Charles Schwab Investment Management Inc. Lowers Holdings in Trustmark Co. (NASDAQ:TRMK)

Charles Schwab Investment Management Inc. trimmed its holdings in Trustmark Co. (NASDAQ:TRMK) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 888,124 shares of the financial services provider’s stock after selling 18,714 shares during the period. Charles Schwab Investment Management Inc. owned about 1.45% of Trustmark worth $28,260,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in TRMK. GAMMA Investing LLC lifted its position 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 acquiring an additional 351 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Trustmark in the second quarter valued at about $61,000. GoalVest Advisory LLC purchased a new position in shares of Trustmark in the third quarter valued at about $63,000. nVerses Capital LLC purchased a new stake in shares of Trustmark in the third quarter worth about $67,000. Finally, CWM LLC lifted its position in shares of Trustmark by 14.6% in 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 in the last quarter. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Marcelo L. Eduardo sold 790 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $35.89, for a total value of $28,353.10. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gerard R. Host sold 26,416 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $39.73, for a total value of $1,049,507.68. Following the completion of the transaction, the director now directly owns 26,792 shares in the company, valued at approximately $1,064,446.16. This trade represents a 49.65 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,206 shares of company stock valued at $1,347,991. 1.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TRMK shares. Truist Financial boosted their target price on Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. DA Davidson boosted their target price on Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Hovde Group boosted their target price 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 research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $35.20.

Trustmark Trading Up 1.4 %

Shares of NASDAQ TRMK opened at $38.83 on Thursday. The business’s 50 day moving average is $35.68 and its two-hundred day moving average is $32.72. 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 Co. has a 1-year low of $24.74 and a 1-year high of $40.73. The stock has a market capitalization of $2.37 billion, a P/E ratio of 11.73 and a beta of 0.75.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.02. The company had revenue of $192.30 million for the quarter, compared to analysts’ expectations of $192.77 million. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. During the same period in the previous year, the firm posted $0.64 earnings per share. As a group, research analysts expect that Trustmark Co. will post 2.94 EPS for the current year.

Trustmark Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be paid a dividend of $0.23 per share. The ex-dividend date is Friday, November 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.37%. 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.