BNP Paribas Financial Markets Increases Stock Holdings in Trustmark Co. (NASDAQ:TRMK)

BNP Paribas Financial Markets boosted its holdings in shares of Trustmark Co. (NASDAQ:TRMK) by 93.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 23,767 shares of the financial services provider’s stock after buying an additional 11,477 shares during the quarter. BNP Paribas Financial Markets’ holdings in Trustmark were worth $756,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TRMK. Dimensional Fund Advisors LP increased its holdings in shares of Trustmark by 1.6% during 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 acquiring an additional 64,334 shares in the last quarter. Earnest Partners LLC grew 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 during the last quarter. American Century Companies Inc. increased its stake 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 purchasing an additional 199,245 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Trustmark by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 685,875 shares of the financial services provider’s stock worth $20,604,000 after buying an additional 2,714 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Trustmark by 6.8% during the third quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider’s stock valued at $19,059,000 after buying an additional 37,989 shares during the last quarter. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

Trustmark Stock Up 0.5 %

Trustmark stock opened at $38.25 on Thursday. The business’s 50-day moving average price is $36.35 and its 200 day moving average price is $33.00. 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 cap of $2.34 billion, a price-to-earnings ratio of 11.56 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 released its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. The company had revenue of $192.30 million during the quarter, compared to analysts’ expectations of $192.77 million. During the same quarter in the previous year, the company earned $0.64 earnings per share. As a group, sell-side analysts anticipate that Trustmark Co. will post 2.94 earnings per share for the current year.

Trustmark Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be given a dividend of $0.23 per share. The ex-dividend date is Friday, November 29th. This represents a $0.92 dividend on an annualized basis and a yield of 2.41%. Trustmark’s dividend payout ratio is currently 27.79%.

Analysts Set New Price Targets

A number of analysts have commented on the company. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Hovde Group lifted their target price on Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. DA Davidson increased 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. Finally, 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 note on Friday, October 25th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $35.20.

Insider Buying and Selling at Trustmark

In other news, Director Marcelo L. Eduardo sold 790 shares of Trustmark 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 sale, the director now owns 7,334 shares in the company, valued at $263,217.26. This trade represents a 9.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gerard R. Host sold 7,000 shares of Trustmark stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $38.59, for a total value of $270,130.00. Following the completion of the sale, the director now owns 16,500 shares in the company, valued at approximately $636,735. The trade was a 29.79 % decrease in their ownership of the stock. 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. Company insiders own 1.50% of the company’s stock.

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.