Vanguard Group Inc. Has $187.16 Million Stock Position in Trustmark Co. (NASDAQ:TRMK)

Vanguard Group Inc. raised its position in Trustmark Co. (NASDAQ:TRMK) by 0.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 6,712,905 shares of the financial services provider’s stock after acquiring an additional 50,795 shares during the period. Vanguard Group Inc. owned approximately 0.11% of Trustmark worth $187,156,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP bought a new stake in Trustmark during the 4th quarter valued at $12,572,000. Verition Fund Management LLC bought a new stake in shares of Trustmark during the fourth quarter worth about $5,611,000. Rafferty Asset Management LLC increased its position in shares of Trustmark by 79.2% during the fourth quarter. Rafferty Asset Management LLC now owns 68,202 shares of the financial services provider’s stock worth $1,901,000 after acquiring an additional 30,134 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its holdings in shares of Trustmark by 14.9% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 13,989 shares of the financial services provider’s stock worth $390,000 after acquiring an additional 1,812 shares during the last quarter. Finally, Elizabeth Park Capital Advisors Ltd. bought a new position in Trustmark in the 4th quarter valued at about $1,592,000. Institutional investors own 67.64% of the company’s stock.

Wall Street Analysts Forecast Growth

TRMK has been the subject of several analyst reports. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a research note on Saturday, April 27th. Piper Sandler restated a “neutral” rating and set a $29.00 price objective on shares of Trustmark in a research note on Tuesday, March 26th. Truist Financial upped their target price on shares of Trustmark from $30.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Keefe, Bruyette & Woods raised shares of Trustmark from a “market perform” rating to an “outperform” rating and raised their price target for the company from $30.00 to $36.00 in a research report on Thursday, April 25th. Finally, DA Davidson upped their price objective on shares of Trustmark from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $32.75.

Trustmark Trading Up 0.7 %

Shares of Trustmark stock opened at $29.91 on Wednesday. The firm has a market cap of $1.83 billion, a PE ratio of 11.64 and a beta of 0.75. Trustmark Co. has a 1 year low of $18.96 and a 1 year high of $31.23. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a fifty day moving average price of $29.48 and a 200-day moving average price of $27.89.

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

Trustmark Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.08%. The ex-dividend date was Friday, May 31st. Trustmark’s dividend payout ratio (DPR) 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.