Price T Rowe Associates Inc. MD increased its position in Trustmark Co. (NASDAQ:TRMK – Free Report) by 4.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,070 shares of the financial services provider after acquiring an additional 2,109 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.08% of Trustmark valued at $1,296,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. EntryPoint Capital LLC acquired a new stake in shares of Trustmark during the first quarter valued at approximately $52,000. Russell Investments Group Ltd. acquired a new position in shares of Trustmark during the first quarter valued at approximately $240,000. Element Wealth LLC acquired a new stake in shares of Trustmark during the fourth quarter valued at approximately $246,000. Everence Capital Management Inc. acquired a new position in shares of Trustmark during the first quarter valued at approximately $259,000. Finally, Resolute Wealth Strategies LLC acquired a new position in shares of Trustmark during the fourth quarter valued at $257,000. 67.64% of the shares are currently owned by institutional investors and hedge funds.
Trustmark share price development
Trustmark shares opened at $31.14 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.91 billion, a P/E ratio of 12.12 and a beta of 0.75. The company’s 50-day moving average is $30.69 and its 200-day moving average is $28.83. Trustmark Co. has a 52-week low of $18.96 and a 52-week high of $35.72.
Trustmark (NASDAQ:TRMK – Free Report) released its latest earnings results on Tuesday, July 23. The financial services provider reported earnings per share (EPS) of $0.66 for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. The company had revenue of $283.96 million for the quarter, compared to analyst expectations of $229.83 million. Trustmark had a return on equity of 9.32% and a net margin of 16.24%. During the same quarter last year, the company posted earnings per share of $0.74. Research analysts forecast that Trustmark Co. will report earnings per share of $2.37 for the current fiscal year.
Trustmark Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Sunday, September 15th. Investors of record on Sunday, September 1st will receive a dividend of $0.23. This represents an annualized dividend of $0.92 and a yield of 2.95%. The ex-dividend date is Friday, August 30th. Trustmark’s dividend payout ratio is currently 35.80%.
Upgrades and downgrades by analysts
Several brokerage firms have recently commented on TRMK. Keefe, Bruyette & Woods upgraded Trustmark from “market perform” to “outperform” and raised their price target on the stock from $30.00 to $36.00 in a report on Thursday, April 25th. Truist Financial raised their price target on Trustmark from $31.00 to $37.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. StockNews.com upgraded Trustmark from “sell” to “hold” in a research report on Saturday, April 27th. Finally, DA Davidson raised their price target on Trustmark from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and one has given the company a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $35.00.
Check out our latest stock analysis on Trustmark
Trustmark Company Profile
(Free report)
Trustmark Corporation is the bank holding company for Trustmark National Bank, which provides banking and other financial solutions to individual and commercial customers in the United States. The company operates in three segments: General Banking, Wealth Management and Insurance. It offers checking, savings and money market accounts, certificates of deposit and individual retirement accounts, financing for commercial and industrial projects, income-producing commercial real estate, owner-occupied real estate and construction and land development, installment and real estate loans, and lines of credit and treasury management services.
More information
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