Insider Selling: Trustmark Co. (NASDAQ:TRMK) Director Sells 26,416 Shares of Stock

Trustmark Co. (NASDAQ:TRMK) Director Gerard R. Host sold 26,416 shares of the business’s 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 completion of the sale, the director now owns 26,792 shares of the company’s stock, valued at $1,064,446.16. This trade represents a 49.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Trustmark Stock Down 0.2 %

Shares of TRMK opened at $38.15 on Friday. The firm has a 50 day simple moving average of $33.93 and a two-hundred day simple moving average of $31.95. The company has a market cap of $2.33 billion, a P/E ratio of 11.53 and a beta of 0.72. Trustmark Co. has a one year low of $22.11 and a one year high of $40.60. 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 (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 the consensus estimate 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 for the quarter, compared to analyst estimates of $192.77 million. During the same period in the previous year, the firm posted $0.64 EPS. Research analysts forecast that Trustmark Co. will post 2.93 EPS for the current fiscal year.

Trustmark Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Friday, November 29th. Trustmark’s dividend payout ratio (DPR) is currently 27.79%.

Hedge Funds Weigh In On Trustmark

Several large investors have recently modified their holdings of the business. GAMMA Investing LLC increased its stake in shares of Trustmark by 62.1% in the second quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock valued at $28,000 after buying an additional 351 shares during the period. Harbor Capital Advisors Inc. boosted its stake in shares of Trustmark by 2.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 17,356 shares of the financial services provider’s stock valued at $552,000 after purchasing an additional 415 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of Trustmark by 2.0% during the second quarter. Louisiana State Employees Retirement System now owns 30,800 shares of the financial services provider’s stock worth $925,000 after buying an additional 600 shares during the period. CWM LLC raised its stake in Trustmark by 14.6% during the second quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock worth $144,000 after buying an additional 611 shares during the last quarter. Finally, Texas Permanent School Fund Corp boosted its position in Trustmark by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 53,449 shares of the financial services provider’s stock valued at $1,502,000 after acquiring an additional 716 shares during the last quarter. Institutional investors own 67.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. DA Davidson lifted 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. Truist Financial increased their target price on shares of Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Hovde Group increased their price target 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 analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $35.20.

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.