Sunburst Financial Group LLC Sells 1,563 Shares of Trustmark Co. (NASDAQ:TRMK)

Sunburst Financial Group LLC cut its stake in shares of Trustmark Co. (NASDAQ:TRMK) by 9.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,325 shares of the financial services provider’s stock after selling 1,563 shares during the period. Sunburst Financial Group LLC’s holdings in Trustmark were worth $542,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. GoalVest Advisory LLC acquired a new position in shares of Trustmark during the 3rd quarter worth approximately $63,000. nVerses Capital LLC bought a new stake in shares of Trustmark in the third quarter valued at approximately $67,000. KBC Group NV grew its position in Trustmark by 43.0% during the fourth quarter. KBC Group NV now owns 3,163 shares of the financial services provider’s stock worth $112,000 after buying an additional 951 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Trustmark during the 3rd quarter worth $130,000. Finally, Blue Trust Inc. raised its holdings in Trustmark by 225.2% in the 3rd quarter. Blue Trust Inc. now owns 4,953 shares of the financial services provider’s stock valued at $149,000 after acquiring an additional 3,430 shares in the last quarter. Institutional investors own 67.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TRMK shares. DA Davidson upped their price objective on shares of Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Janney Montgomery Scott started coverage on shares of Trustmark in a research report on Friday, January 24th. They set a “buy” rating and a $42.00 price target on the stock. StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Truist Financial upped their target price on Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods lifted their price target on Trustmark from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Trustmark has an average rating of “Hold” and an average price target of $38.67.

Trustmark Stock Up 1.0 %

TRMK stock opened at $37.97 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. Trustmark Co. has a fifty-two week low of $25.24 and a fifty-two week high of $40.73. The stock’s 50 day simple moving average is $36.27 and its 200 day simple moving average is $34.86. The company has a market cap of $2.32 billion, a P/E ratio of 10.43 and a beta of 0.76.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. On average, research analysts expect that Trustmark Co. will post 3.4 earnings per share for the current fiscal year.

Trustmark Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Friday, February 28th. This is a positive change from Trustmark’s previous quarterly dividend of $0.23. Trustmark’s dividend payout ratio is currently 26.37%.

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.