IFP Advisors Inc Sells 347 Shares of Trustmark Corporation $TRMK

IFP Advisors Inc decreased its holdings in Trustmark Corporation (NASDAQ:TRMK) by 23.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,108 shares of the financial services provider’s stock after selling 347 shares during the quarter. IFP Advisors Inc’s holdings in Trustmark were worth $40,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of TRMK. Wellington Management Group LLP raised its stake in Trustmark by 34.2% in the 1st quarter. Wellington Management Group LLP now owns 3,318,799 shares of the financial services provider’s stock worth $114,465,000 after purchasing an additional 846,238 shares in the last quarter. Nuveen LLC acquired a new stake in Trustmark in the 1st quarter worth about $5,697,000. Edgestream Partners L.P. raised its stake in Trustmark by 172.9% in the 1st quarter. Edgestream Partners L.P. now owns 204,665 shares of the financial services provider’s stock worth $7,059,000 after purchasing an additional 129,679 shares in the last quarter. Trexquant Investment LP raised its stake in Trustmark by 379.0% in the 1st quarter. Trexquant Investment LP now owns 125,516 shares of the financial services provider’s stock worth $4,329,000 after purchasing an additional 99,313 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Trustmark by 11.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 993,941 shares of the financial services provider’s stock worth $34,281,000 after purchasing an additional 99,134 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Insider Activity at Trustmark

In related news, Director Marcelo L. Eduardo sold 700 shares of Trustmark stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $38.49, for a total transaction of $26,943.00. Following the sale, the director directly owned 8,577 shares of the company’s stock, valued at approximately $330,128.73. The trade was a 7.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gerard R. Host sold 1,556 shares of Trustmark stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $40.63, for a total transaction of $63,220.28. 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 ninety days. 1.50% of the stock is currently owned by insiders.

Trustmark Trading Down 0.3%

Shares of Trustmark stock opened at $38.16 on Wednesday. The firm has a market capitalization of $2.30 billion, a PE ratio of 10.72 and a beta of 0.67. 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 firm’s 50 day moving average is $39.59 and its 200 day moving average is $36.88. Trustmark Corporation has a 1 year low of $29.77 and a 1 year high of $41.33.

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

Analyst Ratings Changes

TRMK has been the subject of several analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Trustmark in a research note on Wednesday, October 8th. DA Davidson raised their target price on shares of Trustmark from $39.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Zacks Research lowered shares of Trustmark from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Finally, Hovde Group raised their target price on shares of Trustmark from $37.00 to $41.00 and gave the company a “market perform” rating in a report on Thursday, July 24th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.