BankPlus Wealth Management LLC Acquires New Position in Trustmark Co. (NASDAQ:TRMK)

BankPlus Wealth Management LLC bought a new position in shares of Trustmark Co. (NASDAQ:TRMK) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,249 shares of the financial services provider’s stock, valued at approximately $433,000.

Other hedge funds also recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in shares of Trustmark by 124.7% in the 3rd quarter. Barclays PLC now owns 125,743 shares of the financial services provider’s stock worth $4,001,000 after acquiring an additional 69,779 shares during the period. Principal Financial Group Inc. boosted its position in Trustmark by 6.8% during the third quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider’s stock worth $19,059,000 after purchasing an additional 37,989 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Trustmark by 10.7% in the third quarter. JPMorgan Chase & Co. now owns 122,956 shares of the financial services provider’s stock valued at $3,912,000 after purchasing an additional 11,934 shares during the last quarter. State Street Corp increased its position in shares of Trustmark by 0.8% in the third quarter. State Street Corp now owns 3,090,988 shares of the financial services provider’s stock valued at $98,355,000 after buying an additional 24,450 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Trustmark by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,461,545 shares of the financial services provider’s stock worth $46,515,000 after buying an additional 15,627 shares during the last quarter. 67.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Trustmark

In other Trustmark news, Director Gerard R. Host sold 7,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $38.59, for a total transaction of $270,130.00. Following the completion of the sale, the director now owns 16,500 shares of the company’s stock, valued at approximately $636,735. The trade was a 29.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Marcelo L. Eduardo sold 790 shares of the firm’s 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 completion of the transaction, the director now owns 7,334 shares in the company, valued at approximately $263,217.26. This trade represents a 9.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,206 shares of company stock worth $1,347,991. 1.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TRMK shares. Truist Financial raised their target price on shares of Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a report on Friday, October 25th. Janney Montgomery Scott began coverage on shares of Trustmark in a research note on Friday. They set a “buy” rating and a $42.00 price objective for the company. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. DA Davidson boosted their price target on Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Finally, Hovde Group increased their price objective on Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Trustmark presently has a consensus rating of “Hold” and an average price target of $36.33.

Trustmark Stock Up 1.5 %

Shares of NASDAQ:TRMK opened at $36.23 on Tuesday. Trustmark Co. has a 12-month low of $25.24 and a 12-month high of $40.73. The stock’s 50-day moving average price is $36.56 and its two-hundred day moving average price is $34.53. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 10.95 and a beta of 0.76.

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.