Maple Capital Management Inc. Sells 400 Shares of Trustmark Co. (NASDAQ:TRMK)

Maple Capital Management Inc. cut its holdings in shares of Trustmark Co. (NASDAQ:TRMK) by 2.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 14,028 shares of the financial services provider’s stock after selling 400 shares during the period. Maple Capital Management Inc.’s holdings in Trustmark were worth $446,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in Trustmark by 62.1% during the second quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 351 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in 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 acquiring an additional 600 shares in the last quarter. CWM LLC lifted its holdings in 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 acquiring an additional 611 shares in the last quarter. Texas Permanent School Fund Corp lifted its holdings in Trustmark by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 53,449 shares of the financial services provider’s stock worth $1,502,000 after acquiring an additional 716 shares in the last quarter. Finally, Barnes Pettey Financial Advisors LLC lifted its holdings in Trustmark by 9.2% during the second quarter. Barnes Pettey Financial Advisors LLC now owns 8,882 shares of the financial services provider’s stock worth $267,000 after acquiring an additional 750 shares in the last quarter. 67.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TRMK has been the topic of a number of research reports. Truist Financial cut their price target on Trustmark from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Friday, September 20th. StockNews.com lowered Trustmark from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. Finally, DA Davidson boosted their price target on Trustmark from $34.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, Trustmark currently has an average rating of “Hold” and a consensus target price of $34.50.

Trustmark Stock Performance

TRMK opened at $33.76 on Tuesday. Trustmark Co. has a 52-week low of $18.96 and a 52-week high of $35.72. The firm has a market capitalization of $2.07 billion, a PE ratio of 13.14 and a beta of 0.73. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 0.87. The business’s 50-day simple moving average is $32.42 and its 200 day simple moving average is $30.80.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.03. Trustmark had a return on equity of 9.32% and a net margin of 16.24%. The business had revenue of $283.96 million for the quarter, compared to analyst estimates of $229.83 million. During the same quarter in the prior year, the company posted $0.74 earnings per share. As a group, sell-side analysts expect that Trustmark Co. will post 2.92 earnings per share for the current fiscal year.

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.