World Investment Advisors LLC Takes Position in Trustmark Co. (NASDAQ:TRMK)

World Investment Advisors LLC bought a new position in shares of Trustmark Co. (NASDAQ:TRMK) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,687 shares of the financial services provider’s stock, valued at approximately $499,000.

Other hedge funds have also recently bought and sold shares of the company. Innealta Capital LLC purchased a new position in Trustmark during the second quarter worth approximately $61,000. GoalVest Advisory LLC purchased a new stake in Trustmark during the 3rd quarter worth $63,000. nVerses Capital LLC purchased a new stake in Trustmark during the 3rd quarter worth $67,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Trustmark during the 3rd quarter worth $130,000. Finally, Blue Trust Inc. grew its holdings in Trustmark by 225.2% during the 3rd quarter. Blue Trust Inc. now owns 4,953 shares of the financial services provider’s stock worth $149,000 after acquiring an additional 3,430 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Insider Transactions at Trustmark

In other news, Director Gerard R. Host sold 26,416 shares of Trustmark stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $39.73, for a total value of $1,049,507.68. Following the transaction, the director now directly owns 26,792 shares of the company’s stock, valued at $1,064,446.16. This trade represents a 49.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Marcelo L. Eduardo sold 790 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total transaction of $28,353.10. Following the transaction, the director now directly owns 7,334 shares in the company, valued at $263,217.26. The trade was a 9.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,206 shares of company stock valued at $1,347,991 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Hovde Group raised 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. Truist Financial lifted their price objective on shares of Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a research report on Friday, October 25th. DA Davidson lifted their price objective on shares of Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. 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. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $35.20.

Trustmark Stock Down 2.8 %

NASDAQ TRMK opened at $37.02 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. The company’s 50 day simple moving average is $36.72 and its 200 day simple moving average is $33.21. Trustmark Co. has a 12 month low of $25.24 and a 12 month high of $40.73. The company has a market capitalization of $2.26 billion, a P/E ratio of 11.18 and a beta of 0.75.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.02. The business had revenue of $192.30 million for the quarter, compared to the consensus estimate of $192.77 million. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. During the same period last year, the firm posted $0.64 earnings per share. Equities research analysts expect that Trustmark Co. will post 2.94 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Friday, November 29th. Trustmark’s dividend payout ratio (DPR) is currently 27.79%.

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.