Intech Investment Management LLC Takes Position in Trustmark Co. (NASDAQ:TRMK)

Intech Investment Management LLC bought a new stake in shares of Trustmark Co. (NASDAQ:TRMK) during the third quarter, HoldingsChannel.com reports. The fund bought 10,627 shares of the financial services provider’s stock, valued at approximately $338,000.

A number of other hedge funds have also recently modified their holdings of the business. GAMMA Investing LLC grew its stake in shares of Trustmark by 62.1% during the second quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock valued at $28,000 after buying an additional 351 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Trustmark by 2.4% in the third quarter. Harbor Capital Advisors Inc. now owns 17,356 shares of the financial services provider’s stock valued at $552,000 after purchasing an additional 415 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of Trustmark by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 30,800 shares of the financial services provider’s stock valued at $925,000 after purchasing an additional 600 shares during the period. CWM LLC boosted its holdings in shares of 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 period. Finally, Barnes Pettey Financial Advisors LLC boosted its holdings in shares of Trustmark by 9.2% in the second quarter. Barnes Pettey Financial Advisors LLC now owns 8,882 shares of the financial services provider’s stock valued at $267,000 after purchasing an additional 750 shares during the period. Institutional investors own 67.64% of the company’s stock.

Trustmark Stock Performance

Shares of TRMK opened at $38.30 on Wednesday. Trustmark Co. has a 12 month low of $23.87 and a 12 month high of $40.73. The stock has a fifty day moving average price of $35.53 and a 200-day moving average price of $32.67. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The firm has a market cap of $2.34 billion, a PE ratio of 11.57 and a beta of 0.75.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.84 EPS for the quarter, beating 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 firm had revenue of $192.30 million during the quarter, compared to analyst estimates of $192.77 million. During the same quarter in the prior year, the business posted $0.64 EPS. Equities research analysts predict that Trustmark Co. will post 2.94 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be issued a dividend of $0.23 per share. The ex-dividend date is Friday, November 29th. This represents a $0.92 annualized dividend and a dividend yield of 2.40%. Trustmark’s dividend payout ratio is presently 27.79%.

Insider Activity

In related news, Director Marcelo L. Eduardo sold 790 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 7,334 shares of the company’s stock, valued at $263,217.26. This represents a 9.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gerard R. Host sold 26,416 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $39.73, for a total value of $1,049,507.68. Following the completion of the transaction, the director now directly owns 26,792 shares in the company, valued at approximately $1,064,446.16. The trade was a 49.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,206 shares of company stock worth $1,347,991. Insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TRMK. Truist Financial boosted their price target on Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a report on Friday, October 25th. DA Davidson upped their target price on Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Hovde Group upped their target price on Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $35.20.

Trustmark 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.