Trustmark National Bank Trust Department Sells 23,722 Shares of Trustmark Co. (NASDAQ:TRMK)

Trustmark National Bank Trust Department cut its position in shares of Trustmark Co. (NASDAQ:TRMK - Free Report) by 15.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 130,412 shares of the financial services provider's stock after selling 23,722 shares during the period. Trustmark National Bank Trust Department owned 0.21% of Trustmark worth $4,150,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in Trustmark by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 4,050,787 shares of the financial services provider's stock worth $121,683,000 after acquiring an additional 64,334 shares during the last quarter. Earnest Partners LLC lifted its holdings in shares of 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 buying an additional 102,268 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Trustmark by 25.3% in the second quarter. American Century Companies Inc. now owns 986,322 shares of the financial services provider's stock valued at $29,629,000 after acquiring an additional 199,245 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Trustmark by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 685,875 shares of the financial services provider's stock worth $20,604,000 after purchasing an additional 2,714 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Trustmark by 6.8% during the 3rd quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider's stock worth $19,059,000 after purchasing an additional 37,989 shares in the last quarter. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports 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 raised their price target on Trustmark from $34.00 to $37.00 and gave the stock a "market perform" rating in a research report on Tuesday, October 29th. StockNews.com upgraded shares of Trustmark from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. Finally, Truist Financial boosted their target price 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 given a buy rating to the company. According to data from MarketBeat.com, Trustmark presently has an average rating of "Hold" and a consensus target price of $35.20.

Trustmark Price Performance

Shares of TRMK opened at $37.66 on Thursday. 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 cap of $2.30 billion, a PE ratio of 11.38 and a beta of 0.72. Trustmark Co. has a 12-month low of $22.11 and a 12-month high of $40.60. The business has a 50-day simple moving average of $34.31 and a two-hundred day simple moving average of $32.12.

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, beating analysts' consensus estimates of $0.82 by $0.02. The firm had revenue of $192.30 million for the quarter, compared to analyst estimates 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 previous year, the company posted $0.64 EPS. Analysts anticipate that Trustmark Co. will post 2.94 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be paid a $0.23 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.92 annualized dividend and a dividend yield of 2.44%. Trustmark's dividend payout ratio is currently 27.79%.

Insider Buying and Selling

In related news, Director Gerard R. Host sold 26,416 shares of the company's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $39.73, for a total value of $1,049,507.68. Following the sale, the director now owns 26,792 shares in the company, valued at $1,064,446.16. This represents a 49.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Marcelo L. Eduardo sold 790 shares of Trustmark stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total value of $28,353.10. Following the transaction, the director now owns 7,334 shares of the company's stock, valued at $263,217.26. This trade represents a 9.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,206 shares of company stock valued at $1,347,991 over the last ninety days. 1.50% of the stock is owned by corporate 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.

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