Trustmark Corporation $TRMK Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its stake in shares of Trustmark Corporation (NASDAQ:TRMK) by 0.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,897,556 shares of the financial services provider’s stock after acquiring an additional 20,628 shares during the period. Dimensional Fund Advisors LP owned about 6.62% of Trustmark worth $164,244,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Blue Trust Inc. acquired a new position in shares of Trustmark in the 4th quarter valued at $31,000. Rockefeller Capital Management L.P. raised its holdings in Trustmark by 1,129.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 848 shares of the financial services provider’s stock worth $33,000 after buying an additional 779 shares during the period. Meeder Asset Management Inc. acquired a new stake in Trustmark during the 4th quarter worth about $36,000. EverSource Wealth Advisors LLC lifted its stake in Trustmark by 452.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock valued at $46,000 after buying an additional 1,022 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake in Trustmark by 24.1% during the third quarter. IFP Advisors Inc now owns 1,375 shares of the financial services provider’s stock valued at $54,000 after buying an additional 267 shares in the last quarter. 67.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TRMK has been the topic of several analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $45.00 target price on shares of Trustmark in a research report on Thursday, April 9th. DA Davidson restated a “neutral” rating and issued a $44.00 price target on shares of Trustmark in a research report on Wednesday, April 29th. Piper Sandler raised their price objective on shares of Trustmark from $44.00 to $45.50 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Wall Street Zen raised shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings upgraded shares of Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 1st. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $44.75.

Trustmark Stock Performance

TRMK stock opened at $46.61 on Friday. The firm has a 50 day simple moving average of $45.36 and a 200 day simple moving average of $43.78. Trustmark Corporation has a 52 week low of $36.05 and a 52 week high of $48.00. The stock has a market cap of $2.73 billion, a P/E ratio of 12.33 and a beta of 0.65. 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 (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.08. Trustmark had a net margin of 20.12% and a return on equity of 10.74%. The firm had revenue of $208.07 million for the quarter, compared to analyst estimates of $204.98 million. During the same quarter in the prior year, the business earned $0.88 EPS. Research analysts anticipate that Trustmark Corporation will post 3.92 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 2.1%. Trustmark’s dividend payout ratio is 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.