Geode Capital Management LLC Acquires 15,627 Shares of Trustmark Co. (NASDAQ:TRMK)

Geode Capital Management LLC grew its holdings in Trustmark Co. (NASDAQ:TRMK) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,461,545 shares of the financial services provider’s stock after acquiring an additional 15,627 shares during the period. Geode Capital Management LLC owned 2.39% of Trustmark worth $46,515,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of Trustmark by 1.6% in the second 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. Earnest Partners LLC raised its holdings in Trustmark by 3.1% during the second quarter. Earnest Partners LLC now owns 3,442,019 shares of the financial services provider’s stock valued at $103,398,000 after acquiring an additional 102,268 shares during the period. State Street Corp lifted its position in shares of Trustmark by 0.8% in the third quarter. State Street Corp now owns 3,090,988 shares of the financial services provider’s stock valued at $98,355,000 after acquiring an additional 24,450 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Trustmark by 32.6% in the third quarter. Wellington Management Group LLP now owns 1,356,853 shares of the financial services provider’s stock worth $43,175,000 after acquiring an additional 333,390 shares during the period. Finally, American Century Companies Inc. raised its stake in Trustmark by 25.3% during the 2nd quarter. American Century Companies Inc. now owns 986,322 shares of the financial services provider’s stock valued at $29,629,000 after purchasing an additional 199,245 shares during the period. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Insider Activity

In related news, Director Marcelo L. Eduardo sold 790 shares of the 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 transaction, the director now owns 7,334 shares of the company’s stock, valued at $263,217.26. This represents a 9.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gerard R. Host sold 7,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $38.59, for a total value of $270,130.00. Following the transaction, the director now owns 16,500 shares in the company, valued at approximately $636,735. This represents a 29.79 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,206 shares of company stock valued at $1,347,991. 1.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. DA Davidson increased their price objective on shares of Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. 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. Hovde Group boosted their target price on Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Finally, StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Trustmark has an average rating of “Hold” and an average price target of $35.20.

Trustmark Stock Performance

NASDAQ TRMK opened at $35.80 on Tuesday. 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 fifty-two week low of $25.24 and a fifty-two week high of $40.73. The company has a market cap of $2.19 billion, a P/E ratio of 10.82 and a beta of 0.75. The business’s 50 day moving average price is $37.04 and its 200-day moving average price is $33.46.

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, 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 business had revenue of $192.30 million during the quarter, compared to analyst estimates of $192.77 million. During the same quarter in the previous year, the business earned $0.64 earnings per share. Sell-side analysts predict that Trustmark Co. will post 2.94 earnings per share for the current year.

Trustmark Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were given a dividend of $0.23 per share. The ex-dividend date was Friday, November 29th. This represents a $0.92 annualized dividend and a dividend yield of 2.57%. Trustmark’s dividend payout ratio (DPR) is 27.79%.

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.