Trustmark (NASDAQ:TRMK) Share Price Crosses Below 200-Day Moving Average – Here’s Why

Trustmark Corporation (NASDAQ:TRMK)’s share price passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $44.82 and traded as low as $44.47. Trustmark shares last traded at $44.73, with a volume of 400,741 shares.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. DA Davidson raised their price objective on shares of Trustmark from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Keefe, Bruyette & Woods boosted their target price on Trustmark from $48.00 to $50.00 and gave the stock a “market perform” rating in a report on Wednesday, September 16th. Weiss Ratings raised Trustmark from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, August 14th. Wall Street Zen upgraded Trustmark from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Finally, Piper Sandler increased their price target on Trustmark from $45.50 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Trustmark presently has a consensus rating of “Moderate Buy” and an average price target of $47.38.

Trustmark Trading Down 2.0%

The company’s 50-day moving average is $45.64 and its 200-day moving average is $44.82. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.88 and a current ratio of 0.89. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 11.18 and a beta of 0.69.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, October 27th. The financial services provider reported $1.00 earnings per share for the quarter, meeting the consensus estimate of $1.00. Trustmark had a net margin of 20.90% and a return on equity of 10.78%. The firm had revenue of $212.26 million during the quarter, compared to analysts’ expectations of $215.04 million. During the same quarter last year, the company posted $0.94 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, research analysts predict that Trustmark Corporation will post 3.68 earnings per share for the current year.

Trustmark Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, December 1st. Trustmark’s dividend payout ratio is 25.00%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Trustmark in the 2nd quarter valued at $395,920,000. Dimensional Fund Advisors LP increased its stake in shares of Trustmark by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,897,556 shares of the financial services provider’s stock valued at $164,244,000 after buying an additional 20,628 shares during the period. North Reef Capital Management LP acquired a new stake in shares of Trustmark in the 1st quarter valued at $82,296,000. Bank of New York Mellon Corp bought a new stake in shares of Trustmark during the second quarter worth $22,676,000. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Trustmark by 8.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 379,965 shares of the financial services provider’s stock worth $16,012,000 after acquiring an additional 29,092 shares during the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Company Profile

Trustmark Corporation (NASDAQ: TRMK) is a financial services company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides banking, wealth management and insurance services to individuals, businesses and institutional clients.

Trustmark’s banking activities include deposit accounts, consumer and commercial lending, mortgages, treasury management and other financial services. Its wealth management business offers trust, investment management, financial planning and related services, while its insurance operations provide personal and commercial insurance products.

Founded in 1889, Trustmark serves customers through banking and financial services operations in Mississippi, Alabama, Florida, Tennessee and Texas.