Oppenheimer Asset Management Inc. Lowers Position in Trustmark Corporation $TRMK

Oppenheimer Asset Management Inc. decreased its stake in Trustmark Corporation (NASDAQ:TRMK) by 13.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,936 shares of the financial services provider’s stock after selling 7,342 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.08% of Trustmark worth $1,675,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. AlphaQuest LLC grew its stake in shares of Trustmark by 372.0% during the 2nd quarter. AlphaQuest LLC now owns 53,691 shares of the financial services provider’s stock valued at $1,958,000 after acquiring an additional 42,316 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Trustmark during the second quarter valued at approximately $241,000. New York State Teachers Retirement System lifted its holdings in Trustmark by 5.7% during the second quarter. New York State Teachers Retirement System now owns 82,159 shares of the financial services provider’s stock valued at $2,996,000 after purchasing an additional 4,415 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. bought a new position in shares of Trustmark in the second quarter worth approximately $208,000. Finally, CWM LLC increased its stake in shares of Trustmark by 16.3% in the second quarter. CWM LLC now owns 6,577 shares of the financial services provider’s stock worth $240,000 after purchasing an additional 922 shares in the last quarter. Institutional investors own 67.64% of the company’s stock.

Wall Street Analyst Weigh In

TRMK has been the topic of a number of analyst reports. Zacks Research cut shares of Trustmark from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. Hovde Group raised their price target on Trustmark from $37.00 to $41.00 and gave the company a “market perform” rating in a report on Thursday, July 24th. DA Davidson upped their price objective on Trustmark from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Trustmark in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.25.

Insiders Place Their Bets

In other Trustmark news, Director Marcelo L. Eduardo sold 700 shares of Trustmark stock in a transaction on Monday, August 18th. The shares were sold at an average price of $38.49, for a total value of $26,943.00. Following the completion of the transaction, the director directly owned 8,577 shares of the company’s stock, valued at $330,128.73. This trade represents a 7.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Gerard R. Host sold 20,970 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $38.49, for a total transaction of $807,135.30. Following the completion of the sale, the director owned 158,360 shares in the company, valued at approximately $6,095,276.40. This trade represents a 11.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 23,226 shares of company stock valued at $897,299. 1.50% of the stock is currently owned by insiders.

Trustmark Stock Down 1.9%

TRMK opened at $37.24 on Friday. The company has a market capitalization of $2.25 billion, a PE ratio of 10.17 and a beta of 0.67. The firm has a 50-day simple moving average of $39.51 and a two-hundred day simple moving average of $37.20. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. Trustmark Corporation has a 52 week low of $29.77 and a 52 week high of $41.33.

Trustmark (NASDAQ:TRMK) last posted its earnings results on Tuesday, October 28th. The financial services provider reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The firm had revenue of $207.53 million during the quarter, compared to analysts’ expectations of $206.13 million. Trustmark had a return on equity of 10.90% and a net margin of 19.82%.Trustmark’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 earnings per share. Analysts forecast that Trustmark Corporation will post 3.42 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Monday, December 1st. Trustmark’s dividend payout ratio is currently 26.23%.

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.