TRMK has been the topic of several other research reports. Zacks Investment Research downgraded shares of Trustmark from a hold rating to a sell rating in a research note on Friday, April 5th. Stephens set a $32.00 target price on shares of Trustmark and gave the company a hold rating in a research note on Friday, January 25th. Finally, Keefe, Bruyette & Woods downgraded shares of Trustmark from a market perform rating to an underperform rating and set a $34.00 target price on the stock. in a research note on Tuesday, March 19th. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Trustmark currently has an average rating of Hold and an average price target of $34.17.
Trustmark stock traded up $0.63 during mid-day trading on Wednesday, reaching $34.18. 2,171 shares of the company’s stock traded hands, compared to its average volume of 444,381. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 15.45 and a beta of 1.08. The company has a quick ratio of 0.81, a current ratio of 0.83 and a debt-to-equity ratio of 0.04. Trustmark has a 12-month low of $26.84 and a 12-month high of $36.63.
Trustmark (NASDAQ:TRMK) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $0.51 earnings per share 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 firm had revenue of $149.53 million during the quarter, compared to analysts’ expectations of $151.17 million. During the same period in the prior year, the company posted $0.54 EPS. The company’s revenue was down 1.7% compared to the same quarter last year. On average, equities research analysts anticipate that Trustmark will post 2.24 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Thursday, May 30th. Trustmark’s dividend payout ratio is currently 41.63%.
In related news, insider Harry M. Walker sold 1,880 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $35.57, for a total value of $66,871.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Charles Scott Woods sold 1,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was 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 approximately $434,432.76. The disclosure for this sale can be found here. In the last three months, insiders sold 11,741 shares of company stock worth $418,531. Insiders own 1.50% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Trustmark by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 6,008,142 shares of the financial services provider’s stock worth $202,174,000 after buying an additional 65,576 shares during the period. Bank of New York Mellon Corp increased its stake in Trustmark by 0.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 931,742 shares of the financial services provider’s stock worth $31,353,000 after buying an additional 7,715 shares during the period. Raymond James & Associates increased its stake in Trustmark by 2.9% in the 4th quarter. Raymond James & Associates now owns 69,669 shares of the financial services provider’s stock worth $1,981,000 after buying an additional 1,940 shares during the period. Geode Capital Management LLC increased its stake in Trustmark by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 768,479 shares of the financial services provider’s stock worth $21,847,000 after buying an additional 38,130 shares during the period. Finally, Strs Ohio increased its stake in Trustmark by 200.0% in the 4th quarter. Strs Ohio now owns 900 shares of the financial services provider’s stock worth $25,000 after buying an additional 600 shares during the period. 69.20% of the stock is currently owned by institutional investors.
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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