First Horizon Advisors Inc. lessened its position in shares of Trustmark Co. (NASDAQ:TRMK – Get Rating) by 48.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,076 shares of the financial services provider’s stock after selling 1,025 shares during the quarter. First Horizon Advisors Inc.’s holdings in Trustmark were worth $32,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. Wipfli Financial Advisors LLC purchased a new stake in Trustmark in the third quarter valued at approximately $26,000. Russell Investments Group Ltd. purchased a new stake in shares of Trustmark in the 2nd quarter valued at $29,000. Ronald Blue Trust Inc. acquired a new stake in shares of Trustmark in the second quarter worth $42,000. Captrust Financial Advisors raised its holdings in shares of Trustmark by 351.1% during the second quarter. Captrust Financial Advisors now owns 5,945 shares of the financial services provider’s stock worth $174,000 after purchasing an additional 4,627 shares during the last quarter. Finally, ExodusPoint Capital Management LP acquired a new position in Trustmark during the second quarter valued at $272,000. 65.83% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have weighed in on TRMK shares. Truist Financial reduced their price objective on Trustmark from $37.00 to $30.00 and set a “hold” rating for the company in a research note on Wednesday, February 1st. DA Davidson initiated coverage on Trustmark in a report on Monday, January 9th. They issued a “neutral” rating and a $38.00 price target for the company. Piper Sandler dropped their price objective on shares of Trustmark from $36.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, January 26th. Finally, Hovde Group boosted their target price on shares of Trustmark to $38.00 in a research note on Tuesday, November 1st.
Trustmark Stock Down 0.9 %
Trustmark (NASDAQ:TRMK – Get Rating) last issued its quarterly earnings results on Tuesday, January 24th. The financial services provider reported $0.68 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.14). The company had revenue of $225.13 million during the quarter, compared to analysts’ expectations of $196.87 million. Trustmark had a return on equity of 9.48% and a net margin of 9.47%. During the same period in the previous year, the firm posted $0.42 EPS. Analysts predict that Trustmark Co. will post 2.61 earnings per share for the current fiscal year.
Trustmark Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Tuesday, February 28th. Trustmark’s dividend payout ratio is presently 79.31%.
Insider Buying and Selling
In other news, Director Tracy T. Conerly bought 1,500 shares of the firm’s stock in a transaction dated Friday, January 27th. The shares were acquired at an average price of $28.24 per share, for a total transaction of $42,360.00. Following the completion of the transaction, the director now directly owns 1,500 shares in the company, valued at approximately $42,360. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.
Trustmark Profile
Trustmark Corp. is a bank holding company. The firm engages in the provision of banking, wealth management and insurance solutions. It operates through the following segments: General Banking, Wealth Management and Insurance. The General Banking segment offers traditional banking products & services, including commercial and consumer banking services, such as checking accounts, savings programs, overdraft facilities, commercial, installment & real estate loans, home equity loans, lines of credit, drive-in & night deposit services and safe deposit facilities.
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