World Investment Advisors LLC Acquires Shares of 15,687 Trustmark Co. (NASDAQ:TRMK)

World Investment Advisors LLC purchased a new position in shares of Trustmark Co. (NASDAQ:TRMK - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 15,687 shares of the financial services provider's stock, valued at approximately $499,000.

Other hedge funds also recently modified their holdings of the company. Magnolia Capital Advisors LLC bought a new stake in shares of Trustmark during the 2nd quarter worth $1,081,000. State Street Corp boosted its holdings in shares of Trustmark by 0.8% during the 3rd quarter. State Street Corp now owns 3,090,988 shares of the financial services provider's stock worth $98,355,000 after buying an additional 24,450 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Trustmark by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,050,787 shares of the financial services provider's stock worth $121,683,000 after buying an additional 64,334 shares during the period. Verition Fund Management LLC boosted its holdings in shares of Trustmark by 19.8% during the 3rd 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. Finally, Renaissance Technologies LLC bought a new stake in shares of Trustmark during the 2nd quarter worth $1,372,000. Institutional investors and hedge funds own 67.64% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on TRMK. StockNews.com raised shares of Trustmark from a "sell" rating to a "hold" rating in a report on Thursday, October 24th. Truist Financial increased their price target on shares of Trustmark from $35.00 to $36.00 and gave the company a "hold" rating in a report on Friday, October 25th. Hovde Group increased their price target on shares of Trustmark from $34.00 to $37.00 and gave the company a "market perform" rating in a report on Tuesday, October 29th. Finally, DA Davidson increased their price target on shares of Trustmark from $35.00 to $38.00 and gave the company a "neutral" rating in a 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 company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $35.20.

Trustmark Stock Performance

Trustmark stock traded down $2.04 during mid-day trading on Wednesday, reaching $34.98. The company had a trading volume of 488,843 shares, compared to its average volume of 280,961. The company has a 50 day moving average of $36.83 and a 200-day moving average of $33.26. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 10.57 and a beta of 0.75. Trustmark Co. has a 52 week low of $25.24 and a 52 week high of $40.73. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09.

Trustmark (NASDAQ:TRMK - Get Free Report) last released 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. The company had revenue of $192.30 million during the quarter, compared to the consensus estimate of $192.77 million. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. During the same period last year, the firm earned $0.64 EPS. On average, sell-side analysts expect that Trustmark Co. will post 2.94 EPS for the current fiscal year.

Trustmark Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend was Friday, November 29th. Trustmark's payout ratio is 27.79%.

Insider Transactions at Trustmark

In related news, Director Marcelo L. Eduardo sold 790 shares of the 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 completion of the sale, the director now owns 7,334 shares in the company, valued at $263,217.26. This trade represents a 9.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gerard R. Host sold 26,416 shares of the stock in a transaction dated 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 owns 26,792 shares of the company's stock, valued at $1,064,446.16. This trade represents a 49.65 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 34,206 shares of company stock valued at $1,347,991. Company insiders own 1.50% of the company's stock.

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.