Stock of The Day: Could Trustmark Corp See a Reversal After Breaking All Highs?

Stock of The Day: Could Trustmark Corp See a Reversal After Breaking All Highs?

The stock of Trustmark Corp (NASDAQ:TRMK) reached all time high today, Nov, 24 and still has $35.77 target or 4.00% above today’s $34.39 share price. This indicates more upside for the $2.35B company. This technical setup was reported by Barchart.com. If the $35.77 PT is reached, the company will be worth $94.00M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 1.48% or $0.5 on November 23, hitting $34.39. About 355,840 shares traded hands or 9.82% up from the average. Trustmark Corp (NASDAQ:TRMK) has risen 40.83% since April 22, 2016 and is uptrending. It has outperformed by 35.42% the S&P500.

Analysts await Trustmark Corp (NASDAQ:TRMK) to report earnings on January, 24. They expect $0.41 EPS, down 4.65% or $0.02 from last year’s $0.43 per share. TRMK’s profit will be $28.02M for 20.97 P/E if the $0.41 EPS becomes a reality. After $0.46 actual EPS reported by Trustmark Corp for the previous quarter, Wall Street now forecasts -10.87% negative EPS growth.

Trustmark Corp (NASDAQ:TRMK) Ratings Coverage

Out of 5 analysts covering Trustmark Corp (NASDAQ:TRMK), 0 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 0 are positive. Trustmark Corp has been the topic of 7 analyst reports since August 26, 2015 according to StockzIntelligence Inc. SunTrust maintained the stock with “Neutral” rating in Thursday, June 9 report. The stock has “Market Perform” rating given by Hovde Group on Wednesday, October 7.

According to Zacks Investment Research, “Trustmark Corporation is a multi-bank holding company. Its primary business activities are conducted through its wholly-owned subsidiary, Trustmark National Bank and Trustmark National Bank’s wholly-owned nonbanking subsidiaries, Trustmark Financial Services, Inc. and Trustmark Insurance Agency, Inc. Trustmark National Bank accounts for substantially all of the assets and revenues of the company.”

Insitutional Activity: The institutional sentiment increased to 1.25 in Q2 2016. Its up 0.06, from 1.19 in 2016Q1. The ratio improved, as 13 funds sold all Trustmark Corp shares owned while 51 reduced positions. 16 funds bought stakes while 60 increased positions. They now own 41.21 million shares or 3.93% more from 39.65 million shares in 2016Q1.
Jpmorgan Chase & last reported 0% of its portfolio in the stock. Tudor Invest Et Al last reported 0.01% of its portfolio in the stock. Metropolitan Life Ny has invested 0.02% of its portfolio in Trustmark Corp (NASDAQ:TRMK). Mutual Of America Capital Limited Liability Corporation holds 49,951 shares or 0.03% of its portfolio. State Street has 0.01% invested in the company for 2.53 million shares. Employees Retirement Association Of Colorado, a Colorado-based fund reported 14,606 shares. Gofen And Glossberg Lc Il holds 0.01% of its portfolio in Trustmark Corp (NASDAQ:TRMK) for 12,048 shares. Ladenburg Thalmann Fincl Svcs accumulated 0% or 103 shares. First Advisors Limited Partnership, a Illinois-based fund reported 284,302 shares. Profund Advisors Lc accumulated 0.02% or 15,649 shares. Hancock holds 0.45% or 431,178 shares in its portfolio. Advsr Asset Mngmt accumulated 0% or 1,800 shares. Bkd Wealth Llc holds 0.04% or 10,488 shares in its portfolio. Janney Montgomery Scott Ltd Company has 0% invested in the company for 8,173 shares. Alpenglow Capital L P holds 2.43% or 107,200 shares in its portfolio.

Insider Transactions: Since November 15, 2016, the stock had 0 insider buys, and 1 sale for $287,430 net activity. Gunn George C III sold 9,000 shares worth $287,430.

Another recent and important Trustmark Corp (NASDAQ:TRMK) news was published by Bizjournals.com which published an article titled: “Trustmark announces $26 million merger” on November 14, 2016.

TRMK Company Profile

Trustmark Corporation, incorporated on August 5, 1968, is a bank holding company. The Company’s principal subsidiary is Trustmark National Bank (TNB). The Firm operates through three divisions: General Banking, Insurance and Wealth Management. Through TNB and other subsidiaries, the Company operates as a financial services firm providing banking and other financial solutions through approximately 200 offices in Alabama, Florida, Mississippi, Tennessee and Texas. TNB provides a range of commercial banking services to firms and other business customers. Loans are provided for a range of general corporate purposes, including financing for commercial and industrial projects, income producing commercial real estate, owner-occupied real estate and construction and land development. TNB also provides deposit services, including checking, savings and money market accounts and certificates of deposit, as well as treasury management services. TNB’s banking services to clients include checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts. In addition, TNB provides clients with installment and real estate loans and lines of credit. TNB provides mortgage-banking services, including construction financing, production of conventional and government insured mortgages, secondary marketing and mortgage servicing.

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