Franklin Resources Inc. Has $381,000 Stock Position in Trustmark Co. (NASDAQ:TRMK)

Franklin Resources Inc. lessened its holdings in Trustmark Co. (NASDAQ:TRMK - Free Report) by 79.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,327 shares of the financial services provider's stock after selling 43,341 shares during the quarter. Franklin Resources Inc.'s holdings in Trustmark were worth $381,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in Trustmark by 32.6% during the third quarter. Wellington Management Group LLP now owns 1,356,853 shares of the financial services provider's stock worth $43,175,000 after buying an additional 333,390 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Trustmark by 25.3% during the 2nd quarter. American Century Companies Inc. now owns 986,322 shares of the financial services provider's stock worth $29,629,000 after purchasing an additional 199,245 shares during the last quarter. Hanson & Doremus Investment Management bought a new stake in shares of Trustmark in the 2nd quarter valued at about $4,199,000. Verition Fund Management LLC lifted its stake in Trustmark by 19.8% in the 3rd quarter. Verition Fund Management LLC now owns 778,312 shares of the financial services provider's stock valued at $24,766,000 after purchasing an additional 128,834 shares during the last quarter. Finally, Earnest Partners LLC grew its holdings in Trustmark by 3.1% during the second quarter. Earnest Partners LLC now owns 3,442,019 shares of the financial services provider's stock worth $103,398,000 after purchasing an additional 102,268 shares during the period. Institutional investors and hedge funds own 67.64% of the company's stock.

Analyst Ratings Changes

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

Trustmark Stock Performance

Shares of TRMK traded down $0.29 during midday trading on Wednesday, reaching $35.37. 419,349 shares of the stock were exchanged, compared to its average volume of 281,798. The stock's 50 day simple moving average is $37.20 and its 200 day simple moving average is $33.80. The company has a market cap of $2.16 billion, a P/E ratio of 10.69 and a beta of 0.75. Trustmark Co. has a twelve month low of $25.24 and a twelve month 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.

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

Trustmark Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.92 dividend on an annualized basis and a yield of 2.60%. Trustmark's dividend payout ratio (DPR) is presently 27.79%.

Insider Activity

In related news, 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 transaction of $270,130.00. Following the sale, the director now owns 16,500 shares in the company, valued at approximately $636,735. This trade represents a 29.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Marcelo L. Eduardo sold 790 shares of the business's stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total transaction of $28,353.10. Following the transaction, the director now owns 7,334 shares of the company's stock, valued at approximately $263,217.26. This represents a 9.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 34,206 shares of company stock worth $1,347,991. 1.50% of the stock is currently owned by company insiders.

Trustmark 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.