Trustmark Corporation $TRMK Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC decreased its holdings in shares of Trustmark Corporation (NASDAQ:TRMK) by 22.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,587 shares of the financial services provider’s stock after selling 3,430 shares during the quarter. HighTower Advisors LLC’s holdings in Trustmark were worth $400,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in Trustmark in the first quarter valued at $508,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Trustmark during the fourth quarter worth about $212,000. Raymond James Financial Inc. acquired a new position in shares of Trustmark during the fourth quarter worth about $1,145,000. Deutsche Bank AG lifted its stake in shares of Trustmark by 54.5% in the fourth quarter. Deutsche Bank AG now owns 52,756 shares of the financial services provider’s stock worth $1,866,000 after acquiring an additional 18,603 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of Trustmark by 165.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 3,289 shares of the financial services provider’s stock worth $116,000 after acquiring an additional 2,051 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Insider Buying and Selling

In related news, Director Gerard R. Host sold 1,556 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $40.63, for a total value of $63,220.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Marcelo L. Eduardo sold 700 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $38.49, for a total value of $26,943.00. Following the completion of the sale, the director owned 8,577 shares in the company, valued at approximately $330,128.73. This represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,226 shares of company stock worth $897,299 over the last quarter. Insiders own 1.50% of the company’s stock.

Trustmark Stock Down 0.6%

Shares of Trustmark stock opened at $40.27 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The business’s 50 day simple moving average is $38.09 and its 200-day simple moving average is $35.71. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 11.31 and a beta of 0.71. Trustmark Corporation has a twelve month low of $29.77 and a twelve month high of $40.81.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.06. The business had revenue of $203.44 million for the quarter, compared to analysts’ expectations of $200.35 million. Trustmark had a return on equity of 10.81% and a net margin of 19.21%.During the same period in the prior year, the firm earned $0.66 EPS. Equities research analysts forecast that Trustmark Corporation will post 3.42 earnings per share for the current year.

Trustmark Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, August 29th. Trustmark’s dividend payout ratio is presently 26.97%.

Wall Street Analyst Weigh In

Several research firms recently commented on TRMK. Hovde Group boosted their price target on Trustmark from $37.00 to $41.00 and gave the stock a “market perform” rating in a research note on Thursday, July 24th. DA Davidson boosted their price target on Trustmark from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Finally, Wall Street Zen cut Trustmark from a “buy” rating to a “hold” rating in a research note on Saturday, June 7th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $41.00.

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.