Charles Schwab Investment Management Inc. Lowers Holdings in Trustmark Co. (NASDAQ:TRMK)

Charles Schwab Investment Management Inc. trimmed its holdings in shares of Trustmark Co. (NASDAQ:TRMK - Free Report) by 2.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 888,124 shares of the financial services provider's stock after selling 18,714 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.45% of Trustmark worth $28,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Intech Investment Management LLC purchased a new position in Trustmark during the 3rd quarter worth $338,000. Quest Partners LLC purchased a new position in Trustmark during the 3rd quarter worth $309,000. GoalVest Advisory LLC purchased a new stake in Trustmark during the 3rd quarter valued at about $63,000. Cornercap Investment Counsel Inc. purchased a new stake in Trustmark during the 3rd quarter valued at about $248,000. Finally, Aptus Capital Advisors LLC purchased a new stake in Trustmark during the 3rd quarter valued at about $537,000. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Trustmark news, Director Marcelo L. Eduardo sold 790 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $35.89, for a total transaction of $28,353.10. Following the completion of the transaction, the director now owns 7,334 shares of the company's stock, valued at $263,217.26. This represents a 9.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gerard R. Host sold 7,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $38.59, for a total value of $270,130.00. Following the transaction, the director now directly owns 16,500 shares of the company's stock, valued at $636,735. The trade was a 29.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,206 shares of company stock valued at $1,347,991. 1.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TRMK. DA Davidson boosted their price target on Trustmark from $35.00 to $38.00 and gave the company a "neutral" rating in a research note on Thursday, October 24th. Hovde Group boosted their price target on Trustmark from $34.00 to $37.00 and gave the company a "market perform" rating in a research note on Tuesday, October 29th. StockNews.com upgraded Trustmark from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. Finally, Truist Financial boosted their price target on Trustmark from $35.00 to $36.00 and gave the company a "hold" rating in a research note on Friday, October 25th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $35.20.

Trustmark Stock Performance

Shares of TRMK traded down $0.79 during mid-day trading on Thursday, reaching $38.04. The company had a trading volume of 256,755 shares, compared to its average volume of 282,323. Trustmark Co. has a 52-week low of $24.88 and a 52-week high of $40.73. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $2.33 billion, a P/E ratio of 11.73 and a beta of 0.75. The stock has a 50 day moving average of $35.68 and a two-hundred day moving average of $32.72.

Trustmark (NASDAQ:TRMK - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.82 by $0.02. The company had revenue of $192.30 million during the quarter, compared to analysts' expectations of $192.77 million. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. During the same quarter in the prior year, the firm posted $0.64 EPS. On average, analysts expect that Trustmark Co. will post 2.94 earnings per share for the current year.

Trustmark Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be issued a $0.23 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.92 dividend on an annualized basis and a yield of 2.42%. Trustmark's payout ratio is 27.79%.

Trustmark 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 operates through three segments: General Banking, Wealth Management, and Insurance. It offers checking, savings, and money market accounts; certificates of deposits and individual retirement accounts; 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, as well as treasury management services.