Integrated Investment Consultants LLC Lowers Stock Position in Trustmark Co. (NASDAQ:TRMK)

Integrated Investment Consultants LLC trimmed its stake in Trustmark Co. (NASDAQ:TRMK) by 3.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 15,134 shares of the financial services provider’s stock after selling 603 shares during the period. Integrated Investment Consultants LLC’s holdings in Trustmark were worth $482,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System boosted its holdings in Trustmark by 101.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 35,048 shares of the financial services provider’s stock valued at $985,000 after acquiring an additional 17,670 shares during the period. Kennedy Capital Management LLC purchased a new position in shares of Trustmark in the first quarter valued at approximately $2,604,000. Magnolia Capital Advisors LLC acquired a new position in shares of Trustmark in the second quarter valued at approximately $1,081,000. Dimensional Fund Advisors LP increased its stake in Trustmark by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,050,787 shares of the financial services provider’s stock worth $121,683,000 after buying an additional 64,334 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in Trustmark by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 12,277 shares of the financial services provider’s stock worth $345,000 after buying an additional 844 shares in the last quarter. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Trustmark Trading Up 1.9 %

NASDAQ:TRMK opened at $38.36 on Friday. Trustmark Co. has a 1 year low of $22.11 and a 1 year high of $40.60. The stock has a market cap of $2.35 billion, a P/E ratio of 11.60 and a beta of 0.72. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. The stock has a 50-day simple moving average of $34.31 and a 200-day simple moving average of $32.12.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. The firm had revenue of $192.30 million during the quarter, compared to the consensus estimate of $192.77 million. During the same period in the prior year, the company posted $0.64 earnings per share. As a group, analysts anticipate that Trustmark Co. will post 2.94 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.92 dividend on an annualized basis and a yield of 2.40%. Trustmark’s dividend payout ratio (DPR) is presently 27.79%.

Insider Activity at Trustmark

In other news, Director Gerard R. Host sold 26,416 shares of Trustmark stock in a transaction on 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 transaction, the director now directly owns 26,792 shares of the company’s stock, valued at $1,064,446.16. The trade was a 49.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Marcelo L. Eduardo sold 790 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $35.89, for a total transaction of $28,353.10. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 34,206 shares of company stock valued at $1,347,991 over the last ninety days. Insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TRMK shares. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Hovde Group upped their price target on Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. DA Davidson increased their price target on Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Finally, Truist Financial boosted their price objective on Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Five investment 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 stock has an average rating of “Hold” and a consensus target price of $35.20.

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.