Trustmark Co. (NASDAQ:TRMK) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC raised its position in Trustmark Co. (NASDAQ:TRMK) by 0.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 196,559 shares of the financial services provider’s stock after buying an additional 340 shares during the quarter. Empowered Funds LLC owned about 0.32% of Trustmark worth $6,255,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. American Century Companies Inc. increased its stake 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 period. Stieven Capital Advisors L.P. increased its position in Trustmark by 57.2% during the 1st quarter. Stieven Capital Advisors L.P. now owns 503,000 shares of the financial services provider’s stock worth $14,139,000 after purchasing an additional 183,100 shares during the period. Hanson & Doremus Investment Management purchased a new position in shares of Trustmark during the 2nd quarter worth approximately $4,199,000. Earnest Partners LLC lifted its holdings in shares of Trustmark by 3.1% in the 2nd quarter. Earnest Partners LLC now owns 3,442,019 shares of the financial services provider’s stock valued at $103,398,000 after buying an additional 102,268 shares during the period. Finally, Kennedy Capital Management LLC purchased a new stake in shares of Trustmark in the first quarter valued at approximately $2,604,000. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on TRMK. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Truist Financial increased their price target on shares of Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a report on Friday, October 25th. Hovde Group boosted their price objective on shares of Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Finally, DA Davidson upped their target price on shares of Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $35.20.

Insider Activity at Trustmark

In related news, Director Gerard R. Host sold 26,416 shares of Trustmark stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $39.73, for a total transaction of $1,049,507.68. Following the sale, the director now owns 26,792 shares of the company’s stock, valued at $1,064,446.16. The trade was a 49.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Marcelo L. Eduardo sold 790 shares of the business’s 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 transaction, the director now owns 7,334 shares in the company, valued at $263,217.26. This represents a 9.72 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Trustmark Stock Performance

Shares of TRMK stock opened at $38.15 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 11.53 and a beta of 0.72. Trustmark Co. has a one year low of $22.11 and a one year high of $40.60. The company has a 50 day moving average price of $33.93 and a 200 day moving average price of $31.96.

Trustmark (NASDAQ:TRMK) last issued 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. The business had revenue of $192.30 million during the quarter, compared to analysts’ expectations of $192.77 million. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. During the same quarter in the previous year, the business earned $0.64 EPS. Sell-side analysts anticipate that Trustmark Co. will post 2.93 EPS for the current year.

Trustmark Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be paid a $0.23 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.41%. Trustmark’s dividend payout ratio (DPR) is currently 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.