Trustmark Co. (NASDAQ:TRMK) Shares Bought by State Street Corp

State Street Corp lifted its holdings in shares of Trustmark Co. (NASDAQ:TRMK - Free Report) by 0.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,090,988 shares of the financial services provider's stock after purchasing an additional 24,450 shares during the quarter. State Street Corp owned about 5.05% of Trustmark worth $98,355,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Point72 DIFC Ltd purchased a new position in shares of Trustmark in the 3rd quarter worth about $170,000. HighTower Advisors LLC increased its position in Trustmark by 117.4% during the 3rd quarter. HighTower Advisors LLC now owns 14,991 shares of the financial services provider's stock worth $479,000 after purchasing an additional 8,097 shares in the last quarter. Centiva Capital LP purchased a new position in Trustmark in the third quarter valued at approximately $221,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Trustmark during the third quarter valued at approximately $130,000. Finally, Verition Fund Management LLC grew its stake in Trustmark by 19.8% during the third quarter. Verition Fund Management LLC now owns 778,312 shares of the financial services provider's stock worth $24,766,000 after buying an additional 128,834 shares during the period. Hedge funds and other institutional investors own 67.64% of the company's stock.

Trustmark Stock Performance

NASDAQ TRMK traded up $0.53 during trading hours on Monday, reaching $38.07. The company's stock had a trading volume of 213,194 shares, compared to its average volume of 280,318. The stock has a market cap of $2.33 billion, a PE ratio of 11.50 and a beta of 0.75. The business has a 50-day simple moving average of $36.72 and a 200 day simple moving average of $33.21. Trustmark Co. has a 52 week low of $25.24 and a 52 week high of $40.73. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09.

Trustmark (NASDAQ:TRMK - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.02. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. The firm had revenue of $192.30 million during the quarter, compared to the consensus estimate of $192.77 million. During the same period in the prior year, the business earned $0.64 EPS. Equities research analysts predict that Trustmark Co. will post 2.94 earnings per share 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 paid a $0.23 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.92 annualized dividend and a dividend yield of 2.42%. Trustmark's payout ratio is currently 27.79%.

Wall Street Analyst Weigh In

TRMK has been the topic of several recent research reports. StockNews.com upgraded shares of Trustmark from a "sell" rating to a "hold" rating in a report on Thursday, October 24th. Hovde Group upped 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 raised their target price on Trustmark from $35.00 to $36.00 and gave the company a "hold" rating in a report on Friday, October 25th. Finally, DA Davidson upped their price target on Trustmark from $35.00 to $38.00 and gave the stock a "neutral" rating in a report on Thursday, October 24th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $35.20.

Insider Activity

In other Trustmark news, Director Marcelo L. Eduardo sold 790 shares of the firm's stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total transaction of $28,353.10. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gerard R. Host sold 26,416 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $39.73, for a total transaction of $1,049,507.68. Following the completion of the transaction, the director now 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,206 shares of company stock valued at $1,347,991. Insiders own 1.50% of the company's stock.

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.