MQS Management LLC Buys New Position in Trustmark Co. (NASDAQ:TRMK)

MQS Management LLC bought a new position in shares of Trustmark Co. (NASDAQ:TRMK) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 9,224 shares of the financial services provider’s stock, valued at approximately $277,000.

A number of other hedge funds have also added to or reduced their stakes in TRMK. GAMMA Investing LLC grew its position in shares of Trustmark by 62.1% during the 2nd quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock worth $28,000 after buying an additional 351 shares during the period. EntryPoint Capital LLC bought a new position in Trustmark during the first quarter worth $52,000. Innealta Capital LLC acquired a new stake in Trustmark in the second quarter worth $61,000. CWM LLC increased its stake in Trustmark by 14.6% in the second quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 611 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. acquired a new position in shares of Trustmark during the second quarter valued at about $238,000. 67.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TRMK has been the subject of several research reports. DA Davidson raised their target price on Trustmark from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Truist Financial reduced their price objective on Trustmark from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Friday. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Trustmark presently has a consensus rating of “Hold” and an average target price of $34.50.

Trustmark Trading Down 2.6 %

TRMK opened at $32.72 on Friday. Trustmark Co. has a fifty-two week low of $18.96 and a fifty-two week high of $35.72. The firm has a market capitalization of $2.00 billion, a PE ratio of 12.73 and a beta of 0.74. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.87 and a quick ratio of 0.86. The company’s 50-day moving average is $32.63 and its 200 day moving average is $29.91.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.63 by $0.03. The firm had revenue of $283.96 million during the quarter, compared to the consensus estimate of $229.83 million. Trustmark had a return on equity of 9.32% and a net margin of 16.24%. During the same period in the prior year, the business posted $0.74 earnings per share. As a group, research analysts predict that Trustmark Co. will post 2.93 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date was Friday, August 30th. Trustmark’s dividend payout ratio is 35.80%.

About Trustmark

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.