Nuveen Asset Management LLC Has $7.79 Million Position in Trustmark Co. (NASDAQ:TRMK)

Nuveen Asset Management LLC lowered its position in Trustmark Co. (NASDAQ:TRMK – Get Rating) by 1.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 254,450 shares of the financial services provider’s stock after selling 4,721 shares during the quarter. Nuveen Asset Management LLC owned 0.42% of Trustmark worth $7,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Trustmark by 1.4% in the first quarter. Vanguard Group Inc. now owns 6,381,138 shares of the financial services provider’s stock valued at $193,923,000 after acquiring an additional 90,274 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Trustmark by 0.9% in the third quarter. Dimensional Fund Advisors LP now owns 3,921,911 shares of the financial services provider’s stock valued at $120,129,000 after acquiring an additional 36,670 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Trustmark by 39.4% in the second quarter. Goldman Sachs Group Inc. now owns 872,447 shares of the financial services provider’s stock valued at $25,466,000 after acquiring an additional 246,723 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Trustmark by 0.3% in the first quarter. Bank of New York Mellon Corp now owns 759,564 shares of the financial services provider’s stock valued at $23,081,000 after acquiring an additional 2,212 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in Trustmark by 9.5% in the third quarter. New York State Common Retirement Fund now owns 661,176 shares of the financial services provider’s stock valued at $20,252,000 after acquiring an additional 57,473 shares during the last quarter. Institutional investors and hedge funds own 65.83% of the company’s stock.

Insider Activity

In other news, Director Tracy T. Conerly purchased 1,500 shares of the business’s stock in a transaction dated Friday, January 27th. The stock was bought at an average price of $28.24 per share, for a total transaction of $42,360.00. Following the purchase, the director now owns 1,500 shares of the company’s stock, valued at $42,360. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Trustmark Trading Up 0.8 %

NASDAQ TRMK opened at $26.72 on Friday. The firm has a market capitalization of $1.63 billion, a P/E ratio of 23.03 and a beta of 0.80. The business has a fifty day simple moving average of $31.02 and a 200 day simple moving average of $32.94. Trustmark Co. has a 12 month low of $25.51 and a 12 month high of $38.47. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.12.

Trustmark (NASDAQ:TRMK – Get Rating) last announced its earnings results on Tuesday, January 24th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.14). Trustmark had a net margin of 9.47% and a return on equity of 9.48%. The business had revenue of $225.13 million for the quarter, compared to analysts’ expectations of $196.87 million. During the same period in the prior year, the business earned $0.42 earnings per share. On average, analysts predict that Trustmark Co. will post 2.47 EPS for the current fiscal year.

Trustmark Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Tuesday, February 28th. Trustmark’s dividend payout ratio is presently 79.31%.

Analysts Set New Price Targets

Several analysts recently commented on TRMK shares. Raymond James upgraded Trustmark from a “market perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a report on Tuesday, February 21st. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Tuesday, March 7th. Piper Sandler cut their price target on Trustmark from $36.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, January 26th. Truist Financial cut their price target on Trustmark from $37.00 to $30.00 and set a “hold” rating on the stock in a report on Wednesday, February 1st. Finally, TheStreet cut Trustmark from a “b-” rating to a “c+” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $34.20.

Trustmark Profile

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Trustmark Corp. is a bank holding company. The firm engages in the provision of banking, wealth management and insurance solutions. It operates through the following segments: General Banking, Wealth Management and Insurance. The General Banking segment offers traditional banking products & services, including commercial and consumer banking services, such as checking accounts, savings programs, overdraft facilities, commercial, installment & real estate loans, home equity loans, lines of credit, drive-in & night deposit services and safe deposit facilities.