Choreo LLC Cuts Stake in Trustmark Co. (NASDAQ:TRMK)

Choreo LLC lessened its stake in Trustmark Co. (NASDAQ:TRMK) by 4.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,770 shares of the financial services provider’s stock after selling 385 shares during the quarter. Choreo LLC’s holdings in Trustmark were worth $277,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. GoalVest Advisory LLC bought a new stake in Trustmark in the third quarter worth $63,000. nVerses Capital LLC bought a new stake in shares of Trustmark in the 3rd quarter worth about $67,000. KBC Group NV raised its position in shares of Trustmark by 43.0% during the 4th quarter. KBC Group NV now owns 3,163 shares of the financial services provider’s stock valued at $112,000 after buying an additional 951 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Trustmark during the 3rd quarter valued at about $130,000. Finally, Blue Trust Inc. lifted its holdings in shares of Trustmark by 225.2% in the 3rd quarter. Blue Trust Inc. now owns 4,953 shares of the financial services provider’s stock valued at $149,000 after acquiring an additional 3,430 shares during the last quarter. 67.64% of the stock is owned by hedge funds and other institutional investors.

Trustmark Stock Performance

TRMK stock opened at $37.67 on Friday. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 10.35 and a beta of 0.76. Trustmark Co. has a twelve month low of $25.24 and a twelve month high of $40.73. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The business’s fifty day simple moving average is $36.25 and its two-hundred day simple moving average is $34.90.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. Analysts predict that Trustmark Co. will post 3.4 earnings per share for the current year.

Trustmark Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be paid a $0.24 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.96 annualized dividend and a yield of 2.55%. This is a boost from Trustmark’s previous quarterly dividend of $0.23. Trustmark’s dividend payout ratio is 25.27%.

Analyst Upgrades and Downgrades

TRMK has been the topic of a number of recent research reports. Truist Financial upped their price objective on Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Hovde Group increased their price target on Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods lifted their price objective on shares of Trustmark from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Janney Montgomery Scott began coverage on shares of Trustmark in a research note on Friday, January 24th. They issued a “buy” rating and a $42.00 target price on the stock. Finally, DA Davidson lifted their price target on shares of Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Trustmark currently has a consensus rating of “Hold” and an average target price of $38.67.

About Trustmark

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.