Technicalspeculator.com Trade-of-the-Week: Trustmark Corp. (TRMK)

By Tech_Spec
7-September-2018 9:19:25 PM
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This week’s trade comes from the financial sector of NASDAQ.  Trustmark Corp. was founded in 1889 and is headquartered in Mississippi.  This company is another play on the expanding U.S. economy.  Trustmark is a full service bank and offers all the financial products.  Below is more information.

Company Profile: Trustmark Corporation operates as the bank holding company for Trustmark National Bank that provides banking and other financial solutions to individuals and corporate institutions in the United States. The company offers checking, savings, and money market accounts; individual retirement accounts; certificates of deposits; financing for commercial and industrial projects, income producing commercial real estate, owner-occupied real estate, and construction and land development; and installment and real estate loans, and lines of credit.   It also provides mortgage banking services, including construction financing, production of conventional and government insured mortgages, and secondary marketing and mortgage servicing; overdraft facilities; and treasury management services. In addition, the company offers business insurance products and services for medical professionals, construction, manufacturing, hospitality, real estate, and group life and health plans; life and health insurance, and personal line policies for individual customers; and an intermediary vehicle for the provision of loans or investments in low-income communities.

Fundamentals:

Trailing P/E: 19.08, Forward P/E: 15.50

EPS: 1.87, PEG: 2.27, Beta: 0.79

P/S: 4.12, P/B: 1.52

Profit Margin: 21.72%, Operating Margin: 31.87%

ROA: 0.93%, ROE: 8.07%

Qrtly Earnings Growth (yoy): 65.60%

Additional Fundamental Data: https://finance.yahoo.com/quote/TRMK/?p=TRMK

Technicals:

Recently broke out of a 19-month consolidation

New 52-week high, New all-time high

Buying momentum (RSI) is positive and rising, Buying volume is neutral

1st support level is at $34

The safety stop is at $33.20

The target is $40

Suggested buying approach: Buy a full position at the current price level. If TRMK pulls back, as long as the level is above the safety stop, wait for confirmation of support before deciding to add to the position.  Always use a 3% trailing stop.  

For more research and trading ideas, go to www.technicalspeculator.com. 

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Author: Tech_Spec

Canada’s only Master of Financial Technical Analysis (MFTA). This 4 – 5 year program offered by the International Federation of Technical Analysts (IFTA) in England is regarded as the global standard. • Instructor of Technical Analysis for the Canadian Securities Institute (CSI). My role is teaching market analysis to industry professionals. • Financial Technical Analyst offering 25 years experience in the financial and investment service industry. • Editor and owner of the Technicalspeculator.com, an on-line independent financial market research and newsletter website. • Registered Securities Advisor

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