JPMorgan Chase & Co. Purchases 11,934 Shares of Trustmark Co. (NASDAQ:TRMK)

JPMorgan Chase & Co. boosted its position in shares of Trustmark Co. (NASDAQ:TRMK) by 10.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,956 shares of the financial services provider’s stock after acquiring an additional 11,934 shares during the quarter. JPMorgan Chase & Co.’s holdings in Trustmark were worth $3,912,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TRMK. Wellington Management Group LLP increased its stake in shares of Trustmark by 32.6% during 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 last quarter. Verition Fund Management LLC grew its holdings 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 worth $24,766,000 after purchasing an additional 128,834 shares during the period. Earnest Partners LLC increased its position in Trustmark by 3.1% during 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 during the last quarter. Barclays PLC raised its stake in Trustmark by 124.7% in the third quarter. Barclays PLC now owns 125,743 shares of the financial services provider’s stock valued at $4,001,000 after buying an additional 69,779 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Trustmark by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,050,787 shares of the financial services provider’s stock valued at $121,683,000 after buying an additional 64,334 shares during the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Price Performance

Shares of Trustmark stock opened at $35.26 on Friday. 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 stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 10.65 and a beta of 0.76. Trustmark Co. has a twelve month low of $25.24 and a twelve month high of $40.73. The company has a 50-day simple moving average of $36.94 and a two-hundred day simple moving average of $34.26.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (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 business had revenue of $192.30 million during the quarter, compared to analysts’ expectations of $192.77 million. During the same period in the previous year, the company posted $0.64 earnings per share. Analysts forecast that Trustmark Co. will post 2.96 EPS for the current year.

Trustmark Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date was Friday, November 29th. Trustmark’s payout ratio is currently 27.79%.

Analysts Set New Price Targets

TRMK has been the topic of a number of research analyst reports. Hovde Group increased their price target on Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. DA Davidson raised their target price on shares of Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. 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. Finally, StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.20.

Insider Activity at Trustmark

In other 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 value of $28,353.10. Following the transaction, the director now owns 7,334 shares in the company, valued at approximately $263,217.26. This trade represents a 9.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gerard R. Host sold 7,000 shares of the business’s 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 of the company’s stock, valued at $636,735. This trade represents a 29.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,206 shares of company stock valued at $1,347,991 over the last quarter. 1.50% of the stock is owned by corporate insiders.

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.