Wedge Capital Management L L P NC cut its position in shares of Trustmark Co. (NASDAQ:TRMK – Free Report) by 2.5% during the 4th quarter, Holdings Channel reports. The firm owned 26,677 shares of the financial services provider’s stock after selling 698 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Trustmark were worth $944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently modified their holdings of the company. Barclays PLC increased its stake in shares of Trustmark by 124.7% during the 3rd quarter. Barclays PLC now owns 125,743 shares of the financial services provider’s stock worth $4,001,000 after purchasing an additional 69,779 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Trustmark by 6.8% during the 3rd quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider’s stock worth $19,059,000 after purchasing an additional 37,989 shares during the last quarter. State Street Corp increased its stake in shares of Trustmark by 0.8% during the 3rd quarter. State Street Corp now owns 3,090,988 shares of the financial services provider’s stock worth $98,355,000 after purchasing an additional 24,450 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Trustmark by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,461,545 shares of the financial services provider’s stock worth $46,515,000 after purchasing an additional 15,627 shares during the last quarter. Finally, Magnolia Capital Advisors LLC acquired a new position in shares of Trustmark during the 2nd quarter worth about $1,081,000. 67.64% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts recently commented on TRMK shares. DA Davidson lifted their target price on shares of Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Truist Financial lifted their target price on shares of Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Finally, Hovde Group lifted their target price on shares of Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $35.20.
Insider Buying and Selling at Trustmark
In other news, Director Gerard R. Host sold 26,416 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $39.73, for a total value of $1,049,507.68. Following the completion of the transaction, the director now directly owns 26,792 shares in the company, valued at approximately $1,064,446.16. The trade was a 49.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Marcelo L. Eduardo sold 790 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were 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 $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 sold 34,206 shares of company stock valued at $1,347,991 in the last quarter. Company insiders own 1.50% of the company’s stock.
Trustmark Stock Performance
NASDAQ TRMK opened at $35.26 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $2.16 billion, a P/E ratio of 10.65 and a beta of 0.76. Trustmark Co. has a 12-month low of $25.24 and a 12-month high of $40.73. The firm has a 50-day moving average price of $36.85 and a two-hundred day moving average price of $34.33.
Trustmark (NASDAQ:TRMK – Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. The firm had revenue of $192.30 million during the quarter, compared to the consensus estimate of $192.77 million. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. During the same quarter in the previous year, the firm posted $0.64 EPS. Analysts anticipate that Trustmark Co. will post 2.96 earnings per share for the current year.
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.
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