BNP Paribas Financial Markets Boosts Stock Position in Trustmark Co. (NASDAQ:TRMK)

BNP Paribas Financial Markets increased its position in Trustmark Co. (NASDAQ:TRMK) by 93.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,767 shares of the financial services provider’s stock after acquiring an additional 11,477 shares during the quarter. BNP Paribas Financial Markets’ holdings in Trustmark were worth $756,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in Trustmark by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,050,787 shares of the financial services provider’s stock valued at $121,683,000 after purchasing an additional 64,334 shares during the period. Earnest Partners LLC lifted its holdings in shares of Trustmark by 3.1% in the second quarter. Earnest Partners LLC now owns 3,442,019 shares of the financial services provider’s stock worth $103,398,000 after buying an additional 102,268 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Trustmark by 25.3% during the second quarter. American Century Companies Inc. now owns 986,322 shares of the financial services provider’s stock worth $29,629,000 after acquiring an additional 199,245 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Trustmark by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 685,875 shares of the financial services provider’s stock valued at $20,604,000 after acquiring an additional 2,714 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Trustmark by 6.8% in the 3rd quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider’s stock valued at $19,059,000 after acquiring an additional 37,989 shares during the last quarter. Institutional investors own 67.64% of the company’s stock.

Insider Activity

In other Trustmark news, Director Marcelo L. Eduardo sold 790 shares of Trustmark stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $35.89, for a total transaction of $28,353.10. Following the completion of the sale, the director now directly owns 7,334 shares of the company’s stock, valued at $263,217.26. The trade was a 9.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gerard R. Host sold 7,000 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $38.59, for a total value of $270,130.00. Following the transaction, the director now directly owns 16,500 shares in the company, valued at $636,735. The trade was 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.

Trustmark Price Performance

Trustmark stock opened at $38.25 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. Trustmark Co. has a 12-month low of $25.24 and a 12-month high of $40.73. The firm has a market capitalization of $2.34 billion, a PE ratio of 11.56 and a beta of 0.75. The firm has a 50-day moving average price of $36.35 and a 200-day moving average price of $33.00.

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

Trustmark Announces Dividend

The firm also recently announced 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 is Friday, November 29th. This represents a $0.92 annualized dividend and a dividend yield of 2.41%. Trustmark’s dividend payout ratio (DPR) is 27.79%.

Wall Street Analysts Forecast Growth

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

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.