Insider Selling: Trustmark Co. (NASDAQ:TRMK) Director Sells 7,000 Shares of Stock

Trustmark Co. (NASDAQ:TRMK) Director Gerard R. Host sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $38.59, for a total transaction of $270,130.00. Following the completion of the sale, the director now owns 16,500 shares in the company, valued at $636,735. The trade was a 29.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Trustmark Price Performance

Shares of Trustmark stock traded down $0.15 during trading on Monday, hitting $38.00. 57,153 shares of the company’s stock traded hands, compared to its average volume of 279,592. 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 firm’s fifty day moving average price is $33.93 and its 200 day moving average price is $31.98. Trustmark Co. has a twelve month low of $22.11 and a twelve month high of $40.60. The company has a market cap of $2.32 billion, a PE ratio of 11.53 and a beta of 0.72.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. The firm had revenue of $192.30 million for 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 earned $0.64 earnings per share. Analysts forecast that Trustmark Co. will post 2.93 earnings per share for the current year.

Trustmark Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Friday, November 29th. Trustmark’s dividend payout ratio is presently 27.79%.

Hedge Funds Weigh In On Trustmark

Institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP raised its stake in shares of Trustmark by 32.6% during 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 position in Trustmark by 25.3% during the second 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 in the last quarter. Stieven Capital Advisors L.P. increased its position in Trustmark by 57.2% during the first quarter. Stieven Capital Advisors L.P. now owns 503,000 shares of the financial services provider’s stock worth $14,139,000 after acquiring an additional 183,100 shares during the period. Hanson & Doremus Investment Management bought a new position in Trustmark during the second quarter worth about $4,199,000. Finally, Verition Fund Management LLC increased its position in Trustmark by 19.8% during the third quarter. Verition Fund Management LLC now owns 778,312 shares of the financial services provider’s stock worth $24,766,000 after acquiring an additional 128,834 shares during the period. 67.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TRMK shares. DA Davidson raised their price objective on shares of Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Truist Financial raised their price objective on shares of Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Hovde Group raised their price objective on shares of Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Finally, StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Trustmark has a consensus 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.