AQR Capital Management LLC Has $950,000 Position in Trustmark Co. (NASDAQ:TRMK)

AQR Capital Management LLC cut its holdings in Trustmark Co. (NASDAQ:TRMK) by 40.4% during the second quarter, Holdings Channel.com reports. The fund owned 32,180 shares of the financial services provider’s stock after selling 21,772 shares during the period. AQR Capital Management LLC’s holdings in Trustmark were worth $950,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP acquired a new position in shares of Trustmark in the 4th quarter valued at $12,572,000. American Century Companies Inc. boosted its holdings in Trustmark by 25.3% during the second quarter. American Century Companies Inc. now owns 986,322 shares of the financial services provider’s stock worth $29,629,000 after buying an additional 199,245 shares during the last quarter. Stieven Capital Advisors L.P. boosted its holdings in Trustmark by 57.2% during the first quarter. Stieven Capital Advisors L.P. now owns 503,000 shares of the financial services provider’s stock worth $14,139,000 after buying an additional 183,100 shares during the last quarter. Hanson & Doremus Investment Management acquired a new position in shares of Trustmark during the 2nd quarter worth about $4,199,000. Finally, Kennedy Capital Management LLC bought a new stake in shares of Trustmark in the 1st quarter valued at about $2,604,000. Institutional investors and hedge funds own 67.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TRMK. StockNews.com lowered shares of Trustmark from a “hold” rating to a “sell” rating in a research note on Wednesday. DA Davidson lifted their price target on shares of Trustmark from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Finally, Truist Financial lowered their price objective on shares of Trustmark from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Trustmark currently has an average rating of “Hold” and an average target price of $34.50.

Trustmark Price Performance

NASDAQ TRMK opened at $32.96 on Friday. 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 52-week low of $18.96 and a 52-week high of $35.72. The business has a 50 day simple moving average of $31.98 and a 200 day simple moving average of $30.48. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 12.82 and a beta of 0.73.

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 analysts’ consensus estimates of $0.63 by $0.03. The business had revenue of $283.96 million for the quarter, compared to analyst estimates of $229.83 million. Trustmark had a net margin of 16.24% and a return on equity of 9.32%. During the same period last year, the business posted $0.74 earnings per share. Analysts anticipate that Trustmark Co. will post 2.92 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were paid a $0.23 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.92 dividend on an annualized basis and a yield of 2.79%. Trustmark’s dividend payout ratio is 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.