Commonwealth Equity Services LLC Sells 917 Shares of Trustmark Co. (NASDAQ:TRMK)

Commonwealth Equity Services LLC trimmed its position in Trustmark Co. (NASDAQ:TRMK) by 7.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,070 shares of the financial services provider’s stock after selling 917 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Trustmark were worth $363,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TRMK. GAMMA Investing LLC lifted its holdings in Trustmark by 62.1% during the 2nd quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 351 shares during the last quarter. EntryPoint Capital LLC bought a new stake in Trustmark during the 1st quarter worth approximately $52,000. Innealta Capital LLC acquired a new stake in Trustmark during the 2nd quarter valued at $61,000. CWM LLC grew its holdings in Trustmark by 14.6% during the 2nd quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock worth $144,000 after acquiring an additional 611 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. acquired a new stake in shares of Trustmark in the second quarter valued at approximately $238,000. 67.64% of the stock is owned by institutional investors.

Trustmark Price Performance

NASDAQ:TRMK opened at $32.72 on Monday. The firm’s 50-day simple moving average is $32.63 and its 200 day simple moving average is $29.95. Trustmark Co. has a 52 week low of $18.96 and a 52 week high of $35.72. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 12.73 and a beta of 0.74. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 0.87.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.03. The business had revenue of $283.96 million for the quarter, compared to analyst estimates of $229.83 million. Trustmark had a net margin of 16.24% and a return on equity of 9.32%. During the same quarter last year, the business posted $0.74 EPS. As a group, sell-side analysts predict that Trustmark Co. will post 2.93 earnings per share for the current year.

Trustmark Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Friday, August 30th. Trustmark’s dividend payout ratio is 35.80%.

Analysts Set New Price Targets

A number of research firms have issued reports on TRMK. Truist Financial cut their target price on shares of Trustmark from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Friday. DA Davidson increased their price target on Trustmark from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Trustmark presently has a consensus rating of “Hold” and an average price target of $34.50.

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.