Bridgeway Capital Management LLC Grows Stock Position in Trustmark Corporation $TRMK

Bridgeway Capital Management LLC boosted its stake in Trustmark Corporation (NASDAQ:TRMK) by 156.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 389,333 shares of the financial services provider’s stock after acquiring an additional 237,266 shares during the quarter. Bridgeway Capital Management LLC owned about 0.65% of Trustmark worth $15,165,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in TRMK. UBS Group AG raised its position in shares of Trustmark by 282.0% in the 4th quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock valued at $24,944,000 after purchasing an additional 472,751 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Trustmark by 8.9% in the 3rd quarter. Wellington Management Group LLP now owns 3,883,882 shares of the financial services provider’s stock valued at $153,802,000 after purchasing an additional 316,851 shares in the last quarter. American Century Companies Inc. raised its position in shares of Trustmark by 30.5% in the 3rd quarter. American Century Companies Inc. now owns 564,180 shares of the financial services provider’s stock valued at $22,342,000 after purchasing an additional 132,023 shares in the last quarter. Empowered Funds LLC raised its position in shares of Trustmark by 107.6% in the 4th quarter. Empowered Funds LLC now owns 245,602 shares of the financial services provider’s stock valued at $9,566,000 after purchasing an additional 127,284 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Trustmark by 80.4% in the 3rd quarter. Bank of America Corp DE now owns 267,147 shares of the financial services provider’s stock valued at $10,579,000 after purchasing an additional 119,044 shares in the last quarter. 67.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TRMK shares. Weiss Ratings raised Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 1st. Wall Street Zen raised Trustmark from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Brean Capital started coverage on Trustmark in a research report on Thursday, March 12th. They issued a “buy” rating on the stock. Piper Sandler upped their target price on Trustmark from $44.00 to $45.50 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $45.00 target price on shares of Trustmark in a research report on Thursday, April 9th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $44.75.

Trustmark Price Performance

Shares of NASDAQ TRMK opened at $44.31 on Thursday. Trustmark Corporation has a 1-year low of $33.39 and a 1-year high of $46.34. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.87. The business’s fifty day moving average price is $44.46 and its two-hundred day moving average price is $42.61. The firm has a market capitalization of $2.60 billion, a PE ratio of 11.72 and a beta of 0.65.

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

Trustmark Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.00 annualized dividend and a dividend yield of 2.3%. Trustmark’s dividend payout ratio is presently 26.46%.

Trustmark Company Profile

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.