Public Sector Pension Investment Board Sells 4,800 Shares of Trustmark Co. (NASDAQ:TRMK)

Public Sector Pension Investment Board trimmed its position in Trustmark Co. (NASDAQ:TRMK) by 3.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,851 shares of the financial services provider’s stock after selling 4,800 shares during the quarter. Public Sector Pension Investment Board owned 0.21% of Trustmark worth $4,132,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Trustmark by 11.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,991 shares of the financial services provider’s stock worth $413,000 after acquiring an additional 1,381 shares during the period. BNP Paribas Financial Markets lifted its stake in Trustmark by 93.4% during the third quarter. BNP Paribas Financial Markets now owns 23,767 shares of the financial services provider’s stock worth $756,000 after purchasing an additional 11,477 shares during the period. FMR LLC boosted its holdings in Trustmark by 143.4% during the third quarter. FMR LLC now owns 6,851 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 4,036 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Trustmark in the 3rd quarter valued at approximately $327,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Trustmark by 6.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 32,926 shares of the financial services provider’s stock worth $1,048,000 after buying an additional 2,137 shares in the last quarter. 67.64% of the stock is owned by institutional investors.

Insider Activity

In other Trustmark news, Director Marcelo L. Eduardo sold 790 shares of the firm’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 value of $28,353.10. Following the transaction, the director now directly owns 7,334 shares of the company’s stock, valued at approximately $263,217.26. This trade represents a 9.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gerard R. Host sold 7,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $38.59, for a total value of $270,130.00. Following the completion of the transaction, the director now owns 16,500 shares in the company, valued at $636,735. This represents a 29.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,206 shares of company stock valued at $1,347,991. Company insiders own 1.50% of the company’s stock.

Trustmark Stock Down 0.3 %

Shares of NASDAQ TRMK opened at $38.98 on Tuesday. Trustmark Co. has a 12-month low of $23.87 and a 12-month high of $40.73. The firm’s 50-day simple moving average is $35.40 and its 200 day simple moving average is $32.62. 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 cap of $2.38 billion, a price-to-earnings ratio of 11.78 and a beta of 0.72.

Trustmark (NASDAQ:TRMK) last announced 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 company 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 period in the previous year, the firm posted $0.64 earnings per share. On average, research analysts expect that Trustmark Co. will post 2.94 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.92 dividend on an annualized basis and a yield of 2.36%. Trustmark’s payout ratio is 27.79%.

Wall Street Analyst Weigh In

TRMK has been the topic of a number of analyst reports. DA Davidson upped their price target on Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a research 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. Hovde Group lifted their price target 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. Finally, Truist Financial boosted their price target on shares of Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a research report on Friday, October 25th. 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.com, Trustmark has a consensus rating of “Hold” and an average 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.