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

Oppenheimer Asset Management Inc. lowered its stake in Trustmark Co. (NASDAQ:TRMK) by 1.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,746 shares of the financial services provider’s stock after selling 952 shares during the period. Oppenheimer Asset Management Inc. owned 0.09% of Trustmark worth $1,710,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in TRMK. GAMMA Investing LLC boosted its stake in shares of Trustmark by 62.1% during the 2nd quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 351 shares in the last quarter. EntryPoint Capital LLC purchased a new position in Trustmark during the 1st quarter valued at about $52,000. Innealta Capital LLC bought a new stake in Trustmark during the second quarter worth about $61,000. nVerses Capital LLC purchased a new stake in Trustmark in the third quarter worth about $67,000. Finally, CWM LLC increased its stake in shares of Trustmark by 14.6% during the second quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 611 shares in the last quarter. Institutional investors own 67.64% of the company’s stock.

Trustmark Stock Performance

Shares of TRMK opened at $38.15 on Monday. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 11.53 and a beta of 0.72. The business’s fifty day simple moving average is $33.93 and its two-hundred day simple moving average is $31.98. Trustmark Co. has a 12 month low of $22.11 and a 12 month high of $40.60. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.84 EPS for the quarter, topping the consensus estimate 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 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. Research analysts anticipate that Trustmark Co. will post 2.93 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

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

Analyst Ratings Changes

Several analysts recently weighed in on the company. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. DA Davidson increased their target price on Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Truist Financial raised their price target on Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a report on Friday, October 25th. Finally, Hovde Group upped 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 given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $35.20.

Insiders Place Their Bets

In other Trustmark news, Director Gerard R. Host sold 26,416 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was 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 $1,064,446.16. The trade was a 49.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Marcelo L. Eduardo sold 790 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 7,334 shares in the company, valued at $263,217.26. This trade represents a 9.72 % decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

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.