Point72 Asia Singapore Pte. Ltd. Buys New Position in Trustmark Co. (NASDAQ:TRMK)

Point72 Asia Singapore Pte. Ltd. purchased a new position in Trustmark Co. (NASDAQ:TRMK) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,093 shares of the financial services provider’s stock, valued at approximately $130,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of TRMK. Verition Fund Management LLC grew its stake in shares of Trustmark by 19.8% in the 3rd 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Trustmark by 11.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,991 shares of the financial services provider’s stock worth $413,000 after buying an additional 1,381 shares in the last quarter. BNP Paribas Financial Markets grew its position in Trustmark by 93.4% in the third quarter. BNP Paribas Financial Markets now owns 23,767 shares of the financial services provider’s stock worth $756,000 after buying an additional 11,477 shares during the last quarter. FMR LLC increased its holdings in shares of Trustmark by 143.4% in the third quarter. FMR LLC now owns 6,851 shares of the financial services provider’s stock valued at $218,000 after buying an additional 4,036 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Trustmark in the third quarter valued at $327,000. 67.64% of the stock is owned by institutional investors and hedge funds.

Trustmark Stock Down 2.0 %

Shares of Trustmark stock opened at $38.04 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. Trustmark Co. has a 1 year low of $24.88 and a 1 year high of $40.73. The stock has a 50-day moving average price of $35.81 and a 200 day moving average price of $32.75. The company has a market cap of $2.33 billion, a P/E ratio of 11.49 and a beta of 0.75.

Trustmark (NASDAQ:TRMK) last posted its quarterly 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. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. The business had revenue of $192.30 million during the quarter, compared to analyst estimates of $192.77 million. During the same period in the prior year, the firm earned $0.64 earnings per share. As a group, analysts expect that Trustmark Co. will post 2.94 EPS for the current fiscal year.

Trustmark Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Friday, November 29th. Trustmark’s dividend payout ratio is currently 27.79%.

Analyst Upgrades and Downgrades

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

Insider Transactions at Trustmark

In other Trustmark news, Director Marcelo L. Eduardo sold 790 shares of Trustmark stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total value of $28,353.10. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gerard R. Host sold 7,000 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $38.59, for a total transaction of $270,130.00. Following the transaction, the director now owns 16,500 shares in the company, valued at approximately $636,735. This trade represents a 29.79 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,206 shares of company stock valued at $1,347,991. 1.50% of the stock is owned by insiders.

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.