Trustmark (NASDAQ:TRMK) Shares Pass Above 200 Day Moving Average – Should You Sell?

Shares of Trustmark Corporation (NASDAQ:TRMK) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $41.92 and traded as high as $45.18. Trustmark shares last traded at $44.78, with a volume of 342,967 shares.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on TRMK shares. DA Davidson reissued a “neutral” rating and set a $44.00 price target on shares of Trustmark in a research note on Wednesday, April 29th. Wall Street Zen upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $45.00 price objective on shares of Trustmark in a report on Thursday, April 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Trustmark in a report on Monday, May 4th. Finally, Piper Sandler upped their target price on Trustmark from $44.00 to $45.50 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $44.75.

Trustmark Stock Up 0.9%

The firm has a market capitalization of $2.62 billion, a PE ratio of 11.85 and a beta of 0.66. The company has a fifty day simple moving average of $43.64 and a two-hundred day simple moving average of $41.92. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.89.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, April 28th. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.08. Trustmark had a return on equity of 10.74% and a net margin of 20.12%.The business had revenue of $208.07 million during the quarter, compared to analysts’ expectations of $204.98 million. During the same period in the prior year, the business earned $0.88 EPS. Analysts forecast that Trustmark Corporation will post 3.92 EPS for the current fiscal year.

Trustmark Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Monday, June 1st. Trustmark’s dividend payout ratio (DPR) is 26.46%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TRMK. North Reef Capital Management LP purchased a new position in shares of Trustmark in the 1st quarter valued at $82,296,000. UBS Group AG increased its holdings in shares of Trustmark by 282.0% in the 4th quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock valued at $24,944,000 after acquiring an additional 472,751 shares during the period. Wellington Management Group LLP increased its holdings in shares of Trustmark by 8.9% in the 3rd quarter. Wellington Management Group LLP now owns 3,883,882 shares of the financial services provider’s stock valued at $153,802,000 after acquiring an additional 316,851 shares during the period. Bridgeway Capital Management LLC increased its holdings in shares of Trustmark by 156.0% in the 4th quarter. Bridgeway Capital Management LLC now owns 389,333 shares of the financial services provider’s stock valued at $15,165,000 after acquiring an additional 237,266 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of Trustmark by 121.1% in the 1st quarter. Bank of America Corp DE now owns 316,772 shares of the financial services provider’s stock valued at $13,349,000 after acquiring an additional 173,486 shares during the period. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

About Trustmark

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.