Trustmark Corporation $TRMK Shares Sold by Trustmark Bank Trust Department

Trustmark Bank Trust Department trimmed its stake in Trustmark Corporation (NASDAQ:TRMK) by 5.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 270,801 shares of the financial services provider’s stock after selling 15,457 shares during the quarter. Trustmark comprises 0.7% of Trustmark Bank Trust Department’s portfolio, making the stock its 26th largest position. Trustmark Bank Trust Department owned about 0.47% of Trustmark worth $12,460,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Public Employees Retirement System of Ohio purchased a new position in Trustmark during the second quarter worth approximately $39,000. Rockefeller Capital Management L.P. grew its stake in shares of Trustmark by 1,129.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 848 shares of the financial services provider’s stock valued at $33,000 after buying an additional 779 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Trustmark during the 4th quarter worth $36,000. EverSource Wealth Advisors LLC increased its holdings in shares of Trustmark by 452.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock worth $46,000 after buying an additional 1,022 shares during the last quarter. Finally, Global Retirement Partners LLC purchased a new position in shares of Trustmark in the 2nd quarter worth $63,000. Institutional investors and hedge funds own 67.64% of the company’s stock.

Analyst Ratings Changes

TRMK has been the topic of a number of research reports. Wall Street Zen upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Piper Sandler increased their target price on shares of Trustmark from $45.50 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Trustmark from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, August 14th. Finally, DA Davidson lifted their price target on shares of Trustmark from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Trustmark currently has a consensus rating of “Hold” and a consensus price target of $46.12.

Trustmark Price Performance

Shares of NASDAQ TRMK opened at $46.27 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.87. Trustmark Corporation has a 1-year low of $36.33 and a 1-year high of $49.00. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 11.74 and a beta of 0.65. The business has a 50-day moving average of $46.79 and a 200-day moving average of $44.79.

Trustmark (NASDAQ:TRMK) last announced its earnings results on Tuesday, July 28th. The financial services provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. The business had revenue of $213.38 million for the quarter, compared to the consensus estimate of $210.30 million. Trustmark had a return on equity of 10.69% and a net margin of 20.75%.The company’s revenue was up 4.8% on a year-over-year basis. During the same period last year, the business posted $0.92 EPS. On average, equities analysts anticipate that Trustmark Corporation will post 3.93 EPS for the current fiscal year.

Trustmark Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.2%. Trustmark’s dividend payout ratio (DPR) is currently 25.38%.

About Trustmark

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.