Oppenheimer Asset Management Inc. Sells 952 Shares of Trustmark Co. (NASDAQ:TRMK)

Oppenheimer Asset Management Inc. decreased its position in shares of Trustmark Co. (NASDAQ:TRMK) by 1.7% during the third quarter, Holdings Channel.com reports. The fund owned 53,746 shares of the financial services provider’s stock after selling 952 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Trustmark were worth $1,710,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in TRMK. American Century Companies Inc. raised its position in shares of 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 period. Stieven Capital Advisors L.P. raised its holdings in Trustmark by 57.2% during the first quarter. Stieven Capital Advisors L.P. now owns 503,000 shares of the financial services provider’s stock valued at $14,139,000 after acquiring an additional 183,100 shares during the period. Hanson & Doremus Investment Management purchased a new position in shares of Trustmark in the second quarter valued at about $4,199,000. Earnest Partners LLC boosted its stake in shares of 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 purchased a new stake in shares of Trustmark during the first quarter worth about $2,604,000. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Trustmark Trading Down 0.2 %

Shares of TRMK opened at $38.15 on Monday. The stock has a market capitalization of $2.33 billion, a PE ratio of 11.53 and a beta of 0.72. The company’s fifty day moving average is $33.93 and its 200 day moving average is $31.98. 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 Co. has a fifty-two week low of $22.11 and a fifty-two week high of $40.60.

Trustmark (NASDAQ:TRMK) last posted 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. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. The firm had revenue of $192.30 million for the quarter, compared to the consensus estimate of $192.77 million. During the same period in the previous year, the firm posted $0.64 EPS. Sell-side analysts expect that Trustmark Co. will post 2.93 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Friday, November 29th. Trustmark’s payout ratio is 27.79%.

Insider Transactions at Trustmark

In other Trustmark news, Director Marcelo L. Eduardo sold 790 shares of Trustmark stock in a transaction 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gerard R. Host sold 26,416 shares of the 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 completion of the sale, the director now directly owns 26,792 shares in the company, valued at approximately $1,064,446.16. This represents a 49.65 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. DA Davidson upped 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. Hovde Group raised their target price 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. Finally, Truist Financial boosted their price target 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. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Trustmark has a consensus rating of “Hold” and an average target price of $35.20.

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.