Oppenheimer Asset Management Inc. Reduces Stock Holdings in Trustmark Corporation $TRMK

Oppenheimer Asset Management Inc. cut its stake in Trustmark Corporation (NASDAQ:TRMK) by 13.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,936 shares of the financial services provider’s stock after selling 7,342 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Trustmark were worth $1,675,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of TRMK. GAMMA Investing LLC increased its position in Trustmark by 41.0% during the first quarter. GAMMA Investing LLC now owns 1,809 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 526 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Trustmark by 4.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 27,315 shares of the financial services provider’s stock worth $942,000 after purchasing an additional 1,080 shares during the period. Barlow Wealth Partners Inc. bought a new position in Trustmark during the 1st quarter valued at about $896,000. CWM LLC raised its position in Trustmark by 9.7% in the 1st quarter. CWM LLC now owns 5,655 shares of the financial services provider’s stock worth $195,000 after purchasing an additional 502 shares during the period. Finally, Edgestream Partners L.P. lifted its stake in Trustmark by 172.9% in the first quarter. Edgestream Partners L.P. now owns 204,665 shares of the financial services provider’s stock worth $7,059,000 after purchasing an additional 129,679 shares during the last quarter. 67.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Zacks Research cut Trustmark from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. DA Davidson upped their price objective on Trustmark from $39.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Hovde Group lifted their target price on Trustmark from $37.00 to $41.00 and gave the stock a “market perform” rating in a research report on Thursday, July 24th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Trustmark in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $42.25.

Trustmark Stock Performance

TRMK stock opened at $37.24 on Friday. Trustmark Corporation has a 1-year low of $29.77 and a 1-year high of $41.33. The business has a 50-day moving average price of $39.51 and a 200 day moving average price of $37.20. The company has a market capitalization of $2.25 billion, a P/E ratio of 10.17 and a beta of 0.67. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.86.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, October 28th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.01). Trustmark had a return on equity of 10.90% and a net margin of 19.82%.The business had revenue of $207.53 million for the quarter, compared to the consensus estimate of $206.13 million. During the same quarter in the previous year, the company earned $0.84 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. As a group, equities research analysts forecast that Trustmark Corporation will post 3.42 EPS for the current fiscal year.

Trustmark Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, December 1st. Trustmark’s dividend payout ratio (DPR) is presently 26.23%.

Insider Buying and Selling

In other news, Director Marcelo L. Eduardo sold 700 shares of Trustmark stock in a transaction on Monday, August 18th. The stock was sold at an average price of $38.49, for a total value of $26,943.00. Following the transaction, the director directly owned 8,577 shares in the company, valued at approximately $330,128.73. This trade represents a 7.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gerard R. Host sold 20,970 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $38.49, for a total value of $807,135.30. Following the sale, the director owned 158,360 shares of the company’s stock, valued at $6,095,276.40. This trade represents a 11.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 23,226 shares of company stock valued at $897,299 in the last three months. 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.