Trustmark Corporation (NASDAQ:TRMK) Receives $41.00 Consensus PT from Brokerages

Trustmark Corporation (NASDAQ:TRMK) has been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $41.00.

A number of brokerages have recently commented on TRMK. Weiss Ratings reissued a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, October 8th. Hovde Group raised their price target on Trustmark from $37.00 to $41.00 and gave the company a “market perform” rating in a research report on Thursday, July 24th. DA Davidson upped their price objective on Trustmark from $39.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Finally, Zacks Research downgraded Trustmark from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd.

Trustmark Price Performance

Trustmark stock opened at $38.28 on Tuesday. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 10.75 and a beta of 0.67. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The business has a 50-day simple moving average of $39.59 and a 200 day simple moving average of $36.87. Trustmark has a 52 week low of $29.77 and a 52 week high of $41.33.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.86 by $0.06. The company had revenue of $203.44 million during the quarter, compared to analyst estimates of $200.35 million. Trustmark had a return on equity of 10.81% and a net margin of 19.21%.During the same quarter in the previous year, the firm earned $0.66 earnings per share. On average, research analysts forecast that Trustmark will post 3.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Trustmark news, Director Gerard R. Host sold 1,556 shares of the business’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $40.63, for a total value of $63,220.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Marcelo L. Eduardo sold 700 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $38.49, for a total transaction of $26,943.00. Following the sale, the director owned 8,577 shares of the company’s stock, valued at approximately $330,128.73. The trade was a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,226 shares of company stock valued at $897,299. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Trustmark

Several institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its stake in shares of Trustmark by 452.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 1,022 shares during the period. IFP Advisors Inc purchased a new stake in Trustmark during the 1st quarter valued at $51,000. State of Wyoming bought a new stake in Trustmark in the 1st quarter worth $52,000. GAMMA Investing LLC increased its position in shares of Trustmark by 41.0% in the first quarter. GAMMA Investing LLC now owns 1,809 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 526 shares during the period. Finally, CWM LLC raised its stake in shares of Trustmark by 9.7% during the first quarter. CWM LLC now owns 5,655 shares of the financial services provider’s stock valued at $195,000 after acquiring an additional 502 shares during the last quarter. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

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 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.