Trustmark Corporation $TRMK Shares Sold by Comerica Bank

Comerica Bank cut its holdings in shares of Trustmark Corporation (NASDAQ:TRMK) by 2.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,729 shares of the financial services provider’s stock after selling 706 shares during the period. Comerica Bank’s holdings in Trustmark were worth $991,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. AlphaQuest LLC boosted its position in shares of Trustmark by 12.0% during the first quarter. AlphaQuest LLC now owns 11,375 shares of the financial services provider’s stock worth $392,000 after buying an additional 1,218 shares during the period. Quantbot Technologies LP acquired a new position in shares of Trustmark during the first quarter worth approximately $276,000. Wellington Management Group LLP boosted its position in shares of Trustmark by 34.2% during the first quarter. Wellington Management Group LLP now owns 3,318,799 shares of the financial services provider’s stock worth $114,465,000 after buying an additional 846,238 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Trustmark by 10.0% during the first quarter. Russell Investments Group Ltd. now owns 9,450 shares of the financial services provider’s stock worth $326,000 after buying an additional 858 shares during the period. Finally, Public Sector Pension Investment Board boosted its position in shares of Trustmark by 27.0% during the first quarter. Public Sector Pension Investment Board now owns 193,437 shares of the financial services provider’s stock worth $6,672,000 after buying an additional 41,087 shares during the period. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TRMK shares. DA Davidson boosted their price objective on Trustmark from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Hovde Group boosted their target price on Trustmark from $37.00 to $41.00 and gave the stock a “market perform” rating in a report on Thursday, July 24th. Finally, Wall Street Zen cut Trustmark from a “buy” rating to a “hold” rating in a report on Saturday, June 7th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Trustmark currently has a consensus rating of “Hold” and an average target price of $41.00.

Insiders Place Their Bets

In other news, Director Marcelo L. Eduardo sold 700 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $38.49, for a total transaction of $26,943.00. Following the completion of the sale, the director owned 8,577 shares in the company, valued at approximately $330,128.73. This represents a 7.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gerard R. Host sold 1,556 shares of the stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $40.63, for a total value of $63,220.28. The disclosure for this sale can be found here. Insiders have sold a total of 23,226 shares of company stock valued at $897,299 in the last quarter. Insiders own 1.50% of the company’s stock.

Trustmark Price Performance

Shares of NASDAQ:TRMK opened at $40.25 on Friday. Trustmark Corporation has a one year low of $29.77 and a one year high of $41.34. The stock has a fifty day moving average of $38.54 and a 200-day moving average of $35.82. The company has a market capitalization of $2.43 billion, a PE ratio of 11.31 and a beta of 0.71. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.88.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.06. Trustmark had a return on equity of 10.81% and a net margin of 19.21%.The company had revenue of $203.44 million during the quarter, compared to the consensus estimate of $200.35 million. During the same quarter in the prior year, the firm earned $0.66 EPS. As a group, equities analysts anticipate that Trustmark Corporation will post 3.42 EPS for the current fiscal year.

Trustmark Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, August 29th. Trustmark’s dividend payout ratio is 26.97%.

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.