Zacks Investment Research lowered shares of Trustmark Corporation (NASDAQ:TRMK) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.
According to Zacks, “Trustmark Corporation is a multi-bank holding company. Its primary business activities are conducted through its wholly-owned subsidiary, Trustmark National Bank and Trustmark National Bank’s wholly-owned nonbanking subsidiaries, Trustmark Financial Services, Inc. and Trustmark Insurance Agency, Inc. Trustmark National Bank accounts for substantially all of the assets and revenues of the company. “
TRMK has been the topic of several other reports. BidaskClub raised shares of Trustmark Corporation from a strong sell rating to a sell rating in a research note on Saturday, June 10th. Jefferies Group LLC restated a hold rating and issued a $35.00 target price on shares of Trustmark Corporation in a research note on Friday, June 9th. ValuEngine upgraded shares of Trustmark Corporation from a hold rating to a buy rating in a research note on Saturday. Stephens set a $35.00 target price on shares of Trustmark Corporation and gave the company a hold rating in a report on Wednesday, July 26th. Finally, Hovde Group downgraded shares of Trustmark Corporation from an outperform rating to a market perform rating and set a $34.00 target price on the stock. in a report on Friday, June 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Trustmark Corporation has a consensus rating of Hold and a consensus target price of $33.60.
Trustmark Corporation (NASDAQ TRMK) traded down 1.05% during midday trading on Tuesday, hitting $32.99. The stock had a trading volume of 74,150 shares. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 19.43 and a beta of 1.17. The stock has a 50 day moving average of $30.51 and a 200 day moving average of $31.58. Trustmark Corporation has a 12 month low of $26.81 and a 12 month high of $36.79.
Trustmark Corporation (NASDAQ:TRMK) last released its earnings results on Tuesday, July 25th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.03. Trustmark Corporation had a return on equity of 8.04% and a net margin of 18.35%. The business had revenue of $157.10 million for the quarter, compared to analyst estimates of $152.57 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. Analysts expect that Trustmark Corporation will post $1.75 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.76%. Trustmark Corporation’s dividend payout ratio is currently 54.12%.
In related news, insider Charles Scott Woods sold 1,000 shares of the company’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $32.00, for a total transaction of $32,000.00. Following the transaction, the insider now owns 13,344 shares of the company’s stock, valued at $427,008. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.37% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. purchased a new stake in shares of Trustmark Corporation during the 2nd quarter worth $1,594,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Trustmark Corporation by 1,529.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,513 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 7,052 shares during the period. Stifel Financial Corp grew its stake in shares of Trustmark Corporation by 9.3% during the 1st quarter. Stifel Financial Corp now owns 19,741 shares of the financial services provider’s stock worth $628,000 after purchasing an additional 1,683 shares during the period. Tudor Investment Corp ET AL grew its stake in shares of Trustmark Corporation by 121.9% during the 1st quarter. Tudor Investment Corp ET AL now owns 14,570 shares of the financial services provider’s stock worth $463,000 after purchasing an additional 8,003 shares during the period. Finally, Leavell Investment Management Inc. acquired a new position in shares of Trustmark Corporation during the 2nd quarter worth $216,000. 62.36% of the stock is owned by institutional investors.
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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