Trustmark Co. (NASDAQ:TRMK) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lessened its stake in shares of Trustmark Co. (NASDAQ:TRMK) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of TRMK. Harbor Capital Advisors Inc. boosted its position in shares of Trustmark by 2.4% during the third quarter. Harbor Capital Advisors Inc. now owns 17,356 shares of the financial services provider’s stock worth $552,000 after buying an additional 415 shares during the period. Legacy Wealth Management LLC MS boosted its position in shares of Trustmark by 10.3% during the third quarter. Legacy Wealth Management LLC MS now owns 10,700 shares of the financial services provider’s stock worth $340,000 after buying an additional 1,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Trustmark by 11.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,991 shares of the financial services provider’s stock worth $413,000 after buying an additional 1,381 shares during the period. GoalVest Advisory LLC acquired a new position in shares of Trustmark during the third quarter worth approximately $63,000. Finally, nVerses Capital LLC acquired a new position in shares of Trustmark during the third quarter worth approximately $67,000. Institutional investors and hedge funds own 67.64% of the company’s stock.

Insider Activity

In other news, Director Gerard R. Host sold 26,416 shares of Trustmark stock in a transaction on 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 transaction, the director now directly owns 26,792 shares of the company’s stock, valued at $1,064,446.16. This trade represents a 49.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Marcelo L. Eduardo sold 790 shares of Trustmark stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $35.89, for a total transaction of $28,353.10. Following the transaction, the director now directly owns 7,334 shares in the company, valued at approximately $263,217.26. This represents a 9.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,206 shares of company stock valued at $1,347,991 over the last three months. 1.50% of the stock is owned by insiders.

Trustmark Price Performance

NASDAQ TRMK opened at $35.26 on Tuesday. The stock 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 1 year low of $25.24 and a 1 year high of $40.73. The business’s fifty day moving average is $36.85 and its two-hundred day moving average is $34.33. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87.

Trustmark (NASDAQ:TRMK) last posted its quarterly 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. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. The business had revenue of $192.30 million for the quarter, compared to the consensus estimate of $192.77 million. During the same period in the prior year, the business posted $0.64 earnings per share. On average, research analysts forecast that Trustmark Co. will post 2.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.