26,200 Shares in Trustmark Corporation $TRMK Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new position in shares of Trustmark Corporation (NASDAQ:TRMK) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 26,200 shares of the financial services provider’s stock, valued at approximately $1,104,000.

Other large investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its position in shares of Trustmark by 9.0% in the first quarter. SG Americas Securities LLC now owns 39,611 shares of the financial services provider’s stock worth $1,669,000 after buying an additional 3,258 shares during the period. Hsbc Holdings PLC acquired a new position in Trustmark during the fourth quarter valued at $898,000. Rockefeller Capital Management L.P. raised its position in Trustmark by 1,129.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 848 shares of the financial services provider’s stock valued at $33,000 after buying an additional 779 shares during the period. Mercer Global Advisors Inc. ADV lifted its stake in Trustmark by 9.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 12,393 shares of the financial services provider’s stock worth $483,000 after acquiring an additional 1,090 shares in the last quarter. Finally, EP Wealth Advisors LLC acquired a new stake in Trustmark during the 4th quarter worth about $207,000. 67.64% of the stock is owned by institutional investors and hedge funds.

Trustmark Stock Performance

TRMK opened at $46.38 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.89. The company has a market cap of $2.72 billion, a PE ratio of 12.27 and a beta of 0.65. The stock has a 50-day moving average of $44.76 and a 200-day moving average of $43.12. Trustmark Corporation has a 52-week low of $36.05 and a 52-week high of $47.44.

Trustmark (NASDAQ:TRMK) last posted 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. The firm had revenue of $208.07 million during the quarter, compared to analyst estimates of $204.98 million. Trustmark had a return on equity of 10.74% and a net margin of 20.12%.During the same period in the previous year, the company earned $0.88 EPS. As a group, equities research analysts forecast that Trustmark Corporation will post 3.92 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Monday, June 1st. Trustmark’s payout ratio is presently 26.46%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TRMK. Weiss Ratings raised Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, June 1st. Piper Sandler raised their price target on shares of Trustmark from $44.00 to $45.50 and gave the stock a “neutral” rating in a report on Thursday, April 30th. DA Davidson reaffirmed a “neutral” rating and set a $44.00 price objective on shares of Trustmark in a research report on Wednesday, April 29th. Wall Street Zen upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Brean Capital assumed coverage on shares of Trustmark in a research report on Thursday, March 12th. They issued a “buy” rating for the company. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $44.75.

Trustmark 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.