Cwm LLC Decreases Stock Position in Trustmark Co. (NASDAQ:TRMK)

Cwm LLC cut its position in Trustmark Co. (NASDAQ:TRMK) by 9.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,193 shares of the financial services provider’s stock after selling 436 shares during the quarter. Cwm LLC’s holdings in Trustmark were worth $117,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in Trustmark by 13.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 831,103 shares of the financial services provider’s stock valued at $18,060,000 after acquiring an additional 100,091 shares during the last quarter. American Century Companies Inc. boosted its stake in Trustmark by 28.8% during the 3rd quarter. American Century Companies Inc. now owns 372,172 shares of the financial services provider’s stock valued at $8,087,000 after acquiring an additional 83,181 shares during the last quarter. Federated Hermes Inc. boosted its stake in Trustmark by 2,226.6% during the 4th quarter. Federated Hermes Inc. now owns 329,081 shares of the financial services provider’s stock valued at $9,175,000 after acquiring an additional 314,937 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Trustmark by 244.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 176,036 shares of the financial services provider’s stock valued at $3,825,000 after acquiring an additional 124,890 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Trustmark by 582.9% during the 3rd quarter. Victory Capital Management Inc. now owns 158,395 shares of the financial services provider’s stock valued at $3,442,000 after acquiring an additional 135,202 shares during the last quarter. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TRMK shares. DA Davidson increased their target price on shares of Trustmark from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Truist Financial increased their target price on shares of Trustmark from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Friday, April 26th. Piper Sandler reissued a “neutral” rating and set a $29.00 target price on shares of Trustmark in a report on Tuesday, March 26th. StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. Finally, Keefe, Bruyette & Woods raised shares of Trustmark from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $30.00 to $36.00 in a report on Thursday, April 25th. Four 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 presently has a consensus rating of “Hold” and a consensus price target of $32.75.

Trustmark Stock Down 0.5 %

TRMK stock opened at $30.71 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. Trustmark Co. has a fifty-two week low of $18.96 and a fifty-two week high of $31.23. The firm’s 50-day simple moving average is $27.30 and its 200 day simple moving average is $25.98. The stock has a market cap of $1.88 billion, a PE ratio of 11.95 and a beta of 0.78.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.08. Trustmark had a net margin of 13.82% and a return on equity of 10.04%. The business had revenue of $288.55 million for the quarter, compared to analysts’ expectations of $187.03 million. During the same quarter last year, the company earned $0.82 EPS. As a group, sell-side analysts predict that Trustmark Co. will post 2.77 EPS for the current year.

Trustmark Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Investors of record on Saturday, June 1st will be given a $0.23 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.92 dividend on an annualized basis and a yield of 3.00%. Trustmark’s dividend payout ratio is presently 35.80%.

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.