American Century Companies Inc. Purchases 199,245 Shares of Trustmark Co. (NASDAQ:TRMK)

American Century Companies Inc. lifted its holdings in Trustmark Co. (NASDAQ:TRMK - Free Report) by 25.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 986,322 shares of the financial services provider's stock after buying an additional 199,245 shares during the period. American Century Companies Inc. owned approximately 1.61% of Trustmark worth $29,629,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Trustmark by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 6,712,905 shares of the financial services provider's stock worth $187,156,000 after buying an additional 50,795 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Trustmark by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,830,150 shares of the financial services provider's stock worth $106,786,000 after purchasing an additional 59,068 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Trustmark by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 883,423 shares of the financial services provider's stock worth $24,630,000 after purchasing an additional 52,320 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Trustmark by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 685,875 shares of the financial services provider's stock worth $20,604,000 after purchasing an additional 2,714 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in Trustmark by 5.9% in the first quarter. Principal Financial Group Inc. now owns 576,057 shares of the financial services provider's stock valued at $16,193,000 after purchasing an additional 31,951 shares during the last quarter. Hedge funds and other institutional investors own 67.64% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on TRMK. Truist Financial lifted their price objective on Trustmark from $31.00 to $37.00 and gave the stock a "hold" rating in a report on Thursday, July 25th. DA Davidson boosted their price target on shares of Trustmark from $34.00 to $38.00 and gave the company a "neutral" rating in a research report on Thursday, July 25th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Trustmark presently has a consensus rating of "Hold" and an average price target of $35.00.

Trustmark Price Performance

Shares of TRMK traded up $0.85 during midday trading on Thursday, hitting $33.60. 209,373 shares of the company traded hands, compared to its average volume of 276,710. The stock has a 50-day moving average of $32.60 and a 200-day moving average of $29.86. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.87 and a quick ratio of 0.86. Trustmark Co. has a one year low of $18.96 and a one year high of $35.72. The firm has a market cap of $2.06 billion, a P/E ratio of 13.07 and a beta of 0.74.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its earnings results on Tuesday, July 23rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.03. The business had revenue of $283.96 million for the quarter, compared to analysts' expectations of $229.83 million. Trustmark had a net margin of 16.24% and a return on equity of 9.32%. During the same period in the prior year, the company posted $0.74 EPS. As a group, sell-side analysts predict that Trustmark Co. will post 2.93 EPS for the current fiscal year.

Trustmark Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend was Friday, August 30th. Trustmark's payout ratio is 35.80%.

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.