Trustmark Corp director sells shares worth $1.59 million

Gerard R. Host, a director at Trustmark Corp (NASDAQ:), recently executed a series of transactions involving the sale of company stock. On November 12 and 13, Host sold a total of 39,000 shares of Trustmark common stock, with sale prices ranging from $39.73 to $39.74 per share. These transactions, conducted through family trusts, resulted in a total sale value of approximately $1.59 million.

Following these sales, Host continues to hold 177,387 shares directly. It's important to note that the shares sold were held in family trusts, with Host's spouse acting as trustee. The director disclaims beneficial ownership of these securities.

In other recent news, Trustmark Corporation reported a significant increase in income, with a net income of $51.3 million and diluted earnings per share of $0.84, marking a 26.7% rise from the same period last year. The company's net interest income also saw a 9.5% growth, reaching $158 million. Truist Securities adjusted its outlook on Trustmark, increasing the price target to $36 from $35 while sustaining a Hold rating. This adjustment follows Trustmark's third-quarter earnings surpassing expectations, leading to an upward revision of the Core EPS estimates for the years 2024 and 2025.

Trustmark Corporation has appointed Lea B. Turnipseed as its new independent director. She will take up her new role effective January 1, 2025. In terms of company developments, Trustmark Corporation is actively pursuing merger and acquisition opportunities, particularly in Houston and Birmingham. These recent developments underline the company's strategic focus in a challenging economic environment. Despite some challenges, such as a decrease in deposits and an uptick in non-performing assets, Trustmark's management remains confident in the company's ability to navigate economic fluctuations and maintain a steady course for the future.

InvestingPro Insights

As Gerard R. Host reduces his stake in Trustmark Corp (NASDAQ:TRMK), investors may find value in examining the company's current financial position and market performance. According to InvestingPro data, Trustmark boasts a market capitalization of $2.35 billion and trades at a price-to-earnings ratio of 11.58, suggesting a potentially attractive valuation relative to its earnings.

Notably, Trustmark has demonstrated strong recent performance, with a 75.19% price total return over the past year and a 25.9% return in the last three months. This upward trajectory aligns with an InvestingPro Tip indicating that the company has experienced a "large price uptick over the last six months."

Another InvestingPro Tip highlights Trustmark's impressive track record of maintaining dividend payments for 52 consecutive years, which may appeal to income-focused investors. The company's current dividend yield stands at 2.37%, providing a steady income stream for shareholders.

For those seeking a more comprehensive analysis, InvestingPro offers 11 additional tips on Trustmark Corp, providing deeper insights into the company's financial health and market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.