State of Alaska Department of Revenue Sells 1,005 Shares of Trustmark Co. (NASDAQ:TRMK)

State of Alaska Department of Revenue trimmed its stake in Trustmark Co. (NASDAQ:TRMK) by 2.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,928 shares of the financial services provider’s stock after selling 1,005 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Trustmark worth $1,111,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. grew its position in Trustmark by 25.3% during the 2nd quarter. American Century Companies Inc. now owns 986,322 shares of the financial services provider’s stock valued at $29,629,000 after purchasing an additional 199,245 shares during the last quarter. Stieven Capital Advisors L.P. lifted its holdings in shares of Trustmark by 57.2% during the 1st quarter. Stieven Capital Advisors L.P. now owns 503,000 shares of the financial services provider’s stock valued at $14,139,000 after buying an additional 183,100 shares during the period. Hanson & Doremus Investment Management purchased a new position in Trustmark in the second quarter worth about $4,199,000. Earnest Partners LLC raised its position in Trustmark by 3.1% in the second quarter. Earnest Partners LLC now owns 3,442,019 shares of the financial services provider’s stock worth $103,398,000 after acquiring an additional 102,268 shares during the period. Finally, Kennedy Capital Management LLC bought a new position in shares of Trustmark in the first quarter worth about $2,604,000. 67.64% of the stock is owned by hedge funds and other institutional investors.

Trustmark Stock Performance

Trustmark stock opened at $33.97 on Tuesday. The firm has a market capitalization of $2.08 billion, a P/E ratio of 10.26 and a beta of 0.72. The company’s 50-day moving average is $32.95 and its 200 day moving average is $31.38. Trustmark Co. has a 1-year low of $20.74 and a 1-year high of $36.14. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.02. The business had revenue of $192.30 million for the quarter, compared to analyst estimates of $192.77 million. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. During the same quarter last year, the firm posted $0.64 earnings per share. Research analysts forecast that Trustmark Co. will post 2.93 EPS for the current year.

Trustmark Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be paid a $0.23 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.92 dividend on an annualized basis and a yield of 2.71%. Trustmark’s dividend payout ratio is currently 27.79%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TRMK. Hovde Group increased their price objective on shares of Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Truist Financial lifted their price objective on shares of Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. DA Davidson increased their price target on shares of Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Finally, StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $35.20.

Insider Transactions at Trustmark

In related news, 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 value of $28,353.10. Following the completion of the sale, the director now owns 7,334 shares in the company, valued at approximately $263,217.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.50% of the company’s stock.

Trustmark Company 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.