Trustmark Corporation (NASDAQ:TRMK) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday.
Other equities analysts have also issued research reports about the stock. Hovde Group increased their target price on shares of Trustmark Corporation from $36.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, April 27th. Jefferies Group LLC reiterated a “hold” rating and issued a $35.00 target price on shares of Trustmark Corporation in a research report on Friday, June 9th. ValuEngine upgraded shares of Trustmark Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Stephens set a $35.00 target price on shares of Trustmark Corporation and gave the company a “hold” rating in a research report on Wednesday, July 26th. Finally, Zacks Investment Research lowered shares of Trustmark Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Trustmark Corporation has an average rating of “Hold” and an average price target of $34.20.
Trustmark Corporation (NASDAQ TRMK) traded up 0.16% during mid-day trading on Friday, hitting $31.70. 176,616 shares of the stock traded hands. The stock has a 50-day moving average of $32.29 and a 200 day moving average of $32.39. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of 18.67 and a beta of 1.13. Trustmark Corporation has a 1-year low of $25.56 and a 1-year high of $36.79.
Trustmark Corporation (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.44 by $0.03. The business had revenue of $157.10 million during the quarter, compared to analyst estimates of $152.57 million. Trustmark Corporation had a net margin of 18.35% and a return on equity of 8.04%. During the same quarter in the prior year, the firm earned $0.40 earnings per share. On average, equities analysts expect that Trustmark Corporation will post $1.75 EPS for the current year.
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In related news, insider Duane A. Dewey sold 5,748 shares of the stock in a transaction dated 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 approximately $860,992.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charles Scott Woods sold 1,000 shares of the stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $32.00, for a total transaction of $32,000.00. Following the completion of the transaction, the insider now owns 13,344 shares of the company’s stock, valued at approximately $427,008. The disclosure for this sale can be found here. Corporate insiders own 1.37% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Flinton Capital Management LLC raised its position in shares of Trustmark Corporation by 14.1% in the first quarter. Flinton Capital Management LLC now owns 3,232 shares of the financial services provider’s stock worth $103,000 after buying an additional 400 shares in the last quarter. Creative Planning increased its stake in shares of Trustmark Corporation by 1.7% in the first quarter. Creative Planning now owns 3,464 shares of the financial services provider’s stock worth $110,000 after buying an additional 59 shares during the last quarter. Meadow Creek Investment Management LLC increased its stake in shares of Trustmark Corporation by 14.1% in the first quarter. Meadow Creek Investment Management LLC now owns 4,444 shares of the financial services provider’s stock worth $141,000 after buying an additional 550 shares during the last quarter. Integrated Investment Consultants LLC increased its stake in shares of Trustmark Corporation by 13.8% in the second quarter. Integrated Investment Consultants LLC now owns 4,925 shares of the financial services provider’s stock worth $158,000 after buying an additional 598 shares during the last quarter. Finally, LS Investment Advisors LLC increased its stake in shares of Trustmark Corporation by 21.1% in the second quarter. LS Investment Advisors LLC now owns 5,411 shares of the financial services provider’s stock worth $174,000 after buying an additional 941 shares during the last quarter. Hedge funds and other institutional investors own 62.36% of the company’s stock.
About Trustmark Corporation
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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