Legacy Wealth Management LLC MS Has $340,000 Stock Holdings in Trustmark Co. (NASDAQ:TRMK)

Legacy Wealth Management LLC MS lifted its holdings in shares of Trustmark Co. (NASDAQ:TRMK) by 10.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,700 shares of the financial services provider’s stock after acquiring an additional 1,000 shares during the period. Legacy Wealth Management LLC MS’s holdings in Trustmark were worth $340,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Magnolia Capital Advisors LLC bought a new stake in Trustmark during the 2nd quarter worth approximately $1,081,000. Dimensional Fund Advisors LP grew its holdings in 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 worth $121,683,000 after buying an additional 64,334 shares in the last quarter. Verition Fund Management LLC raised its position in Trustmark by 19.8% in the 3rd quarter. Verition Fund Management LLC now owns 778,312 shares of the financial services provider’s stock valued at $24,766,000 after buying an additional 128,834 shares during the last quarter. Renaissance Technologies LLC bought a new position in Trustmark during the 2nd quarter valued at $1,372,000. Finally, Earnest Partners LLC boosted its holdings 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 acquiring an additional 102,268 shares during the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. DA Davidson increased their target price on shares of Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Hovde Group upped their target price on Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Finally, Truist Financial lifted their price target on Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Trustmark presently has an average rating of “Hold” and an average price target of $35.20.

Trustmark Stock Performance

NASDAQ TRMK traded down $0.21 on Friday, hitting $37.46. 16,325 shares of the stock traded hands, compared to its average volume of 279,913. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. The business’s fifty day moving average is $36.48 and its two-hundred day moving average is $33.03. Trustmark Co. has a 12 month low of $25.24 and a 12 month high of $40.73. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 11.38 and a beta of 0.75.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.02. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. The company had revenue of $192.30 million during the quarter, compared to analyst estimates of $192.77 million. During the same quarter last year, the firm posted $0.64 EPS. As a group, equities analysts anticipate that Trustmark Co. will post 2.94 EPS for the current fiscal year.

Trustmark Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Friday, November 29th. Trustmark’s dividend payout ratio (DPR) is currently 27.79%.

Insider Activity at Trustmark

In related news, Director Gerard R. Host sold 26,416 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $39.73, for a total transaction of $1,049,507.68. Following the sale, the director now directly owns 26,792 shares in the company, valued at approximately $1,064,446.16. The trade was a 49.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Marcelo L. Eduardo sold 790 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $35.89, for a total value of $28,353.10. Following the sale, the director now directly owns 7,334 shares in the company, valued at $263,217.26. This trade represents a 9.72 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,206 shares of company stock worth $1,347,991. 1.50% of the stock is owned by corporate insiders.

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.