Victory Capital Management Inc. Sells 4,924 Shares of Trustmark Co. (NASDAQ:TRMK)

Victory Capital Management Inc. cut its stake in Trustmark Co. (NASDAQ:TRMK) by 17.8% in the third quarter, HoldingsChannel.com reports. The fund owned 22,794 shares of the financial services provider’s stock after selling 4,924 shares during the period. Victory Capital Management Inc.’s holdings in Trustmark were worth $725,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in Trustmark by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,050,787 shares of the financial services provider’s stock worth $121,683,000 after purchasing an additional 64,334 shares during the last quarter. Earnest Partners LLC boosted its stake in shares of Trustmark by 3.1% in 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 last quarter. American Century Companies Inc. grew its holdings in shares of Trustmark by 25.3% in the second quarter. American Century Companies Inc. now owns 986,322 shares of the financial services provider’s stock worth $29,629,000 after acquiring an additional 199,245 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Trustmark by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 685,875 shares of the financial services provider’s stock worth $20,604,000 after acquiring an additional 2,714 shares during the period. Finally, Principal Financial Group Inc. increased its position in Trustmark by 6.8% during the third quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider’s stock valued at $19,059,000 after acquiring an additional 37,989 shares during the last quarter. 67.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Trustmark

In other news, Director Marcelo L. Eduardo sold 790 shares of Trustmark stock in a transaction that occurred 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 sale, the director now owns 7,334 shares of the company’s stock, valued at approximately $263,217.26. The trade was a 9.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gerard R. Host sold 7,000 shares of the stock in a transaction that occurred 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 directly owns 16,500 shares in the company, valued at approximately $636,735. This trade represents a 29.79 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,206 shares of company stock worth $1,347,991. Insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

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

Trustmark Trading Down 0.3 %

TRMK stock opened at $39.68 on Friday. Trustmark Co. has a twelve month low of $22.11 and a twelve month high of $40.73. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 11.99 and a beta of 0.72. 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 firm’s fifty day simple moving average is $35.02 and its two-hundred day simple moving average is $32.42.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.02. The firm had revenue of $192.30 million during 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 period last year, the company earned $0.64 EPS. As a group, analysts anticipate that Trustmark Co. will post 2.94 earnings per share for the current year.

Trustmark Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, November 29th. Trustmark’s dividend payout ratio is currently 27.79%.

Trustmark 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.