165,191 Shares in Trustmark Corporation $TRMK Bought by Nuveen LLC

Key Points

• Nuveen LLC has acquired 165,191 shares of Trustmark Corporation, valued at approximately $5.7 million, indicating a new investment in the financial services provider.
• Trustmark announced a quarterly dividend of $0.24 per share, with a dividend yield of 2.4%, set to be paid on September 15th.
• Trustmark's recent earnings report showed an EPS of $0.92, exceeding estimates, and the stock currently holds a price target of $41.00 according to analysts.

Nuveen LLC purchased a new stake in shares of Trustmark Corporation (NASDAQ:TRMK - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 165,191 shares of the financial services provider's stock, valued at approximately $5,697,000. Nuveen LLC owned approximately 0.27% of Trustmark at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of TRMK. Raymond James Financial Inc. acquired a new position in Trustmark during the 4th quarter valued at approximately $1,145,000. Barclays PLC increased its stake in Trustmark by 0.9% during the 4th quarter. Barclays PLC now owns 126,911 shares of the financial services provider's stock valued at $4,489,000 after purchasing an additional 1,168 shares in the last quarter. First Trust Advisors LP increased its stake in Trustmark by 35.6% during the 4th quarter. First Trust Advisors LP now owns 147,326 shares of the financial services provider's stock valued at $5,211,000 after purchasing an additional 38,660 shares in the last quarter. MetLife Investment Management LLC increased its stake in Trustmark by 5.8% during the 4th quarter. MetLife Investment Management LLC now owns 37,141 shares of the financial services provider's stock valued at $1,314,000 after purchasing an additional 2,020 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in Trustmark by 110.3% during the 4th quarter. Hsbc Holdings PLC now owns 16,194 shares of the financial services provider's stock valued at $575,000 after purchasing an additional 8,494 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company's stock.

Insiders Place Their Bets

In related news, Director Marcelo L. Eduardo sold 700 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $38.49, for a total transaction of $26,943.00. Following the sale, the director directly owned 8,577 shares of the company's stock, valued at approximately $330,128.73. This represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Gerard R. Host sold 1,556 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $40.63, for a total transaction of $63,220.28. The disclosure for this sale can be found here. Insiders have sold 23,226 shares of company stock worth $897,299 over the last three months. 1.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TRMK. DA Davidson upped their price target on shares of Trustmark from $39.00 to $43.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Hovde Group upped their price target on shares of Trustmark from $37.00 to $41.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th. Finally, Wall Street Zen downgraded shares of Trustmark from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $41.00.

Trustmark Stock Performance

Shares of TRMK stock traded down $0.25 during trading hours on Friday, hitting $40.27. The company's stock had a trading volume of 182,180 shares, compared to its average volume of 241,952. The company has a 50 day moving average of $38.09 and a 200 day moving average of $35.71. The stock has a market cap of $2.43 billion, a PE ratio of 11.31 and a beta of 0.71. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. Trustmark Corporation has a 12-month low of $29.77 and a 12-month high of $40.81.

Trustmark (NASDAQ:TRMK - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.86 by $0.06. The business had revenue of $203.44 million for the quarter, compared to the consensus estimate of $200.35 million. Trustmark had a net margin of 19.21% and a return on equity of 10.81%. During the same period in the prior year, the firm earned $0.66 EPS. On average, sell-side analysts forecast that Trustmark Corporation will post 3.42 EPS for the current fiscal year.

Trustmark Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.96 dividend on an annualized basis and a yield of 2.4%. Trustmark's dividend payout ratio is 26.97%.

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.