Trustmark Corporation $TRMK Position Boosted by AlphaQuest LLC

AlphaQuest LLC grew its holdings in shares of Trustmark Corporation (NASDAQ:TRMK) by 52.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 65,095 shares of the financial services provider’s stock after purchasing an additional 22,432 shares during the period. AlphaQuest LLC’s holdings in Trustmark were worth $2,535,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Royce & Associates LP bought a new position in shares of Trustmark during the 4th quarter valued at about $501,000. Ameritas Advisory Services LLC acquired a new position in shares of Trustmark in the fourth quarter worth about $350,000. GRIMES & Co WEALTH MANAGEMENT LLC acquired a new position in shares of Trustmark in the fourth quarter worth about $811,000. Horizon Investments LLC acquired a new position in shares of Trustmark in the fourth quarter worth about $1,185,000. Finally, Barnes Pettey Financial Advisors LLC boosted its holdings in shares of Trustmark by 4.1% in the fourth quarter. Barnes Pettey Financial Advisors LLC now owns 11,336 shares of the financial services provider’s stock worth $442,000 after buying an additional 450 shares during the period. Institutional investors own 67.64% of the company’s stock.

Analysts Set New Price Targets

TRMK has been the subject of several recent analyst reports. Hovde Group raised their target price on shares of Trustmark from $42.00 to $44.50 and gave the stock a “market perform” rating in a report on Thursday, January 29th. Piper Sandler increased their price target on shares of Trustmark from $44.00 to $45.50 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $45.00 price target on shares of Trustmark in a research report on Thursday, April 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Trustmark in a research report on Monday, May 4th. Finally, DA Davidson reissued a “neutral” rating and issued a $44.00 price target on shares of Trustmark in a research report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Trustmark has a consensus rating of “Hold” and an average price target of $44.75.

Trustmark Price Performance

Shares of TRMK opened at $44.78 on Wednesday. The firm has a market cap of $2.62 billion, a PE ratio of 11.85 and a beta of 0.66. The firm’s 50 day moving average price is $43.64 and its 200 day moving average price is $41.92. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.89. Trustmark Corporation has a twelve month low of $33.39 and a twelve month high of $45.99.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. Trustmark had a net margin of 20.12% and a return on equity of 10.74%. The company had revenue of $208.07 million for the quarter, compared to analyst estimates of $204.98 million. During the same quarter last year, the firm posted $0.88 earnings per share. As a group, research analysts expect that Trustmark Corporation will post 3.92 EPS for the current fiscal year.

Trustmark Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.2%. Trustmark’s dividend payout ratio (DPR) is currently 26.46%.

About Trustmark

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.