Trustmark (NASDAQ:TRMK) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Trustmark Co. (NASDAQ:TRMK) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $34.00 and traded as high as $34.72. Trustmark shares last traded at $34.38, with a volume of 257,309 shares.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TRMK shares. DA Davidson lifted their price objective on shares of Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Hovde Group boosted their price objective on Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Truist Financial raised their target price on Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Finally, StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $35.20.

Trustmark Stock Performance

The firm has a market capitalization of $2.10 billion, a PE ratio of 10.39 and a beta of 0.75. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average of $37.21 and a 200 day moving average of $34.00.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.02. The company had revenue of $192.30 million for the quarter, compared to analysts’ expectations of $192.77 million. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. During the same period in the prior year, the business earned $0.64 earnings per share. Equities research analysts predict that Trustmark Co. will post 2.94 EPS for the current year.

Trustmark Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.68%. The ex-dividend date was Friday, November 29th. Trustmark’s dividend payout ratio (DPR) is currently 27.79%.

Insider Transactions at Trustmark

In other Trustmark news, Director Gerard R. Host sold 26,416 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $39.73, for a total transaction of $1,049,507.68. Following the transaction, the director now directly owns 26,792 shares in the company, valued at $1,064,446.16. This trade represents a 49.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Marcelo L. Eduardo sold 790 shares of Trustmark stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $35.89, for a total transaction of $28,353.10. Following the transaction, the director now directly owns 7,334 shares in the company, valued at $263,217.26. This trade represents a 9.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,206 shares of company stock valued at $1,347,991. Insiders own 1.50% of the company’s stock.

Institutional Trading of Trustmark

Several institutional investors have recently added to or reduced their stakes in TRMK. Wellington Management Group LLP increased its holdings in shares of Trustmark by 32.6% in the third quarter. Wellington Management Group LLP now owns 1,356,853 shares of the financial services provider’s stock worth $43,175,000 after buying an additional 333,390 shares during the period. American Century Companies Inc. grew its position in Trustmark by 25.3% during the 2nd quarter. American Century Companies Inc. now owns 986,322 shares of the financial services provider’s stock worth $29,629,000 after acquiring an additional 199,245 shares during the last quarter. Hanson & Doremus Investment Management purchased a new position in Trustmark in the 2nd quarter worth approximately $4,199,000. Verition Fund Management LLC lifted its position in Trustmark by 19.8% in the third quarter. Verition Fund Management LLC now owns 778,312 shares of the financial services provider’s stock valued at $24,766,000 after purchasing an additional 128,834 shares during the last quarter. Finally, Earnest Partners LLC boosted its stake in shares of Trustmark by 3.1% during the second quarter. Earnest Partners LLC now owns 3,442,019 shares of the financial services provider’s stock valued at $103,398,000 after purchasing an additional 102,268 shares during the period. 67.64% of the stock is currently 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.