Amalgamated Bank Trims Stock Position in Trustmark Co. (NASDAQ:TRMK)

Amalgamated Bank lowered its position in shares of Trustmark Co. (NASDAQ:TRMK) by 3.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,996 shares of the financial services provider’s stock after selling 692 shares during the period. Amalgamated Bank’s holdings in Trustmark were worth $573,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of TRMK. GAMMA Investing LLC grew its stake in Trustmark by 62.1% during 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. EntryPoint Capital LLC purchased a new position in Trustmark during the first quarter valued at approximately $52,000. Innealta Capital LLC purchased a new position in Trustmark in the 2nd quarter worth approximately $61,000. nVerses Capital LLC purchased a new position in Trustmark in the 3rd quarter worth approximately $67,000. Finally, CWM LLC grew its stake in Trustmark by 14.6% in the 2nd 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. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Insider Activity at Trustmark

In related news, Director Gerard R. Host sold 26,416 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $39.73, for a total transaction of $1,049,507.68. Following the completion of the sale, the director now directly owns 26,792 shares in the company, valued at $1,064,446.16. This represents a 49.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Marcelo L. Eduardo sold 790 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total transaction of $28,353.10. Following the sale, 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. 1.50% of the stock is currently owned by company insiders.

Trustmark Trading Down 0.2 %

Shares of TRMK opened at $38.15 on Friday. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 11.53 and a beta of 0.72. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. Trustmark Co. has a fifty-two week low of $22.11 and a fifty-two week high of $40.60. The firm has a 50 day moving average price of $33.93 and a 200-day moving average price of $31.96.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.02. The firm had revenue of $192.30 million during the quarter, compared to analyst estimates of $192.77 million. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. During the same period in the previous year, the business posted $0.64 EPS. As a group, equities research analysts forecast that Trustmark Co. will post 2.93 earnings per share for the current year.

Trustmark Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be issued a $0.23 dividend. 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 2.41%. Trustmark’s payout ratio is 27.79%.

Analysts Set New Price Targets

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

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.