Trustmark Co. (NASDAQ:TRMK) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in shares of Trustmark Co. (NASDAQ:TRMK - Free Report) by 6.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 598,969 shares of the financial services provider's stock after purchasing an additional 37,989 shares during the quarter. Principal Financial Group Inc. owned 0.98% of Trustmark worth $19,059,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TRMK. GAMMA Investing LLC raised its holdings in shares of Trustmark by 62.1% in the second quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider's stock worth $28,000 after acquiring an additional 351 shares during the last quarter. EntryPoint Capital LLC acquired a new position in Trustmark in the first quarter valued at $52,000. Innealta Capital LLC acquired a new position in Trustmark in the second quarter valued at $61,000. nVerses Capital LLC acquired a new position in Trustmark in the third quarter valued at $67,000. Finally, CWM LLC increased its stake in Trustmark by 14.6% in the second quarter. CWM LLC now owns 4,783 shares of the financial services provider's stock valued at $144,000 after purchasing an additional 611 shares during the last quarter. 67.64% of the stock is owned by institutional investors and hedge funds.

Trustmark Stock Down 0.2 %

Shares of NASDAQ:TRMK traded down $0.09 during trading on Friday, hitting $38.15. The company's stock had a trading volume of 327,978 shares, compared to its average volume of 280,594. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. Trustmark Co. has a fifty-two week low of $22.11 and a fifty-two week high of $40.60. The stock's 50-day moving average price is $33.93 and its two-hundred day moving average price is $31.95. The company has a market capitalization of $2.33 billion, a PE ratio of 11.53 and a beta of 0.72.

Trustmark (NASDAQ:TRMK - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.82 by $0.02. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. The business had revenue of $192.30 million for the quarter, compared to analysts' expectations of $192.77 million. During the same quarter in the previous year, the firm posted $0.64 earnings per share. As a group, sell-side analysts expect that Trustmark Co. will post 2.93 EPS for the current year.

Trustmark Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.41%. The ex-dividend date is Friday, November 29th. Trustmark's payout ratio is currently 27.79%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Trustmark

In other news, Director Gerard R. Host sold 26,416 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $39.73, for a total transaction of $1,049,507.68. Following the sale, the director now directly owns 26,792 shares in the company, valued at approximately $1,064,446.16. This represents a 49.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, the director now owns 7,334 shares in the company, valued at $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. 1.50% of the stock is currently owned by insiders.

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.