Mutual of America Capital Management LLC Sells 854 Shares of Trustmark Co. (NASDAQ:TRMK)

Mutual of America Capital Management LLC lessened its stake in Trustmark Co. (NASDAQ:TRMK) by 8.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,206 shares of the financial services provider’s stock after selling 854 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Trustmark were worth $293,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in shares of Trustmark in the first quarter worth about $240,000. CANADA LIFE ASSURANCE Co increased its holdings in shares of Trustmark by 6.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 54,949 shares of the financial services provider’s stock worth $1,542,000 after acquiring an additional 3,492 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Trustmark by 4.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 46,070 shares of the financial services provider’s stock worth $1,296,000 after acquiring an additional 2,109 shares in the last quarter. Comerica Bank increased its holdings in shares of Trustmark by 18.7% in the first quarter. Comerica Bank now owns 34,013 shares of the financial services provider’s stock worth $956,000 after acquiring an additional 5,360 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings 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 worth $28,000 after acquiring an additional 351 shares in the last quarter. Institutional investors own 67.64% of the company’s stock.

Insider Activity

In other news, 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 transaction of $1,049,507.68. Following the transaction, the director now owns 26,792 shares in the company, valued at approximately $1,064,446.16. This trade represents a 49.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 in the company, valued at approximately $263,217.26. This trade represents a 9.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,206 shares of company stock valued at $1,347,991 over the last three months. Insiders own 1.50% of the company’s stock.

Trustmark Stock Performance

Shares of NASDAQ TRMK opened at $39.68 on Friday. The stock has a 50 day moving average price of $35.02 and a 200 day moving average price of $32.42. Trustmark Co. has a 52 week low of $22.11 and a 52 week high of $40.73. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. The stock has a market capitalization of $2.43 billion, a PE ratio of 11.99 and a beta of 0.72.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (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 last year, the firm posted $0.64 earnings per share. Analysts predict that Trustmark Co. will post 2.94 earnings per share for the current fiscal 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 given a $0.23 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.32%. Trustmark’s payout ratio is 27.79%.

Analyst Ratings Changes

TRMK has been the subject of several recent analyst reports. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Hovde Group upped their price objective on Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. DA Davidson upped their price objective on Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Finally, Truist Financial upped their price objective on Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $35.20.

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.