Intech Investment Management LLC Invests $338,000 in Trustmark Co. (NASDAQ:TRMK)

Intech Investment Management LLC bought a new position in Trustmark Co. (NASDAQ:TRMK) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 10,627 shares of the financial services provider’s stock, valued at approximately $338,000.

Other institutional investors also recently bought and sold shares of the company. Magnolia Capital Advisors LLC bought a new position in Trustmark in the 2nd quarter worth $1,081,000. Dimensional Fund Advisors LP raised its holdings in Trustmark by 1.6% in 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 purchasing an additional 64,334 shares during the period. Renaissance Technologies LLC bought a new position in Trustmark in the 2nd quarter worth $1,372,000. Earnest Partners LLC raised its holdings in Trustmark by 3.1% in the 2nd quarter. Earnest Partners LLC now owns 3,442,019 shares of the financial services provider’s stock worth $103,398,000 after purchasing an additional 102,268 shares during the period. Finally, Comerica Bank raised its holdings in Trustmark by 18.7% in the 1st quarter. Comerica Bank now owns 34,013 shares of the financial services provider’s stock worth $956,000 after purchasing an additional 5,360 shares during the period. 67.64% of the stock is owned by institutional investors.

Trustmark Trading Down 1.7 %

Shares of Trustmark stock opened at $38.30 on Wednesday. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of 11.57 and a beta of 0.75. The business has a 50-day moving average price of $35.53 and a 200-day moving average price of $32.67. 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 Co. has a twelve month low of $23.87 and a twelve month high of $40.73.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. The firm had revenue of $192.30 million during the quarter, compared to analyst estimates of $192.77 million. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. During the same quarter last year, the business posted $0.64 earnings per share. Equities research analysts anticipate that Trustmark Co. will post 2.94 EPS for the current fiscal year.

Trustmark Announces Dividend

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

Insider Activity

In other Trustmark news, Director Gerard R. Host sold 26,416 shares of the business’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 transaction of $1,049,507.68. Following the sale, the director now directly owns 26,792 shares of the company’s stock, valued at $1,064,446.16. The trade was a 49.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 sale, the director now directly 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. Insiders sold a total of 34,206 shares of company stock worth $1,347,991 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

TRMK has been the topic of a number of recent research reports. Hovde Group raised 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. Truist Financial raised 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. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, DA Davidson raised their price target on 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 MarketBeat, Trustmark presently has a consensus rating of “Hold” and an average price target of $35.20.

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.