Stock Buzzer: Is Buying 52-Week Stock Like Trustmark Corp a Winning Strategy?

Stock Buzzer: Is Buying 52 Week Stock Like Trustmark Corp a Winning Strategy?

The stock of Trustmark Corp (NASDAQ:TRMK) hit a new 52-week high and has $51.54 target or 55.00% above today’s $33.25 share price. The 6 months bullish chart indicates low risk for the $2.28B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $51.54 price target is reached, the company will be worth $1.25 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 123,091 shares traded hands. Trustmark Corp (NASDAQ:TRMK) has risen 38.07% since April 19, 2016 and is uptrending. It has outperformed by 34.21% the S&P500.

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 shares of TRMK in a report on Thursday, June 9 with “Neutral” rating. The stock of Trustmark Corp (NASDAQ:TRMK) earned “Market Perform” rating 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.
Deutsche Retail Bank Ag last reported 0% of its portfolio in the stock. Royal Bankshares Of Canada accumulated 11,731 shares or 0% of the stock. Manufacturers Life Communication The last reported 166,533 shares in the company. Bnp Paribas Arbitrage Sa accumulated 43,294 shares or 0% of the stock. Liberty Mutual Grp Incorporated Asset Management has invested 0.03% of its portfolio in Trustmark Corp (NASDAQ:TRMK). Ny State Teachers Retirement has 64,200 shares for 0% of their US portfolio. State Of Tennessee Treasury Department has 0.02% invested in the company for 130,000 shares. Blackrock Fund Advisors last reported 0.04% of its portfolio in the stock. Peoples Service Corporation has 103 shares for 0% of their US portfolio. Bridgeway Management Inc holds 0.02% or 52,900 shares in its portfolio. Somerset Tru holds 0.24% of its portfolio in Trustmark Corp (NASDAQ:TRMK) for 15,346 shares. The California-based Schwab Charles Inv Mngmt has invested 0.01% in Trustmark Corp (NASDAQ:TRMK). Connable Office has 0.06% invested in the company for 8,672 shares. Btim accumulated 451,146 shares or 0.19% of the stock. The Georgia-based Suntrust Banks Inc has invested 0% in Trustmark Corp (NASDAQ:TRMK).

Insider Transactions: Since November 15, 2016, the stock had 0 insider purchases, and 1 sale for $287,430 net activity. Gunn George C III also sold $287,430 worth of Trustmark Corp (NASDAQ:TRMK) on Tuesday, November 15.

More news for Trustmark Corp (NASDAQ:TRMK) were recently published by: Bizjournals.com, which released: “Trustmark announces $26 million merger” on November 14, 2016. Businesswire.com‘s article titled: “Fitch Affirms Trustmark Corp at ‘BBB+’ Following Midtier Regional Bank Review …” and published on January 28, 2016 is yet another important article.

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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