Y Intercept Hong Kong Ltd Makes New Investment in Trustmark Co. (NASDAQ:TRMK)

Y Intercept Hong Kong Ltd purchased a new stake in shares of Trustmark Co. (NASDAQ:TRMK) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 6,667 shares of the financial services provider’s stock, valued at approximately $212,000.

A number of other large investors have also recently made changes to their positions in TRMK. Innealta Capital LLC purchased a new stake in Trustmark in the second quarter worth approximately $61,000. GoalVest Advisory LLC bought a new stake in shares of Trustmark in the third quarter worth $63,000. nVerses Capital LLC purchased a new stake in Trustmark during the third quarter valued at $67,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Trustmark during the 3rd quarter valued at about $130,000. Finally, Blue Trust Inc. increased its position in shares of Trustmark by 225.2% during the 3rd quarter. Blue Trust Inc. now owns 4,953 shares of the financial services provider’s stock valued at $149,000 after purchasing an additional 3,430 shares during the last quarter. 67.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Trustmark

In other news, Director Marcelo L. Eduardo sold 790 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $35.89, for a total transaction of $28,353.10. Following the completion of the transaction, the director now owns 7,334 shares in the company, valued at $263,217.26. This trade represents a 9.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gerard R. Host sold 7,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $38.59, for a total value of $270,130.00. Following the completion of the sale, the director now owns 16,500 shares in the company, valued at $636,735. This represents a 29.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,206 shares of company stock valued at $1,347,991 in the last three months. 1.50% of the stock is currently owned by corporate insiders.

Trustmark Stock Down 5.5 %

Shares of TRMK stock opened at $34.98 on Thursday. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 10.57 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. The company’s fifty day moving average price is $36.83 and its 200-day moving average price is $33.26. Trustmark Co. has a one year low of $25.24 and a one year high of $40.73.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. The business had revenue of $192.30 million for the quarter, compared to analysts’ expectations 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 firm earned $0.64 earnings per share. Sell-side analysts expect that Trustmark Co. will post 2.94 EPS for the current fiscal year.

Trustmark Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were paid a $0.23 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.92 annualized dividend and a yield of 2.63%. Trustmark’s payout ratio is 27.79%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Hovde Group boosted their price objective on shares of Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. DA Davidson upped their price objective on Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Finally, Truist Financial lifted their target price on Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a research 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 stock. According to MarketBeat, the stock 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.