles Scott Woods sold 1,000 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $35.96, for a total value of $35,960.00. Following the transaction, the insider now directly owns 12,081 shares of the company’s stock, valued at approximately $434,432.76. The disclosure for this sale can be found here. Insiders sold a total of 11,741 shares of company stock valued at $418,531 over the last ninety days. Insiders own 1.50% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC acquired a new position in shares of Trustmark during the 1st quarter worth $1,265,000. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Trustmark by 22.5% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 165,904 shares of the financial services provider’s stock worth $5,579,000 after buying an additional 30,420 shares in the last quarter. Man Group plc raised its holdings in shares of Trustmark by 245.4% during the 1st quarter. Man Group plc now owns 91,240 shares of the financial services provider’s stock worth $3,068,000 after buying an additional 64,823 shares in the last quarter. SEI Investments Co raised its holdings in shares of Trustmark by 441.4% during the 1st quarter. SEI Investments Co now owns 29,032 shares of the financial services provider’s stock worth $923,000 after buying an additional 23,670 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Trustmark by 98.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 541,026 shares of the financial services provider’s stock worth $18,195,000 after buying an additional 268,919 shares in the last quarter. 69.20% of the stock is owned by institutional investors.

TRMK traded down $0.68 during trading on Friday, hitting $33.42. The stock had a trading volume of 9,239 shares, compared to its average volume of 303,314. The company has a market capitalization of $2.17 billion, a PE ratio of 15.18 and a beta of 1.08. Trustmark has a one year low of $26.84 and a one year high of $36.63. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.83 and a quick ratio of 0.81.

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

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st will be issued a $0.23 dividend. The ex-dividend date is Thursday, May 30th. This represents a $0.92 annualized dividend and a yield of 2.75%. Trustmark’s dividend payout ratio is presently 41.63%.

About Trustmark

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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