Trustmark Corporation $TRMK Shares Sold by Clark Capital Management Group Inc.

Key Points

• Clark Capital Management Group Inc. sold 39,602 shares of Trustmark Corporation, reducing its stake by 19.4%, retaining 164,921 shares valued at approximately $5.7 million as of the latest quarter.
• Trustmark has seen varied analyst ratings, with Wall Street Zen downgrading it to "hold" while other firms have set new price targets, ranging from $41.00 to $43.00, indicating a generally cautious outlook.
• The company announced a quarterly dividend of $0.24 per share, which will be paid on September 15th, reflecting an annual yield of 2.4%.

Clark Capital Management Group Inc. decreased its position in shares of Trustmark Corporation (NASDAQ:TRMK - Free Report) by 19.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 164,921 shares of the financial services provider's stock after selling 39,602 shares during the quarter. Clark Capital Management Group Inc. owned approximately 0.27% of Trustmark worth $5,688,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in Trustmark by 8.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 52,528 shares of the financial services provider's stock valued at $1,858,000 after purchasing an additional 4,016 shares during the period. Northern Trust Corp lifted its holdings in Trustmark by 5.0% during the fourth quarter. Northern Trust Corp now owns 808,844 shares of the financial services provider's stock worth $28,609,000 after buying an additional 38,594 shares during the period. Schonfeld Strategic Advisors LLC increased its holdings in shares of Trustmark by 7.6% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 11,930 shares of the financial services provider's stock valued at $422,000 after acquiring an additional 847 shares during the period. Captrust Financial Advisors lifted its stake in shares of Trustmark by 14.0% during the 4th quarter. Captrust Financial Advisors now owns 7,722 shares of the financial services provider's stock worth $273,000 after purchasing an additional 949 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Trustmark by 486.2% during the 4th quarter. Cubist Systematic Strategies LLC now owns 96,448 shares of the financial services provider's stock worth $3,411,000 after purchasing an additional 79,996 shares during the last quarter. 67.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on TRMK. Wall Street Zen downgraded shares of Trustmark from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Hovde Group increased their target price on shares of Trustmark from $37.00 to $41.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. Finally, DA Davidson raised their target price on shares of Trustmark from $39.00 to $43.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Trustmark currently has an average rating of "Hold" and an average target price of $41.00.

Insider Buying and Selling at Trustmark

In other news, Director Marcelo L. Eduardo sold 700 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $38.49, for a total value of $26,943.00. Following the completion of the transaction, the director owned 8,577 shares of the company's stock, valued at $330,128.73. The trade was a 7.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gerard R. Host sold 1,556 shares of the firm's stock in a transaction dated Tuesday, August 26th. The stock was 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. Over the last ninety days, insiders sold 23,226 shares of company stock worth $897,299. 1.50% of the stock is owned by corporate insiders.

Trustmark Stock Performance

Shares of TRMK stock traded down $0.46 during mid-day trading on Tuesday, reaching $39.97. The stock had a trading volume of 198,255 shares, compared to its average volume of 311,367. Trustmark Corporation has a 1-year low of $29.77 and a 1-year high of $41.33. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 11.23 and a beta of 0.71. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The business's fifty day moving average is $38.62 and its 200-day moving average is $35.83.

Trustmark (NASDAQ:TRMK - Get Free Report) last issued its earnings results 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 firm had revenue of $203.44 million for the quarter, compared to analyst estimates of $200.35 million. During the same quarter in the prior year, the firm earned $0.66 earnings per share. On average, research analysts forecast that Trustmark Corporation will post 3.42 earnings per share for the current year.

Trustmark Dividend Announcement

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