Fmr LLC Has $218,000 Holdings in Trustmark Co. (NASDAQ:TRMK)

Fmr LLC grew its holdings in Trustmark Co. (NASDAQ:TRMK) by 143.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,851 shares of the financial services provider’s stock after purchasing an additional 4,036 shares during the period. Fmr LLC’s holdings in Trustmark were worth $218,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Harbor Capital Advisors Inc. grew its position in Trustmark by 2.4% during 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 in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Trustmark by 2.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 30,800 shares of the financial services provider’s stock valued at $925,000 after buying an additional 600 shares during the period. GoalVest Advisory LLC purchased a new position in shares of Trustmark during the 3rd quarter valued at $63,000. Innealta Capital LLC acquired a new position in shares of Trustmark in the second quarter worth $61,000. Finally, nVerses Capital LLC purchased a new stake in shares of Trustmark during the third quarter worth $67,000. 67.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Marcelo L. Eduardo sold 790 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total value of $28,353.10. Following the sale, the director now owns 7,334 shares in the company, valued at approximately $263,217.26. This trade represents a 9.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gerard R. Host sold 26,416 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 26,792 shares in the company, 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. Insiders sold a total of 34,206 shares of company stock valued at $1,347,991 in the last quarter. Insiders own 1.50% of the company’s stock.

Trustmark Stock Performance

Shares of NASDAQ TRMK opened at $35.71 on Friday. The business’s 50-day simple moving average is $36.99 and its 200-day simple moving average is $33.37. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. Trustmark Co. has a 52 week low of $25.24 and a 52 week high of $40.73. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 10.79 and a beta of 0.75.

Trustmark (NASDAQ:TRMK) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (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 analysts’ expectations of $192.77 million. During the same quarter in the prior year, the business earned $0.64 earnings per share. As a group, equities research analysts expect that Trustmark Co. will post 2.94 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.92 annualized dividend and a yield of 2.58%. Trustmark’s dividend payout ratio (DPR) is presently 27.79%.

Wall Street Analyst Weigh In

A number of brokerages have commented on TRMK. DA Davidson boosted their target price on Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Hovde Group lifted their price target on Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Truist Financial increased their price objective on Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Finally, StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” 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 stock. According to data from MarketBeat.com, Trustmark 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.