Sunburst Financial Group LLC Sells 3,356 Shares of Trustmark Co. (NASDAQ:TRMK)

Sunburst Financial Group LLC lessened its stake in Trustmark Co. (NASDAQ:TRMK) by 16.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,888 shares of the financial services provider’s stock after selling 3,356 shares during the period. Sunburst Financial Group LLC’s holdings in Trustmark were worth $537,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. American Century Companies Inc. increased its position in shares of 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 period. Stieven Capital Advisors L.P. lifted its stake in shares of Trustmark by 57.2% in the 1st quarter. Stieven Capital Advisors L.P. now owns 503,000 shares of the financial services provider’s stock valued at $14,139,000 after purchasing an additional 183,100 shares during the period. Hanson & Doremus Investment Management bought a new stake in shares of Trustmark during the 2nd quarter valued at about $4,199,000. Earnest Partners LLC boosted its position in shares of Trustmark by 3.1% during the 2nd quarter. Earnest Partners LLC now owns 3,442,019 shares of the financial services provider’s stock valued at $103,398,000 after purchasing an additional 102,268 shares in the last quarter. Finally, Kennedy Capital Management LLC acquired a new stake in Trustmark during the first quarter worth approximately $2,604,000. Institutional investors own 67.64% of the company’s stock.

Trustmark Stock Performance

Shares of TRMK stock traded up $0.57 during trading on Wednesday, reaching $35.65. 50,071 shares of the company’s stock traded hands, compared to its average volume of 272,178. Trustmark Co. has a 1 year low of $19.68 and a 1 year high of $36.14. The company has a market capitalization of $2.18 billion, a P/E ratio of 13.90 and a beta of 0.73. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. The firm’s 50-day moving average is $32.77 and its 200 day moving average is $31.13.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.02. The firm had revenue of $192.30 million during the quarter, compared to analyst estimates of $192.77 million. Trustmark had a return on equity of 9.80% and a net margin of 17.62%. During the same period last year, the company earned $0.64 earnings per share. Equities research analysts expect that Trustmark Co. will post 2.92 EPS for the current year.

Trustmark Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Friday, November 29th. Trustmark’s payout ratio is 35.80%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. DA Davidson raised their price objective on shares of Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Hovde Group raised their price target on shares of Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a research report on Tuesday. Finally, Truist Financial increased their price objective on Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $35.20.

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.