Connable Office Inc. Sells 753 Shares of Trustmark Co. (NASDAQ:TRMK)

Connable Office Inc. lowered its stake in Trustmark Co. (NASDAQ:TRMK) by 4.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,548 shares of the financial services provider’s stock after selling 753 shares during the period. Connable Office Inc.’s holdings in Trustmark were worth $467,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Victory Capital Management Inc. raised its position in Trustmark by 70.6% during the fourth quarter. Victory Capital Management Inc. now owns 270,237 shares of the financial services provider’s stock valued at $7,534,000 after purchasing an additional 111,842 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Trustmark by 6.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 883,423 shares of the financial services provider’s stock valued at $24,630,000 after buying an additional 52,320 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Trustmark by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,830,150 shares of the financial services provider’s stock valued at $106,786,000 after acquiring an additional 59,068 shares during the last quarter. Norges Bank acquired a new position in Trustmark during the fourth quarter worth about $10,992,000. Finally, Hsbc Holdings PLC acquired a new position in Trustmark during the fourth quarter worth about $8,215,000. Institutional investors and hedge funds own 67.64% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TRMK shares. Truist Financial lifted their price target on shares of Trustmark from $31.00 to $37.00 and gave the company a “hold” rating in a report on Thursday, July 25th. DA Davidson raised their target price on shares of Trustmark from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $35.00.

Trustmark Stock Performance

Trustmark stock opened at $32.00 on Monday. Trustmark Co. has a 1 year low of $18.96 and a 1 year high of $35.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market capitalization of $1.96 billion, a P/E ratio of 12.45 and a beta of 0.74. The business has a 50 day moving average of $32.17 and a 200-day moving average of $29.56.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. The company had revenue of $283.96 million for the quarter, compared to analyst estimates of $229.83 million. Trustmark had a net margin of 16.24% and a return on equity of 9.32%. During the same quarter in the previous year, the business earned $0.74 earnings per share. On average, equities research analysts predict that Trustmark Co. will post 2.93 earnings per share for the current year.

Trustmark Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.88%. Trustmark’s payout ratio is 35.80%.

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.