Sanctuary Advisors LLC Reduces Holdings in Trustmark Co. (NASDAQ:TRMK)

Sanctuary Advisors LLC reduced its stake in Trustmark Co. (NASDAQ:TRMK) by 17.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,096 shares of the financial services provider’s stock after selling 2,582 shares during the quarter. Sanctuary Advisors LLC’s holdings in Trustmark were worth $385,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of TRMK. Wellington Management Group LLP raised its holdings in shares of Trustmark by 32.6% in the third quarter. Wellington Management Group LLP now owns 1,356,853 shares of the financial services provider’s stock worth $43,175,000 after buying an additional 333,390 shares during the last quarter. American Century Companies Inc. raised its stake in Trustmark by 25.3% in the 2nd quarter. American Century Companies Inc. now owns 986,322 shares of the financial services provider’s stock worth $29,629,000 after acquiring an additional 199,245 shares during the last quarter. Hanson & Doremus Investment Management acquired a new stake in Trustmark during the 2nd quarter worth about $4,199,000. Verition Fund Management LLC grew its stake in Trustmark by 19.8% during the 3rd quarter. Verition Fund Management LLC now owns 778,312 shares of the financial services provider’s stock valued at $24,766,000 after purchasing an additional 128,834 shares during the last quarter. Finally, Earnest Partners LLC increased its holdings in shares of Trustmark by 3.1% in the second quarter. Earnest Partners LLC now owns 3,442,019 shares of the financial services provider’s stock valued at $103,398,000 after purchasing an additional 102,268 shares during the period. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Trustmark

In other Trustmark news, Director Gerard R. Host sold 26,416 shares of the company’s stock in a transaction 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Marcelo L. Eduardo sold 790 shares of Trustmark stock in a transaction 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 represents a 9.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,206 shares of company stock worth $1,347,991. Insiders own 1.50% of the company’s stock.

Trustmark Stock Up 0.7 %

Trustmark stock opened at $36.36 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. The stock has a market capitalization of $2.22 billion, a PE ratio of 10.98 and a beta of 0.75. The business has a 50 day simple moving average of $37.08 and a 200-day simple moving average of $33.53. Trustmark Co. has a 12 month low of $25.24 and a 12 month high of $40.73.

Trustmark (NASDAQ:TRMK) last posted 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. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. The company had revenue of $192.30 million during the quarter, compared to analysts’ expectations of $192.77 million. During the same period in the prior year, the business posted $0.64 earnings per share. On average, analysts anticipate that Trustmark Co. will post 2.94 EPS for the current fiscal year.

Trustmark Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.53%. The ex-dividend date was Friday, November 29th. Trustmark’s payout ratio is 27.79%.

Wall Street Analyst Weigh In

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