HighTower Advisors LLC increased its holdings in Trustmark Co. (NASDAQ:TRMK – Free Report) by 117.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,991 shares of the financial services provider’s stock after purchasing an additional 8,097 shares during the quarter. HighTower Advisors LLC’s holdings in Trustmark were worth $479,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in TRMK. Innealta Capital LLC bought a new position in shares of Trustmark in the second quarter valued at $61,000. GoalVest Advisory LLC acquired a new position in shares of Trustmark in the 3rd quarter worth $63,000. nVerses Capital LLC acquired a new stake in shares of Trustmark during the third quarter worth $67,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Trustmark during the third quarter valued at $130,000. Finally, Blue Trust Inc. boosted its position in shares of 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 purchasing an additional 3,430 shares during the period. 67.64% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts recently commented on TRMK shares. Truist Financial upped their price target on shares of Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a research report on Friday, October 25th. DA Davidson lifted their price target on Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Hovde Group lifted their target price on Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $35.20.
Get Our Latest Stock Analysis on TRMK
Insiders Place Their Bets
In other news, 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 value of $270,130.00. Following the sale, the director now directly owns 16,500 shares in the company, valued at approximately $636,735. This represents a 29.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Marcelo L. Eduardo sold 790 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 7,334 shares of the company’s stock, valued at approximately $263,217.26. The trade was a 9.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,206 shares of company stock valued at $1,347,991 in the last three months. Company insiders own 1.50% of the company’s stock.
Trustmark Stock Performance
Shares of TRMK opened at $35.71 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 $25.24 and a 12 month high of $40.73. The company’s fifty day moving average is $36.99 and its 200-day moving average is $33.33. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 10.79 and a beta of 0.75.
Trustmark (NASDAQ:TRMK – Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.02. The company had revenue of $192.30 million during 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 quarter in the previous year, the firm earned $0.64 earnings per share. Equities analysts expect that Trustmark Co. will post 2.94 EPS for the current fiscal year.
Trustmark Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend was Friday, November 29th. Trustmark’s dividend payout ratio (DPR) is currently 27.79%.
Trustmark Company Profile
(Free Report)
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.
See Also
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