HighTower Advisors LLC Increases Stock Position in Trustmark Co. (NASDAQ:TRMK)

HighTower Advisors LLC grew its holdings in Trustmark Co. (NASDAQ:TRMK) by 117.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,991 shares of the financial services provider’s stock after purchasing an additional 8,097 shares during the quarter. HighTower Advisors LLC’s holdings in Trustmark were worth $479,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TRMK. American Century Companies Inc. grew its holdings 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 buying an additional 199,245 shares during the last quarter. Hanson & Doremus Investment Management purchased a new stake in shares of Trustmark in the second quarter valued at $4,199,000. Verition Fund Management LLC boosted its stake in shares of Trustmark by 19.8% during the third quarter. Verition Fund Management LLC now owns 778,312 shares of the financial services provider’s stock valued at $24,766,000 after acquiring an additional 128,834 shares during the last quarter. Earnest Partners LLC increased its position in Trustmark by 3.1% during 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 in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake 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 valued at $121,683,000 after purchasing an additional 64,334 shares during the last quarter. 67.64% of the stock is owned by hedge funds and other institutional investors.

Trustmark Price Performance

Trustmark stock opened at $35.71 on Friday. The firm has a fifty day moving average of $36.99 and a 200-day moving average of $33.33. Trustmark Co. has a 52-week low of $25.24 and a 52-week high of $40.73. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $2.18 billion, a P/E ratio of 10.79 and a beta of 0.75.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.84 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 company had revenue of $192.30 million for the quarter, compared to analysts’ expectations of $192.77 million. During the same quarter in the previous year, the firm posted $0.64 earnings per share. As a group, analysts predict that Trustmark Co. will post 2.94 EPS for the current year.

Trustmark Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.58%. Trustmark’s dividend payout ratio is currently 27.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. DA Davidson lifted their price target on shares of Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Truist Financial lifted their target price on shares of Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Hovde Group lifted their price objective on Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $35.20.

Insider Transactions at Trustmark

In other news, Director Marcelo L. Eduardo sold 790 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total value of $28,353.10. Following the completion of the sale, the director now owns 7,334 shares of the company’s stock, valued at approximately $263,217.26. The trade was a 9.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gerard R. Host sold 26,416 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 26,792 shares in the company, valued at $1,064,446.16. This represents a 49.65 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,206 shares of company stock valued at $1,347,991. Corporate insiders own 1.50% of the company’s stock.

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.