Empowered Funds LLC purchased a new position in shares of Trustmark Corporation (NASDAQ:TRMK – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 265,345 shares of the financial services provider’s stock, valued at approximately $12,209,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC bought a new stake in shares of Trustmark in the 4th quarter valued at $898,000. UBS Group AG increased its position in shares of Trustmark by 282.0% during the fourth quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock worth $24,944,000 after buying an additional 472,751 shares during the period. Bank of America Corp DE raised its stake in Trustmark by 121.1% during the first quarter. Bank of America Corp DE now owns 316,772 shares of the financial services provider’s stock worth $13,349,000 after buying an additional 173,486 shares during the last quarter. Horizon Investments LLC bought a new position in Trustmark during the fourth quarter worth $1,185,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in Trustmark in the second quarter valued at $1,859,000. Institutional investors and hedge funds own 67.64% of the company’s stock.
Analyst Ratings Changes
A number of analysts have commented on TRMK shares. Piper Sandler upped their price target on shares of Trustmark from $45.50 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Weiss Ratings raised Trustmark from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, August 14th. DA Davidson upped their target price on Trustmark from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Finally, Wall Street Zen upgraded Trustmark from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Trustmark has a consensus rating of “Hold” and an average price target of $46.12.
Trustmark Stock Up 0.1%
TRMK stock opened at $46.27 on Friday. The stock’s 50 day simple moving average is $46.79 and its 200 day simple moving average is $44.79. The company has a market cap of $2.69 billion, a P/E ratio of 11.74 and a beta of 0.65. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.89. Trustmark Corporation has a fifty-two week low of $36.33 and a fifty-two week high of $49.00.
Trustmark (NASDAQ:TRMK – Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The firm had revenue of $213.38 million during the quarter, compared to analysts’ expectations of $210.30 million. Trustmark had a return on equity of 10.69% and a net margin of 20.75%.The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.92 earnings per share. On average, research analysts expect that Trustmark Corporation will post 3.93 earnings per share for the current fiscal year.
Trustmark Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 1st. Trustmark’s payout ratio is currently 25.38%.
About Trustmark
Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.
In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.
Featured Articles
- Five stocks we like better than Trustmark
- 3 Financial Stocks Positioned for the Fed’s Next Move After Jackson Hole
- IREN’s AI Pivot Looks Real, But the Market Wanted a Faster Payoff After Earnings
- Boeing’s $131B F-15 Win: Mach 1 Momentum or Just Altitude?
- Okta Stock Surges 29%—Is $200 the Next Stop?
Want to see what other hedge funds are holding TRMK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trustmark Corporation (NASDAQ:TRMK – Free Report).
Receive News & Ratings for Trustmark Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trustmark and related companies with MarketBeat.com's FREE daily email newsletter.
