Harbor Capital Advisors Inc. Sells 1,699 Shares of Trustmark Co. (NASDAQ:TRMK)

Harbor Capital Advisors Inc. trimmed its holdings in Trustmark Co. (NASDAQ:TRMK) by 9.8% during the fourth quarter, Holdings Channel reports. The firm owned 15,657 shares of the financial services provider’s stock after selling 1,699 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Trustmark were worth $554,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Wellington Management Group LLP increased its stake in Trustmark by 32.6% in the third quarter. Wellington Management Group LLP now owns 1,356,853 shares of the financial services provider’s stock valued at $43,175,000 after purchasing an additional 333,390 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Trustmark by 25.3% in 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 buying an additional 199,245 shares during the period. Verition Fund Management LLC increased its position in Trustmark by 19.8% in the 3rd quarter. Verition Fund Management LLC now owns 778,312 shares of the financial services provider’s stock valued at $24,766,000 after buying an additional 128,834 shares in the last quarter. Earnest Partners LLC raised its stake in Trustmark by 3.1% during the 2nd quarter. Earnest Partners LLC now owns 3,442,019 shares of the financial services provider’s stock worth $103,398,000 after buying an additional 102,268 shares during the period. Finally, Barclays PLC boosted its holdings in Trustmark by 124.7% in the third quarter. Barclays PLC now owns 125,743 shares of the financial services provider’s stock worth $4,001,000 after acquiring an additional 69,779 shares in the last quarter. Institutional investors own 67.64% of the company’s stock.

Insider Activity at Trustmark

In related news, Director Gerard R. Host sold 26,416 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $39.73, for a total transaction of $1,049,507.68. Following the completion of the sale, the director now owns 26,792 shares in the company, valued at approximately $1,064,446.16. This trade represents a 49.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Marcelo L. Eduardo sold 790 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $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. Over the last three months, insiders sold 34,206 shares of company stock valued at $1,347,991. 1.50% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Trustmark Price Performance

Shares of NASDAQ:TRMK opened at $34.76 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The stock has a market cap of $2.13 billion, a PE ratio of 10.50 and a beta of 0.76. The stock’s fifty day simple moving average is $37.16 and its two-hundred day simple moving average is $34.17. Trustmark Co. has a 1-year low of $25.24 and a 1-year high of $40.73.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. The company had revenue of $192.30 million for the quarter, compared to analyst estimates of $192.77 million. During the same period last year, the firm earned $0.64 earnings per share. As a group, analysts forecast that Trustmark Co. will post 2.94 EPS for the current fiscal year.

Trustmark Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.65%. Trustmark’s payout ratio is presently 27.79%.

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.