Fisher Asset Management LLC Sells 14,874 Shares of Trustmark Co. (NASDAQ:TRMK)

Fisher Asset Management LLC decreased its position in Trustmark Co. (NASDAQ:TRMK) by 3.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 414,159 shares of the financial services provider’s stock after selling 14,874 shares during the quarter. Fisher Asset Management LLC owned 0.68% of Trustmark worth $11,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of TRMK. Swiss National Bank lifted its position in Trustmark by 1.0% in the 3rd quarter. Swiss National Bank now owns 127,500 shares of the financial services provider’s stock worth $2,771,000 after buying an additional 1,300 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Trustmark by 13.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 831,103 shares of the financial services provider’s stock worth $18,060,000 after purchasing an additional 100,091 shares during the period. Deutsche Bank AG increased its stake in Trustmark by 15.4% in the 3rd quarter. Deutsche Bank AG now owns 29,797 shares of the financial services provider’s stock worth $647,000 after purchasing an additional 3,979 shares during the period. PNC Financial Services Group Inc. increased its stake in Trustmark by 30.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 12,382 shares of the financial services provider’s stock worth $269,000 after purchasing an additional 2,907 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in Trustmark by 244.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 176,036 shares of the financial services provider’s stock worth $3,825,000 after purchasing an additional 124,890 shares during the period. Institutional investors own 67.64% of the company’s stock.

Wall Street Analysts Forecast Growth

TRMK has been the topic of a number of analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $29.00 price target on shares of Trustmark in a research note on Tuesday, March 26th. Keefe, Bruyette & Woods raised Trustmark from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $30.00 to $36.00 in a research note on Thursday, April 25th. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a research note on Saturday, April 27th. Truist Financial boosted their target price on Trustmark from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Finally, DA Davidson boosted their target price on Trustmark from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $32.75.

Trustmark Price Performance

Shares of TRMK stock opened at $29.07 on Thursday. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 11.31 and a beta of 0.75. The business’s fifty day moving average is $28.95 and its 200 day moving average is $27.68. Trustmark Co. has a twelve month low of $18.96 and a twelve month high of $31.23. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.11.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.08. The company had revenue of $288.55 million for the quarter, compared to analysts’ expectations of $187.03 million. Trustmark had a return on equity of 10.04% and a net margin of 13.82%. During the same period in the prior year, the firm earned $0.82 earnings per share. Research analysts expect that Trustmark Co. will post 2.77 EPS for the current fiscal year.

Trustmark Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, June 15th. Investors of record on Saturday, June 1st were paid a $0.23 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.92 annualized dividend and a yield of 3.16%. Trustmark’s payout ratio is 35.80%.

Trustmark 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.