Vanguard Group Inc. Acquires 50,795 Shares of Trustmark Co. (NASDAQ:TRMK)

Vanguard Group Inc. lifted its stake in Trustmark Co. (NASDAQ:TRMK) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,712,905 shares of the financial services provider’s stock after purchasing an additional 50,795 shares during the period. Vanguard Group Inc. owned 10.99% of Trustmark worth $187,156,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Arlington Trust Co LLC bought a new position in Trustmark during the fourth quarter worth about $84,000. Advisor Resource Council acquired a new stake in shares of Trustmark in the 4th quarter valued at approximately $230,000. Teza Capital Management LLC bought a new position in Trustmark during the 3rd quarter worth approximately $242,000. Element Wealth LLC acquired a new position in Trustmark during the fourth quarter valued at approximately $246,000. Finally, Diligent Investors LLC bought a new stake in Trustmark in the fourth quarter valued at approximately $248,000. 67.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Truist Financial boosted their price target on shares of Trustmark from $30.00 to $32.00 and gave the company a “hold” rating in a report on Friday, April 26th. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. Piper Sandler reiterated a “neutral” rating and set a $29.00 price objective on shares of Trustmark in a report on Tuesday, March 26th. Keefe, Bruyette & Woods raised Trustmark from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $30.00 to $36.00 in a research note on Thursday, April 25th. Finally, DA Davidson raised their target price on shares of Trustmark from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $32.75.

Trustmark Stock Up 0.7 %

Shares of Trustmark stock opened at $29.91 on Wednesday. Trustmark Co. has a 52-week low of $18.96 and a 52-week high of $31.23. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.83 and a current ratio of 0.84. The business’s 50 day simple moving average is $29.48 and its 200 day simple moving average is $27.89. The firm has a market cap of $1.83 billion, a PE ratio of 11.64 and a beta of 0.75.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.08. Trustmark had a net margin of 13.82% and a return on equity of 10.04%. The business had revenue of $288.55 million for the quarter, compared to analyst estimates of $187.03 million. During the same quarter in the previous year, the firm posted $0.82 earnings per share. On average, analysts predict that Trustmark Co. will post 2.77 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, June 15th. Investors of record on Saturday, June 1st were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.92 annualized dividend and a yield of 3.08%. Trustmark’s dividend payout ratio (DPR) is presently 35.80%.

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.