BidaskClub lowered shares of Trustmark Corporation (NASDAQ:TRMK) from a hold rating to a sell rating in a research report sent to investors on Wednesday, July 19th.
A number of other equities research analysts also recently weighed in on the stock. ValuEngine downgraded shares of Trustmark Corporation from a buy rating to a hold rating in a research note on Thursday, July 13th. Zacks Investment Research downgraded shares of Trustmark Corporation from a buy rating to a hold rating in a research note on Tuesday, July 4th. Hovde Group downgraded shares of Trustmark Corporation from an outperform rating to a market perform rating and set a $34.00 price target for the company. in a research note on Friday, June 23rd. Jefferies Group LLC reaffirmed a hold rating and issued a $35.00 target price on shares of Trustmark Corporation in a research note on Friday, June 9th. Finally, Stephens reaffirmed a hold rating on shares of Trustmark Corporation in a research note on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Trustmark Corporation currently has an average rating of Hold and an average price target of $34.20.
Shares of Trustmark Corporation (NASDAQ TRMK) traded down 1.58% during mid-day trading on Wednesday, reaching $31.76. 326,705 shares of the company were exchanged. The stock has a market capitalization of $2.15 billion, a P/E ratio of 18.70 and a beta of 1.14. The firm has a 50-day moving average price of $32.37 and a 200 day moving average price of $32.46. Trustmark Corporation has a 12 month low of $25.56 and a 12 month high of $36.79.
Trustmark Corporation (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.03. The business had revenue of $157.10 million during the quarter, compared to the consensus estimate of $152.57 million. Trustmark Corporation had a net margin of 18.35% and a return on equity of 8.04%. During the same period in the previous year, the firm posted $0.40 earnings per share. Equities research analysts anticipate that Trustmark Corporation will post $1.83 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Wednesday, August 30th. Trustmark Corporation’s payout ratio is presently 54.12%.
In other news, insider Duane A. Dewey sold 5,748 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $30.85, for a total value of $177,325.80. Following the completion of the transaction, the insider now owns 27,909 shares in the company, valued at $860,992.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.37% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN boosted its position in Trustmark Corporation by 5.7% in the first quarter. Wells Fargo & Company MN now owns 2,162,191 shares of the financial services provider’s stock valued at $68,736,000 after buying an additional 117,103 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Trustmark Corporation by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 23,343 shares of the financial services provider’s stock valued at $742,000 after buying an additional 300 shares during the period. Breton Hill Capital Ltd. boosted its position in Trustmark Corporation by 333.9% in the first quarter. Breton Hill Capital Ltd. now owns 31,472 shares of the financial services provider’s stock valued at $1,000,000 after buying an additional 24,218 shares during the period. Janney Montgomery Scott LLC boosted its position in Trustmark Corporation by 24.5% in the first quarter. Janney Montgomery Scott LLC now owns 8,802 shares of the financial services provider’s stock valued at $280,000 after buying an additional 1,730 shares during the period. Finally, Glen Harbor Capital Management LLC boosted its position in Trustmark Corporation by 14.1% in the first quarter. Glen Harbor Capital Management LLC now owns 5,656 shares of the financial services provider’s stock valued at $180,000 after buying an additional 700 shares during the period. Institutional investors own 62.88% of the company’s stock.
Trustmark Corporation Company Profile
Trustmark Corporation is a bank holding company. The Company’s principal subsidiary is Trustmark National Bank (TNB). Through TNB and its subsidiaries, the Company operates as a financial services company providing banking and other financial solutions. It operates through three segments: General Banking, Wealth Management and Insurance.
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