Public Sector Pension Investment Board Sells 4,800 Shares of Trustmark Co. (NASDAQ:TRMK)

Public Sector Pension Investment Board decreased its position in Trustmark Co. (NASDAQ:TRMK) by 3.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 129,851 shares of the financial services provider’s stock after selling 4,800 shares during the quarter. Public Sector Pension Investment Board’s holdings in Trustmark were worth $4,132,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TRMK. American Century Companies Inc. boosted its holdings in Trustmark by 25.3% during the second quarter. American Century Companies Inc. now owns 986,322 shares of the financial services provider’s stock worth $29,629,000 after purchasing an additional 199,245 shares during the last quarter. Hanson & Doremus Investment Management bought a new stake in Trustmark during the 2nd quarter worth about $4,199,000. Earnest Partners LLC boosted its stake in shares of Trustmark by 3.1% during the 2nd 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 during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Trustmark by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,050,787 shares of the financial services provider’s stock valued at $121,683,000 after acquiring an additional 64,334 shares in the last quarter. Finally, Elizabeth Park Capital Advisors Ltd. acquired a new stake in shares of Trustmark in the second quarter valued at about $1,866,000. Institutional investors and hedge funds own 67.64% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TRMK shares. DA Davidson upped their price objective on Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Truist Financial lifted their price objective 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. Finally, Hovde Group boosted their price objective on shares of Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Trustmark has a consensus rating of “Hold” and an average price target of $35.20.

Insider Transactions at Trustmark

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

Trustmark Trading Down 0.3 %

Shares of NASDAQ:TRMK opened at $38.98 on Tuesday. Trustmark Co. has a 12-month low of $23.87 and a 12-month high of $40.73. The business has a 50 day moving average of $35.40 and a 200-day moving average of $32.62. 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 $2.38 billion, a PE ratio of 11.78 and a beta of 0.72.

Trustmark (NASDAQ:TRMK) last announced its 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 net margin of 17.62% and a return on equity of 9.48%. The company had revenue of $192.30 million during the quarter, compared to analysts’ expectations of $192.77 million. During the same quarter in the previous year, the business posted $0.64 earnings per share. As a group, equities research analysts forecast that Trustmark Co. will post 2.94 earnings per share for the current year.

Trustmark Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be given a dividend of $0.23 per share. The ex-dividend date is Friday, November 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.36%. Trustmark’s payout ratio is presently 27.79%.

About Trustmark

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.