Raymond James & Associates Sells 3,517 Shares of Trustmark Co. (NASDAQ:TRMK)

Raymond James & Associates lowered its stake in Trustmark Co. (NASDAQ:TRMK) by 10.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,829 shares of the financial services provider’s stock after selling 3,517 shares during the quarter. Raymond James & Associates owned about 0.05% of Trustmark worth $860,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TRMK. Advisor Resource Council purchased a new stake in shares of Trustmark in the fourth quarter worth about $230,000. Diligent Investors LLC bought a new stake in Trustmark in the 4th quarter worth approximately $248,000. Ignite Planners LLC raised its holdings in shares of Trustmark by 924.4% during the 4th quarter. Ignite Planners LLC now owns 142,537 shares of the financial services provider’s stock worth $3,961,000 after acquiring an additional 128,623 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Trustmark by 28.8% during the 3rd quarter. American Century Companies Inc. now owns 372,172 shares of the financial services provider’s stock valued at $8,087,000 after acquiring an additional 83,181 shares during the last quarter. Finally, Teza Capital Management LLC purchased a new position in shares of Trustmark in the third quarter valued at $242,000. Institutional investors own 67.64% of the company’s stock.

Trustmark Price Performance

Shares of TRMK opened at $26.75 on Tuesday. Trustmark Co. has a fifty-two week low of $18.96 and a fifty-two week high of $28.65. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 9.87 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.85. The firm has a 50-day simple moving average of $26.73 and a 200-day simple moving average of $25.36.

Trustmark (NASDAQ:TRMK) last posted its earnings results on Wednesday, January 24th. The financial services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The company had revenue of $189.85 million for the quarter, compared to the consensus estimate of $187.63 million. Trustmark had a return on equity of 10.77% and a net margin of 15.06%. Trustmark’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 earnings per share. On average, equities research analysts anticipate that Trustmark Co. will post 2.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Friday. Piper Sandler reissued a “neutral” rating and issued a $29.00 price objective on shares of Trustmark in a research note on Tuesday, March 26th. Truist Financial boosted their target price on Trustmark from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, April 1st. Keefe, Bruyette & Woods upped their price objective on Trustmark from $27.00 to $30.00 and gave the company a “market perform” rating in a report on Friday, January 26th. Finally, DA Davidson reiterated a “neutral” rating on shares of Trustmark in a research note on Monday, January 15th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $29.67.

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.