Trustmark Co. (NASDAQ:TRMK) Position Cut by Cadence Bank

Cadence Bank decreased its position in shares of Trustmark Co. (NASDAQ:TRMK) by 3.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,025 shares of the financial services provider’s stock after selling 600 shares during the quarter. Cadence Bank’s holdings in Trustmark were worth $510,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of TRMK. GAMMA Investing LLC boosted its stake in Trustmark by 62.1% during the 2nd quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 351 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of Trustmark by 2.4% during the third quarter. Harbor Capital Advisors Inc. now owns 17,356 shares of the financial services provider’s stock worth $552,000 after buying an additional 415 shares during the period. Louisiana State Employees Retirement System grew its holdings in Trustmark by 2.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 30,800 shares of the financial services provider’s stock worth $925,000 after buying an additional 600 shares in the last quarter. CWM LLC increased its position in Trustmark by 14.6% in the 2nd quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock valued at $144,000 after acquiring an additional 611 shares during the period. Finally, Barnes Pettey Financial Advisors LLC raised its stake in Trustmark by 9.2% during the 2nd quarter. Barnes Pettey Financial Advisors LLC now owns 8,882 shares of the financial services provider’s stock valued at $267,000 after acquiring an additional 750 shares in the last quarter. Institutional investors own 67.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. DA Davidson increased their target price on shares of Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Truist Financial boosted their price target on shares of Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Finally, Hovde Group increased their price objective on shares of Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $35.20.

Trustmark Stock Performance

NASDAQ:TRMK opened at $39.68 on Thursday. The company has a 50-day moving average of $34.88 and a 200-day moving average of $32.37. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 11.99 and a beta of 0.72. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. Trustmark Co. has a twelve month low of $22.11 and a twelve month high of $40.73.

Trustmark (NASDAQ:TRMK) last issued its 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 firm had revenue of $192.30 million during the quarter, compared to analysts’ expectations of $192.77 million. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. During the same period last year, the firm posted $0.64 earnings per share. Analysts forecast that Trustmark Co. will post 2.94 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The business also recently announced 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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, November 29th. Trustmark’s payout ratio is 27.79%.

Insider Transactions at Trustmark

In other news, Director Marcelo L. Eduardo sold 790 shares of Trustmark stock in a transaction that occurred on 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 directly owns 7,334 shares of the company’s stock, valued at $263,217.26. This trade represents a 9.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gerard R. Host sold 7,000 shares of the company’s 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 completion of the sale, the director now owns 16,500 shares of the company’s stock, valued at approximately $636,735. This trade represents a 29.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,206 shares of company stock valued at $1,347,991 over the last three months. Company insiders own 1.50% of the company’s stock.

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.