Trustmark’s (TRMK) “Buy (B-)” Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their buy (b-) rating on shares of Trustmark (NASDAQ:TRMK) in a research note released on Friday morning,Weiss Ratings reports.

TRMK has been the topic of several other reports. Hovde Group increased their price objective 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 raised their price target on shares of Trustmark from $39.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Finally, Zacks Research cut shares of Trustmark from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.25.

Trustmark Stock Performance

TRMK stock opened at $38.74 on Friday. The stock’s 50 day simple moving average is $39.54 and its 200 day simple moving average is $37.06. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. Trustmark has a 12-month low of $29.77 and a 12-month high of $41.33. The stock has a market capitalization of $2.34 billion, a PE ratio of 10.88 and a beta of 0.67.

Insider Activity at Trustmark

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TRMK. SG Americas Securities LLC grew its stake in shares of Trustmark by 158.1% during the 3rd quarter. SG Americas Securities LLC now owns 22,444 shares of the financial services provider’s stock valued at $889,000 after acquiring an additional 13,749 shares during the period. HB Wealth Management LLC boosted its position in shares of Trustmark by 544.0% in the third quarter. HB Wealth Management LLC now owns 70,211 shares of the financial services provider’s stock worth $2,780,000 after purchasing an additional 59,308 shares during the period. KLP Kapitalforvaltning AS boosted its position in shares of Trustmark by 12.5% in the third quarter. KLP Kapitalforvaltning AS now owns 12,600 shares of the financial services provider’s stock worth $499,000 after purchasing an additional 1,400 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in shares of Trustmark by 59.1% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 10,500 shares of the financial services provider’s stock worth $416,000 after purchasing an additional 3,900 shares in the last quarter. Finally, BankPlus Trust Department raised its position in shares of Trustmark by 7.1% during the 3rd quarter. BankPlus Trust Department now owns 25,062 shares of the financial services provider’s stock valued at $992,000 after purchasing an additional 1,662 shares during the period. 67.64% of the stock is owned by hedge funds and other institutional investors.

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.