Y Intercept Hong Kong Ltd Takes Position in Trustmark Co. (NASDAQ:TRMK)

Y Intercept Hong Kong Ltd purchased a new stake in Trustmark Co. (NASDAQ:TRMK) in the third quarter, HoldingsChannel reports. The fund purchased 6,667 shares of the financial services provider’s stock, valued at approximately $212,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TRMK. Wellington Management Group LLP boosted its holdings in shares of Trustmark by 32.6% in the 3rd quarter. Wellington Management Group LLP now owns 1,356,853 shares of the financial services provider’s stock worth $43,175,000 after purchasing an additional 333,390 shares during the period. American Century Companies Inc. lifted its position in Trustmark by 25.3% in the second quarter. American Century Companies Inc. now owns 986,322 shares of the financial services provider’s stock worth $29,629,000 after buying an additional 199,245 shares during the last quarter. Hanson & Doremus Investment Management purchased a new position in Trustmark during the second quarter worth $4,199,000. Verition Fund Management LLC increased its position in 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. Finally, Earnest Partners LLC raised its stake 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 valued at $103,398,000 after acquiring an additional 102,268 shares during the period. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Insiders Place Their Bets

In other news, Director Gerard R. Host sold 7,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $38.59, for a total value of $270,130.00. Following the sale, the director now directly owns 16,500 shares in the company, valued at approximately $636,735. This trade represents a 29.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Marcelo L. Eduardo sold 790 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 7,334 shares of the company’s stock, valued at approximately $263,217.26. This trade represents a 9.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,206 shares of company stock worth $1,347,991 over the last 90 days. Company insiders own 1.50% of the company’s stock.

Trustmark Stock Down 5.5 %

Shares of NASDAQ:TRMK opened at $34.98 on Thursday. 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 business’s 50 day moving average is $36.83 and its 200 day moving average is $33.26. The stock has a market cap of $2.14 billion, a P/E ratio of 10.57 and a beta of 0.75. Trustmark Co. has a 52-week low of $25.24 and a 52-week high of $40.73.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 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 firm had revenue of $192.30 million for the quarter, compared to analyst estimates of $192.77 million. During the same quarter last year, the firm posted $0.64 earnings per share. Sell-side analysts predict that Trustmark Co. will post 2.94 EPS for the current year.

Trustmark Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date was Friday, November 29th. Trustmark’s dividend payout ratio (DPR) is 27.79%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TRMK shares. DA Davidson increased their price objective 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. Truist Financial increased their price target on Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Hovde Group boosted their price objective on Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Finally, StockNews.com upgraded 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 issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $35.20.

Trustmark 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.