Trustmark Corp. (TRMK) Sees Unusually-High Trading Volume
Trustmark Corp. (NASDAQ:TRMK) saw unusually-high trading volume on Friday . Approximately 1,064,181 shares changed hands during trading, an increase of 136% from the previous session’s volume of 450,618 shares.The stock last traded at $27.33 and had previously closed at $27.36.
TRMK has been the subject of several analyst reports. SunTrust Banks Inc. upped their price target on Trustmark Corp. from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, June 9th. Zacks Investment Research cut Trustmark Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, August 16th. Jefferies Group reiterated a “hold” rating and issued a $25.00 price objective on shares of Trustmark Corp. in a research report on Thursday, July 7th. Finally, Keefe, Bruyette & Woods upgraded Trustmark Corp. from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $23.00 to $25.00 in a research report on Thursday, July 28th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $25.75.
The firm’s 50 day moving average is $25.95 and its 200-day moving average is $24.06. The stock has a market cap of $1.85 billion and a P/E ratio of 17.63.
Trustmark Corp. (NASDAQ:TRMK) last issued its earnings results on Tuesday, July 26th. The financial services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.38 by $0.02. During the same period last year, the business posted $0.45 earnings per share. On average, equities research analysts forecast that Trustmark Corp. will post $1.64 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be given a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $0.92 annualized dividend and a dividend yield of 3.37%.
Several hedge funds and institutional investors have recently modified their holdings of the company. California Public Employees Retirement System raised its position in shares of Trustmark Corp. by 1.1% in the fourth quarter. California Public Employees Retirement System now owns 160,982 shares of the financial services provider’s stock valued at $3,709,000 after buying an additional 1,800 shares during the last quarter. Mutual of America Capital Management LLC raised its position in shares of Trustmark Corp. by 4.5% in the fourth quarter. Mutual of America Capital Management LLC now owns 47,099 shares of the financial services provider’s stock valued at $1,085,000 after buying an additional 2,018 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Trustmark Corp. by 28.3% in the fourth quarter. Wells Fargo & Company MN now owns 546,882 shares of the financial services provider’s stock valued at $12,602,000 after buying an additional 120,739 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Trustmark Corp. by 11.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,346,594 shares of the financial services provider’s stock valued at $77,107,000 after buying an additional 350,856 shares during the last quarter.
Trustmark Corporation (Trustmark) is a bank holding company. Trustmark’s principal subsidiary is Trustmark National Bank (TNB). Through TNB and other subsidiaries, Trustmark operates as a financial services organization providing banking and other financial solutions through approximately 205 offices in Alabama, Florida, Mississippi, Tennessee and Texas.
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