State Street Corp Buys 24,450 Shares of Trustmark Co. (NASDAQ:TRMK)

State Street Corp raised its stake in shares of Trustmark Co. (NASDAQ:TRMK) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,090,988 shares of the financial services provider’s stock after purchasing an additional 24,450 shares during the period. State Street Corp owned 5.05% of Trustmark worth $98,355,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Point72 DIFC Ltd bought a new position in Trustmark during the third quarter valued at approximately $170,000. HighTower Advisors LLC raised its holdings in shares of Trustmark by 117.4% during the 3rd quarter. HighTower Advisors LLC now owns 14,991 shares of the financial services provider’s stock worth $479,000 after acquiring an additional 8,097 shares in the last quarter. Centiva Capital LP bought a new position in shares of Trustmark during the 3rd quarter valued at approximately $221,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Trustmark in the third quarter valued at $130,000. Finally, Verition Fund Management LLC grew its holdings in shares of Trustmark by 19.8% in the third quarter. Verition Fund Management LLC now owns 778,312 shares of the financial services provider’s stock valued at $24,766,000 after purchasing an additional 128,834 shares in the last quarter. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Trustmark Stock Down 0.3 %

Shares of NASDAQ TRMK opened at $37.54 on Monday. Trustmark Co. has a 1 year low of $25.24 and a 1 year high of $40.73. The firm has a 50-day simple moving average of $36.59 and a two-hundred day simple moving average of $33.15. The company has a market cap of $2.30 billion, a P/E ratio of 11.34 and a beta of 0.75. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (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 9.48% and a net margin of 17.62%. During the same period last year, the company earned $0.64 EPS. Research analysts anticipate that Trustmark Co. will post 2.94 earnings per share for the current year.

Trustmark Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Friday, November 29th. Trustmark’s payout ratio is presently 27.79%.

Insider Buying and Selling

In other Trustmark news, Director Marcelo L. Eduardo sold 790 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $35.89, for a total value of $28,353.10. Following the completion of the sale, the director now directly owns 7,334 shares in the company, valued at approximately $263,217.26. This represents a 9.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gerard R. Host sold 7,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $38.59, for a total value of $270,130.00. Following the transaction, the director now owns 16,500 shares in the company, valued at approximately $636,735. This represents a 29.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,206 shares of company stock valued at $1,347,991 in the last 90 days. Company insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on TRMK shares. DA Davidson increased their price objective on shares of Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Truist Financial lifted their price target on Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Hovde Group lifted their target price on Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Trustmark presently has a consensus rating of “Hold” and an average target price of $35.20.

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.