Zacks Investment Research upgraded shares of Trustmark (NASDAQ:TRMK) from a sell rating to a hold rating in a research report sent to investors on Thursday 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. “
Other research analysts also recently issued research reports about the stock. Stephens set a $35.00 price target on shares of Trustmark and gave the stock a hold rating in a research report on Wednesday, October 24th. BidaskClub upgraded shares of Trustmark from a sell rating to a hold rating in a research report on Saturday, October 6th. ValuEngine upgraded shares of Trustmark from a sell rating to a hold rating in a research report on Tuesday, October 30th. SunTrust Banks dropped their price target on shares of Trustmark from $36.00 to $31.00 and set a hold rating on the stock in a research report on Monday, October 29th. Finally, Raymond James downgraded shares of Trustmark from a market perform rating to an underperform rating in a research report on Monday. Two analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The company currently has an average rating of Hold and a consensus price target of $34.50.
Trustmark (NASDAQ:TRMK) last posted its earnings results on Tuesday, October 23rd. The financial services provider reported $0.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.03). Trustmark had a return on equity of 9.21% and a net margin of 18.99%. The business had revenue of $157.23 million for the quarter, compared to the consensus estimate of $155.38 million. During the same period in the previous year, the firm earned $0.51 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year. As a group, equities research analysts predict that Trustmark will post 2.21 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Saturday, December 15th. Investors of record on Saturday, December 1st were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, November 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.14%. Trustmark’s payout ratio is presently 47.92%.
In related news, Director Leroy G. Walker, Jr. sold 1,789 shares of the stock in a transaction dated Monday, December 10th. The shares were sold at an average price of $30.35, for a total transaction of $54,296.15. Following the completion of the transaction, the director now owns 13,159 shares in the company, valued at $399,375.65. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Charles Scott Woods sold 1,500 shares of the stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $31.65, for a total transaction of $47,475.00. Following the transaction, the insider now owns 12,398 shares of the company’s stock, valued at approximately $392,396.70. The disclosure for this sale can be found here. Insiders have sold a total of 5,289 shares of company stock worth $163,671 in the last quarter. 1.50% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of TRMK. Teachers Advisors LLC lifted its stake in Trustmark by 1.1% in the third quarter. Teachers Advisors LLC now owns 130,646 shares of the financial services provider’s stock worth $4,396,000 after acquiring an additional 1,419 shares during the period. Advisors Asset Management Inc. raised its position in shares of Trustmark by 83.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,822 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 1,743 shares during the last quarter. Raymond James & Associates raised its position in shares of Trustmark by 8.1% in the 2nd quarter. Raymond James & Associates now owns 24,236 shares of the financial services provider’s stock worth $791,000 after purchasing an additional 1,823 shares during the last quarter. American International Group Inc. raised its position in shares of Trustmark by 1.1% in the 3rd quarter. American International Group Inc. now owns 180,964 shares of the financial services provider’s stock worth $6,089,000 after purchasing an additional 1,883 shares during the last quarter. Finally, Riverhead Capital Management LLC increased its holdings in Trustmark by 16.4% in the 3rd quarter. Riverhead Capital Management LLC now owns 13,459 shares of the financial services provider’s stock worth $453,000 after buying an additional 1,900 shares in the last quarter. Institutional investors own 71.36% of the company’s stock.
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 offers checking, savings, and money market accounts; individual retirement accounts; certificates of deposits; 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.
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