Trustmark Co. (NASDAQ:TRMK) Position Lessened by Fisher Asset Management LLC

Fisher Asset Management LLC lowered its position in Trustmark Co. (NASDAQ:TRMK) by 3.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 398,432 shares of the financial services provider’s stock after selling 14,131 shares during the quarter. Fisher Asset Management LLC owned approximately 0.65% of Trustmark worth $12,678,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TRMK. Russell Investments Group Ltd. acquired a new position in Trustmark in the first quarter worth approximately $240,000. CANADA LIFE ASSURANCE Co increased its stake in shares of Trustmark by 6.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 54,949 shares of the financial services provider’s stock worth $1,542,000 after purchasing an additional 3,492 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Trustmark by 4.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 46,070 shares of the financial services provider’s stock valued at $1,296,000 after purchasing an additional 2,109 shares in the last quarter. Kennedy Capital Management LLC acquired a new stake in shares of Trustmark in the 1st quarter valued at $2,604,000. Finally, Comerica Bank boosted its holdings in Trustmark by 18.7% in the first quarter. Comerica Bank now owns 34,013 shares of the financial services provider’s stock worth $956,000 after purchasing an additional 5,360 shares in the last quarter. 67.64% of the stock is owned by institutional investors and hedge funds.

Trustmark Stock Down 0.3 %

TRMK opened at $39.68 on Thursday. The business has a 50 day moving average of $34.88 and a 200-day moving average of $32.37. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 12.02 and a beta of 0.72. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. Trustmark Co. has a 1-year low of $22.11 and a 1-year high of $40.73.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $192.30 million for the quarter, compared to analyst estimates of $192.77 million. During the same period in the previous year, the company posted $0.64 earnings per share. As a group, sell-side analysts anticipate that Trustmark Co. will post 2.94 earnings per share for the current year.

Trustmark Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, November 29th. Trustmark’s dividend payout ratio is 27.79%.

Analyst Ratings Changes

Several research firms have weighed in on TRMK. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. DA Davidson boosted their target price on Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Hovde Group increased their price target on Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Finally, Truist Financial boosted their price objective on shares of Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Five research 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, Trustmark currently has a consensus rating of “Hold” and an average target price 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 transaction 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 approximately $263,217.26. This trade represents a 9.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 completion of the sale, the director now directly owns 26,792 shares in the company, valued at approximately $1,064,446.16. The trade was a 49.65 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 34,206 shares of company stock valued at $1,347,991. Company insiders own 1.50% of the company’s stock.

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.