Victory Capital Management Inc. Cuts Stock Position in Trustmark Co. (NASDAQ:TRMK)

Victory Capital Management Inc. cut its holdings in Trustmark Co. (NASDAQ:TRMK) by 86.4% in the second quarter, Holdings Channel reports. The institutional investor owned 27,718 shares of the financial services provider’s stock after selling 176,764 shares during the quarter. Victory Capital Management Inc.’s holdings in Trustmark were worth $833,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TRMK. Norges Bank purchased a new stake in shares of Trustmark in the fourth quarter valued at approximately $10,992,000. Hsbc Holdings PLC purchased a new stake in shares of Trustmark during the fourth quarter worth approximately $8,215,000. Connable Office Inc. purchased a new stake in shares of Trustmark during the fourth quarter worth approximately $446,000. Elizabeth Park Capital Advisors Ltd. purchased a new stake in shares of Trustmark during the fourth quarter worth approximately $1,592,000. Finally, Campbell & CO Investment Adviser LLC increased its position in shares of Trustmark by 14.9% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 13,989 shares of the financial services provider’s stock worth $390,000 after purchasing an additional 1,812 shares in the last quarter. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Trustmark Stock Performance

NASDAQ TRMK opened at $32.72 on Friday. The stock’s fifty day moving average is $32.63 and its two-hundred day moving average is $29.93. The firm has a market capitalization of $2.00 billion, a P/E ratio of 12.73 and a beta of 0.74. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 0.87. Trustmark Co. has a fifty-two week low of $18.96 and a fifty-two week high of $35.72.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. The company had revenue of $283.96 million for the quarter, compared to analyst estimates of $229.83 million. Trustmark had a return on equity of 9.32% and a net margin of 16.24%. During the same quarter in the previous year, the company posted $0.74 earnings per share. On average, research analysts anticipate that Trustmark Co. will post 2.93 earnings per share for the current year.

Trustmark Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were paid 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 (DPR) is currently 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.