State Street Corp Boosts Stake in Trustmark Co. (NASDAQ:TRMK)

State Street Corp grew its stake in Trustmark Co. (NASDAQ:TRMK) by 0.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,090,988 shares of the financial services provider’s stock after acquiring an additional 24,450 shares during the quarter. State Street Corp owned about 0.05% of Trustmark worth $98,355,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. GoalVest Advisory LLC purchased a new position in Trustmark in the third quarter valued at about $63,000. Innealta Capital LLC bought a new stake in shares of Trustmark in the 2nd quarter valued at about $61,000. nVerses Capital LLC bought a new stake in shares of Trustmark in the 3rd quarter valued at about $67,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Trustmark in the 3rd quarter worth approximately $130,000. Finally, Blue Trust Inc. raised its stake in shares of Trustmark by 225.2% during the 3rd quarter. Blue Trust Inc. now owns 4,953 shares of the financial services provider’s stock worth $149,000 after acquiring an additional 3,430 shares in the last quarter. 67.64% of the stock is owned by institutional investors.

Trustmark Price Performance

NASDAQ TRMK opened at $37.54 on Monday. The stock’s fifty day moving average price is $36.59 and its 200 day moving average price is $33.15. Trustmark Co. has a 1 year low of $25.24 and a 1 year high of $40.73. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 11.34 and a beta of 0.75.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (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 firm had revenue of $192.30 million during the quarter, compared to analysts’ expectations of $192.77 million. During the same period last year, the business posted $0.64 earnings per share. As a group, equities research analysts forecast that Trustmark Co. will post 2.94 earnings per share for the current 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 paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.45%. Trustmark’s payout ratio is currently 27.79%.

Insider Transactions at Trustmark

In other Trustmark news, Director Marcelo L. Eduardo sold 790 shares of the business’s 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 completion of the transaction, the director now directly owns 7,334 shares of the company’s stock, valued at approximately $263,217.26. The trade was a 9.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gerard R. Host sold 26,416 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $39.73, for a total value of $1,049,507.68. Following the completion of the sale, the director now owns 26,792 shares in the company, valued at approximately $1,064,446.16. This represents a 49.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,206 shares of company stock worth $1,347,991 over the last 90 days. 1.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Truist Financial raised their target price on shares of Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a research note on Friday, October 25th. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Hovde Group upped their target price on Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Finally, DA Davidson increased their price target on Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.