Geode Capital Management LLC Boosts Stake in Trustmark Co. (NASDAQ:TRMK)

Geode Capital Management LLC increased its stake in Trustmark Co. (NASDAQ:TRMK - Free Report) by 1.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,461,545 shares of the financial services provider's stock after purchasing an additional 15,627 shares during the quarter. Geode Capital Management LLC owned about 2.39% of Trustmark worth $46,515,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In related news, Director Gerard R. Host sold 26,416 shares of the firm's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $39.73, for a total value of $1,049,507.68. Following the sale, the director now directly owns 26,792 shares of the company's stock, valued at $1,064,446.16. This trade represents a 49.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 sale, the director now owns 7,334 shares of the company's stock, valued at approximately $263,217.26. This trade represents a 9.72 % decrease in their position. 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 quarter. Insiders own 1.50% of the company's stock.

Trustmark Trading Up 0.9 %

NASDAQ:TRMK traded up $0.32 during trading hours on Tuesday, reaching $36.12. The company's stock had a trading volume of 93,248 shares, compared to its average volume of 282,775. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 10.91 and a beta of 0.75. The firm has a 50-day simple moving average of $37.04 and a 200-day simple moving average of $33.46. Trustmark Co. has a 1 year low of $25.24 and a 1 year high of $40.73.

Trustmark (NASDAQ:TRMK - Get Free Report) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.02. The company 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 quarter in the previous year, the company posted $0.64 EPS. Research analysts expect that Trustmark Co. will post 2.94 EPS for the current fiscal year.

Trustmark Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were given a dividend of $0.23 per share. The ex-dividend date was Friday, November 29th. This represents a $0.92 annualized dividend and a yield of 2.55%. Trustmark's payout ratio is currently 27.79%.

Wall Street Analyst Weigh In

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

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.