Zurcher Kantonalbank Zurich Cantonalbank Has $413,000 Stock Holdings in Trustmark Co. (NASDAQ:TRMK)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Trustmark Co. (NASDAQ:TRMK) by 11.9% in the third quarter, HoldingsChannel reports. The firm owned 12,991 shares of the financial services provider’s stock after purchasing an additional 1,381 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Trustmark were worth $413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC lifted its stake in shares of Trustmark by 62.1% during the 2nd quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock worth $28,000 after buying an additional 351 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Trustmark by 2.4% during the third quarter. Harbor Capital Advisors Inc. now owns 17,356 shares of the financial services provider’s stock worth $552,000 after acquiring an additional 415 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Trustmark by 2.0% during the second quarter. Louisiana State Employees Retirement System now owns 30,800 shares of the financial services provider’s stock worth $925,000 after purchasing an additional 600 shares during the period. CWM LLC increased its stake in shares of Trustmark by 14.6% during the second quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock worth $144,000 after purchasing an additional 611 shares during the period. Finally, Barnes Pettey Financial Advisors LLC boosted its stake in Trustmark by 9.2% in the 2nd quarter. Barnes Pettey Financial Advisors LLC now owns 8,882 shares of the financial services provider’s stock valued at $267,000 after purchasing an additional 750 shares during the period. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on TRMK. DA Davidson increased their price objective on Trustmark from $35.00 to $38.00 and gave the stock a “neutral” 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 stock a “market perform” rating in a research report on Tuesday, October 29th. StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Truist Financial raised their target price on shares of Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $35.20.

Insider Transactions at Trustmark

In other news, Director Marcelo L. Eduardo sold 790 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total value of $28,353.10. Following the sale, the director now directly owns 7,334 shares in the company, valued at approximately $263,217.26. This trade represents a 9.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gerard R. Host sold 7,000 shares of the company’s stock in a transaction that occurred on 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,206 shares of company stock valued at $1,347,991. Corporate insiders own 1.50% of the company’s stock.

Trustmark Trading Up 0.7 %

Shares of Trustmark stock opened at $38.29 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. Trustmark Co. has a 12-month low of $24.88 and a 12-month high of $40.73. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of 11.57 and a beta of 0.75. The firm’s 50-day moving average price is $35.94 and its two-hundred day moving average price is $32.83.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $192.77 million. During the same quarter last year, the business posted $0.64 EPS. On average, analysts forecast that Trustmark Co. will post 2.94 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be paid a $0.23 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.92 annualized dividend and a dividend yield of 2.40%. Trustmark’s payout ratio is 27.79%.

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.