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

Trustmark Corporation (NASDAQ:TRMK)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-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 changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TRMK shares. DA Davidson reiterated a “neutral” rating and issued a $44.00 price target on shares of Trustmark in a report on Wednesday, April 29th. Piper Sandler lifted their price target on Trustmark from $44.00 to $45.50 and gave the company a “neutral” rating in a report on Thursday, April 30th. Hovde Group lifted their price target on Trustmark from $42.00 to $44.50 and gave the company a “market perform” rating in a report on Thursday, January 29th. Wall Street Zen upgraded Trustmark from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Brean Capital started coverage on Trustmark in a research note on Thursday, March 12th. They set a “buy” rating on the stock. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $44.75.

Trustmark Trading Up 0.9%

The company has a 50 day moving average of $43.64 and a two-hundred day 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. The stock has a market capitalization of $2.62 billion, a PE ratio of 11.85 and a beta of 0.66.

Trustmark (NASDAQ:TRMK) last announced 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 firm had revenue of $208.07 million for the quarter, compared to the consensus estimate of $204.98 million. During the same period in the previous year, the business earned $0.88 EPS. Sell-side analysts predict that Trustmark Corporation will post 3.92 EPS for the current year.

Trustmark Dividend Announcement

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

Institutional Trading of Trustmark

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in Trustmark by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,897,556 shares of the financial services provider’s stock worth $164,244,000 after acquiring an additional 20,628 shares during the period. Wellington Management Group LLP lifted its position in Trustmark by 8.9% during the 3rd quarter. Wellington Management Group LLP now owns 3,883,882 shares of the financial services provider’s stock worth $153,802,000 after acquiring an additional 316,851 shares during the period. North Reef Capital Management LP acquired a new stake in Trustmark during the 1st quarter worth about $82,296,000. Geode Capital Management LLC lifted its position in Trustmark by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 1,491,837 shares of the financial services provider’s stock worth $58,112,000 after acquiring an additional 9,198 shares during the period. Finally, UBS Group AG lifted its position in Trustmark by 282.0% during the 4th quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock worth $24,944,000 after acquiring an additional 472,751 shares during the period. Institutional investors and hedge funds own 67.64% of the company’s stock.

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.