Marcelo Eduardo Sells 700 Shares of Trustmark (NASDAQ:TRMK) Stock

Trustmark Corporation (NASDAQ:TRMK) Director Marcelo Eduardo sold 700 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $38.49, for a total transaction of $26,943.00. Following the completion of the transaction, the director owned 8,577 shares of the company’s stock, valued at approximately $330,128.73. This trade represents a 7.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Trustmark Trading Down 0.1%

TRMK opened at $38.51 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.86. The company’s 50 day simple moving average is $37.23 and its two-hundred day simple moving average is $35.64. Trustmark Corporation has a 1-year low of $29.77 and a 1-year high of $40.73. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 10.82 and a beta of 0.70.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.06. Trustmark had a net margin of 19.21% and a return on equity of 10.81%. The business had revenue of $203.44 million during the quarter, compared to analysts’ expectations of $200.35 million. During the same quarter in the prior year, the company posted $0.66 EPS. Analysts expect that Trustmark Corporation will post 3.42 EPS for the current fiscal year.

Trustmark Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.5%. Trustmark’s dividend payout ratio (DPR) is presently 26.97%.

Institutional Trading of Trustmark

A number of institutional investors have recently modified their holdings of TRMK. Envestnet Asset Management Inc. boosted its holdings in Trustmark by 4.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 208,316 shares of the financial services provider’s stock valued at $7,368,000 after purchasing an additional 9,475 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Trustmark during the fourth quarter valued at approximately $235,000. Renaissance Technologies LLC acquired a new position in Trustmark during the 4th quarter valued at about $1,887,000. Raymond James Financial Inc. bought a new position in Trustmark in the 4th quarter worth about $1,145,000. Finally, Sterling Capital Management LLC grew its position in Trustmark by 817.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,918 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 1,709 shares during the last quarter. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TRMK. DA Davidson upped their target price on shares of Trustmark from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Hovde Group raised their price target on Trustmark from $37.00 to $41.00 and gave the stock a “market perform” rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods reduced their price objective on Trustmark from $45.00 to $43.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Finally, Wall Street Zen lowered Trustmark from a “buy” rating to a “hold” rating in a report on Saturday, June 7th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $41.00.

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 operates through three segments: General Banking, Wealth Management, and Insurance. It offers checking, savings, and money market accounts; certificates of deposits and individual retirement accounts; 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, as well as treasury management services.