Fisher Asset Management LLC Sells 14,131 Shares of Trustmark Co. (NASDAQ:TRMK)

Fisher Asset Management LLC lowered its holdings in Trustmark Co. (NASDAQ:TRMK) by 3.4% during the third quarter, Holdings Channel.com reports. The firm owned 398,432 shares of the financial services provider’s stock after selling 14,131 shares during the period. Fisher Asset Management LLC’s holdings in Trustmark were worth $12,678,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in TRMK. American Century Companies Inc. lifted its position in Trustmark by 25.3% during the 2nd quarter. American Century Companies Inc. now owns 986,322 shares of the financial services provider’s stock worth $29,629,000 after buying an additional 199,245 shares in the last quarter. Hanson & Doremus Investment Management bought a new position in shares of Trustmark in the second quarter worth about $4,199,000. Earnest Partners LLC grew its stake in shares of Trustmark by 3.1% during the second quarter. Earnest Partners LLC now owns 3,442,019 shares of the financial services provider’s stock valued at $103,398,000 after purchasing an additional 102,268 shares during the last quarter. Kennedy Capital Management LLC acquired a new stake in shares of Trustmark in the first quarter valued at approximately $2,604,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Trustmark by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,050,787 shares of the financial services provider’s stock valued at $121,683,000 after purchasing an additional 64,334 shares in the last quarter. Institutional investors own 67.64% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, Director Gerard R. Host sold 7,000 shares of Trustmark stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $38.59, for a total transaction of $270,130.00. Following the transaction, the director now owns 16,500 shares in the company, valued at $636,735. The trade was a 29.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Marcelo L. Eduardo sold 790 shares of the business’s stock in a transaction that occurred 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. This represents a 9.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,206 shares of company stock valued at $1,347,991 in the last quarter. Company insiders own 1.50% of the company’s stock.

Trustmark Trading Down 0.3 %

NASDAQ:TRMK opened at $39.68 on Thursday. 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. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 12.02 and a beta of 0.72. The business’s 50-day moving average price is $34.88 and its two-hundred day moving average price is $32.37.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $192.77 million. During the same period in the prior year, the business posted $0.64 EPS. On average, equities analysts expect that Trustmark Co. will post 2.94 earnings per share for the current year.

Trustmark Dividend Announcement

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

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.