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

Integrated Investment Consultants LLC reduced its position in Trustmark Co. (NASDAQ:TRMK) by 3.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 15,134 shares of the financial services provider’s stock after selling 603 shares during the quarter. Integrated Investment Consultants LLC’s holdings in Trustmark were worth $482,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in TRMK. Intech Investment Management LLC acquired a new stake in shares of Trustmark in the 3rd quarter valued at approximately $338,000. Quest Partners LLC acquired a new stake in Trustmark in the third quarter valued at $309,000. GoalVest Advisory LLC purchased a new stake in shares of Trustmark during the 3rd quarter worth $63,000. Cornercap Investment Counsel Inc. acquired a new position in shares of Trustmark during the 3rd quarter worth $248,000. Finally, Aptus Capital Advisors LLC acquired a new position in shares of Trustmark during the 3rd quarter worth $537,000. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Trading Up 1.9 %

Shares of TRMK opened at $38.36 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. 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 price-to-earnings ratio of 11.60 and a beta of 0.72. The firm has a 50 day simple moving average of $34.31 and a 200-day simple moving average of $32.12.

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

Trustmark Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.40%. The ex-dividend date is Friday, November 29th. Trustmark’s payout ratio is 27.79%.

Insider Buying and Selling at Trustmark

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

Wall Street Analysts Forecast Growth

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

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.