Nuveen LLC Invests $5.70 Million in Trustmark Corporation $TRMK

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 Trustmark Corporation (NASDAQ:TRMK - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Headlands Technologies LLC grew its stake in Trustmark by 19.5% in the first quarter. Headlands Technologies LLC now owns 21,783 shares of the financial services provider's stock valued at $751,000 after purchasing an additional 3,559 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Trustmark by 11.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 993,941 shares of the financial services provider's stock valued at $34,281,000 after purchasing an additional 99,134 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Trustmark by 13.4% in the first quarter. PNC Financial Services Group Inc. now owns 11,071 shares of the financial services provider's stock valued at $382,000 after purchasing an additional 1,304 shares in the last quarter. Natixis Advisors LLC bought a new position in Trustmark in the first quarter valued at approximately $413,000. Finally, Federated Hermes Inc. grew its stake in Trustmark by 0.6% in the first quarter. Federated Hermes Inc. now owns 341,927 shares of the financial services provider's stock valued at $11,793,000 after purchasing an additional 2,050 shares in the last quarter. 67.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wall Street Zen downgraded Trustmark from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Hovde Group lifted their target price on Trustmark from $37.00 to $41.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. Finally, DA Davidson lifted their target price on Trustmark from $39.00 to $43.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $41.00.

Trustmark Stock Performance

NASDAQ:TRMK traded down $0.11 during mid-day trading on Thursday, hitting $40.52. 180,546 shares of the stock were exchanged, compared to its average volume of 260,297. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 11.38 and a beta of 0.70. The firm's 50-day simple moving average is $37.97 and its 200 day simple moving average is $35.72. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.88. Trustmark Corporation has a fifty-two week low of $29.77 and a fifty-two week high of $40.81.

Trustmark (NASDAQ:TRMK - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.06. The business had revenue of $203.44 million during the quarter, compared to analysts' expectations of $200.35 million. Trustmark had a return on equity of 10.81% and a net margin of 19.21%.During the same period last year, the firm posted $0.66 EPS. As a group, equities analysts anticipate that Trustmark Corporation will post 3.42 EPS for the current fiscal year.

Trustmark Announces Dividend

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

Insider Buying and Selling at Trustmark

In other Trustmark news, Director Gerard R. Host sold 20,970 shares of Trustmark stock in a transaction on Monday, August 18th. The stock was sold at an average price of $38.49, for a total value of $807,135.30. Following the completion of the transaction, the director directly owned 158,360 shares of the company's stock, valued at $6,095,276.40. The trade was a 11.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Marcelo L. Eduardo sold 700 shares of Trustmark stock in a transaction on Monday, August 18th. The shares were sold at an average price of $38.49, for a total value of $26,943.00. Following the completion of the transaction, the director directly owned 8,577 shares of the company's stock, valued at $330,128.73. This represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,226 shares of company stock valued at $897,299 over the last ninety days. 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.