Great West Life Assurance Co. Can decreased its holdings in Trustmark Co. (NASDAQ:TRMK) by 6.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 31,566 shares of the financial services provider’s stock after selling 2,038 shares during the period. Great West Life Assurance Co. Can’s holdings in Trustmark were worth $675,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Captrust Financial Advisors bought a new position in shares of Trustmark in the 2nd quarter valued at $33,000. First Bank & Trust increased its stake in shares of Trustmark by 193.8% in the 3rd quarter. First Bank & Trust now owns 2,024 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 1,335 shares during the last quarter. Advisor Group Holdings Inc. increased its stake in shares of Trustmark by 23.8% in the 2nd quarter. Advisor Group Holdings Inc. now owns 6,550 shares of the financial services provider’s stock valued at $161,000 after purchasing an additional 1,258 shares during the last quarter. Handelsbanken Fonder AB bought a new position in shares of Trustmark in the 2nd quarter valued at $217,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Trustmark by 25.9% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 9,490 shares of the financial services provider’s stock valued at $203,000 after purchasing an additional 1,955 shares during the last quarter. Institutional investors own 60.76% of the company’s stock.
A number of equities research analysts recently weighed in on TRMK shares. Piper Sandler boosted their price objective on Trustmark from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, October 29th. BidaskClub upgraded Trustmark from a “hold” rating to a “buy” rating in a research report on Thursday, January 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Trustmark currently has an average rating of “Hold” and an average target price of $25.50.
Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, October 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.34. The business had revenue of $182.88 million for the quarter, compared to analyst estimates of $174.05 million. Trustmark had a return on equity of 8.13% and a net margin of 17.64%. As a group, equities research analysts expect that Trustmark Co. will post 1.93 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Monday, November 30th. Trustmark’s payout ratio is presently 37.55%.
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 offers checking, savings, and money market accounts; individual retirement accounts; certificates of deposits; 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.
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