PDT Partners LLC Has $207,000 Stock Holdings in Trustmark Co. (NASDAQ:TRMK)

PDT Partners LLC trimmed its holdings in shares of Trustmark Co. (NASDAQ:TRMK) by 53.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,518 shares of the financial services provider’s stock after selling 7,361 shares during the quarter. PDT Partners LLC’s holdings in Trustmark were worth $207,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TRMK. American Century Companies Inc. increased its position in Trustmark by 25.3% during the second quarter. American Century Companies Inc. now owns 986,322 shares of the financial services provider’s stock worth $29,629,000 after buying an additional 199,245 shares during the last quarter. Hanson & Doremus Investment Management acquired a new position in Trustmark during the second quarter worth $4,199,000. Verition Fund Management LLC increased its position in Trustmark by 19.8% during the third quarter. Verition Fund Management LLC now owns 778,312 shares of the financial services provider’s stock worth $24,766,000 after buying an additional 128,834 shares during the last quarter. Earnest Partners LLC increased its position in Trustmark by 3.1% during the second 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. Finally, Dimensional Fund Advisors LP increased its position in Trustmark by 1.6% during 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 buying an additional 64,334 shares during the last quarter. 67.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TRMK has been the topic of several analyst reports. Hovde Group increased their target price on shares of Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Truist Financial upped their price target on shares of Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a report on Friday, October 25th. StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, DA Davidson upped their price target on shares of Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $35.20.

Trustmark Stock Up 1.4 %

NASDAQ TRMK opened at $38.83 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a 50-day simple moving average of $35.68 and a 200 day simple moving average of $32.72. Trustmark Co. has a twelve month low of $24.74 and a twelve month high of $40.73. The stock has a market cap of $2.37 billion, a PE ratio of 11.73 and a beta of 0.75.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.02. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. The business had revenue of $192.30 million during the quarter, compared to analysts’ expectations of $192.77 million. During the same quarter last year, the company earned $0.64 earnings per share. On average, research analysts forecast that Trustmark Co. will post 2.94 EPS for the current year.

Trustmark Announces Dividend

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 paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, November 29th. Trustmark’s payout ratio is presently 27.79%.

Insider Activity at Trustmark

In other Trustmark news, Director Marcelo L. Eduardo sold 790 shares of the firm’s stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gerard R. Host sold 7,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $38.59, for a total transaction of $270,130.00. Following the transaction, the director now owns 16,500 shares of the company’s stock, valued at approximately $636,735. This represents a 29.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,206 shares of company stock worth $1,347,991. Company insiders own 1.50% of the company’s stock.

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.