Trustmark Co. (NASDAQ:TRMK) Shares Sold by Empowered Funds LLC

Empowered Funds LLC lessened its stake in Trustmark Co. (NASDAQ:TRMK - Free Report) by 57.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,788 shares of the financial services provider's stock after selling 113,771 shares during the period. Empowered Funds LLC owned about 0.14% of Trustmark worth $2,928,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Barclays PLC boosted its position in Trustmark by 124.7% in the 3rd quarter. Barclays PLC now owns 125,743 shares of the financial services provider's stock worth $4,001,000 after purchasing an additional 69,779 shares in the last quarter. Principal Financial Group Inc. boosted its position in Trustmark by 6.8% in the 3rd quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider's stock worth $19,059,000 after purchasing an additional 37,989 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Trustmark by 10.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 122,956 shares of the financial services provider's stock worth $3,912,000 after purchasing an additional 11,934 shares in the last quarter. State Street Corp boosted its position in Trustmark by 0.8% in the 3rd quarter. State Street Corp now owns 3,090,988 shares of the financial services provider's stock worth $98,355,000 after purchasing an additional 24,450 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Trustmark by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,461,545 shares of the financial services provider's stock worth $46,515,000 after purchasing an additional 15,627 shares in the last quarter. Hedge funds and other institutional investors own 67.64% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TRMK. Keefe, Bruyette & Woods increased their target price on Trustmark from $45.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. StockNews.com upgraded Trustmark from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. Hovde Group increased their target price on Trustmark from $34.00 to $37.00 and gave the company a "market perform" rating in a research report on Tuesday, October 29th. Truist Financial increased 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. Finally, DA Davidson increased their target price on Trustmark from $40.00 to $41.00 and gave the company a "neutral" rating in a research report on Thursday, January 30th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $38.67.

Trustmark Price Performance

NASDAQ TRMK traded down $0.30 during mid-day trading on Monday, hitting $37.67. The stock had a trading volume of 145,871 shares, compared to its average volume of 303,011. The firm's 50 day moving average is $36.25 and its 200 day moving average is $34.94. Trustmark Co. has a twelve month low of $25.24 and a twelve month high of $40.73. 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 stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 10.35 and a beta of 0.76.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.83 by $0.09. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. Equities research analysts forecast that Trustmark Co. will post 3.4 earnings per share for the current fiscal year.

Trustmark Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Trustmark's previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.55%. Trustmark's dividend payout ratio (DPR) is 25.27%.

Trustmark Company 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.