Victory Capital Management Inc. Sells 4,924 Shares of Trustmark Co. (NASDAQ:TRMK)

Victory Capital Management Inc. lessened its holdings in shares of Trustmark Co. (NASDAQ:TRMK) by 17.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,794 shares of the financial services provider’s stock after selling 4,924 shares during the period. Victory Capital Management Inc.’s holdings in Trustmark were worth $725,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. American Century Companies Inc. increased its stake in shares of Trustmark by 25.3% during the second quarter. American Century Companies Inc. now owns 986,322 shares of the financial services provider’s stock valued at $29,629,000 after buying an additional 199,245 shares during the period. Hanson & Doremus Investment Management purchased a new position in Trustmark during the 2nd quarter valued at $4,199,000. Earnest Partners LLC increased its position in Trustmark by 3.1% during the 2nd 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. Dimensional Fund Advisors LP raised its holdings in Trustmark by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,050,787 shares of the financial services provider’s stock worth $121,683,000 after purchasing an additional 64,334 shares in the last quarter. Finally, Elizabeth Park Capital Advisors Ltd. purchased a new stake in shares of Trustmark in the 2nd quarter worth about $1,866,000. Institutional investors own 67.64% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, Director Gerard R. Host sold 7,000 shares of the 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 sale, the director now owns 16,500 shares in the company, valued at $636,735. This represents a 29.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Marcelo L. Eduardo sold 790 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $35.89, for a total transaction of $28,353.10. Following the completion of the transaction, the director now owns 7,334 shares of the company’s stock, valued at approximately $263,217.26. The trade was a 9.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,206 shares of company stock worth $1,347,991 in the last quarter. Corporate insiders own 1.50% of the company’s stock.

Trustmark Price Performance

Shares of NASDAQ TRMK opened at $39.68 on Friday. The company has a 50 day simple moving average of $35.02 and a two-hundred day simple moving average of $32.42. Trustmark Co. has a fifty-two week low of $22.11 and a fifty-two week high of $40.73. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 11.99 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 (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.02. The company had revenue of $192.30 million for the quarter, compared to the consensus estimate of $192.77 million. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. During the same quarter in the prior year, the business posted $0.64 EPS. Analysts expect that Trustmark Co. will post 2.94 EPS for the current fiscal year.

Trustmark Announces Dividend

The business also recently declared 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. This represents a $0.92 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, November 29th. Trustmark’s dividend payout ratio is presently 27.79%.

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.