Stieven Capital Advisors L.P. lessened its holdings in shares of Trustmark Co. (NASDAQ:TRMK - Free Report) by 31.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 346,807 shares of the financial services provider's stock after selling 156,193 shares during the quarter. Trustmark comprises approximately 2.3% of Stieven Capital Advisors L.P.'s portfolio, making the stock its 16th biggest holding. Stieven Capital Advisors L.P. owned 0.57% of Trustmark worth $10,418,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. State Board of Administration of Florida Retirement System lifted its stake in shares of Trustmark by 101.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 35,048 shares of the financial services provider's stock valued at $985,000 after buying an additional 17,670 shares in the last quarter. Rafferty Asset Management LLC boosted its holdings in shares of Trustmark by 79.2% in the fourth quarter. Rafferty Asset Management LLC now owns 68,202 shares of the financial services provider's stock worth $1,901,000 after acquiring an additional 30,134 shares during the period. Wakefield Asset Management LLLP purchased a new position in shares of Trustmark in the first quarter valued at $949,000. Kennedy Capital Management LLC bought a new stake in shares of Trustmark during the 1st quarter valued at $2,604,000. Finally, Wellington Management Group LLP purchased a new stake in Trustmark during the 4th quarter worth about $12,572,000. Hedge funds and other institutional investors own 67.64% of the company's stock.
Trustmark Price Performance
Shares of TRMK traded up $0.23 during trading hours on Friday, reaching $33.31. 200,821 shares of the company's stock traded hands, compared to its average volume of 234,544. Trustmark Co. has a 12 month low of $18.96 and a 12 month high of $35.72. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. The stock has a market cap of $2.04 billion, a PE ratio of 12.96 and a beta of 0.75. The firm's 50 day simple moving average is $31.82 and its 200-day simple moving average is $29.36.
Trustmark (NASDAQ:TRMK - Get Free Report) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.03. Trustmark had a net margin of 16.24% and a return on equity of 9.32%. The business had revenue of $283.96 million during the quarter, compared to analyst estimates of $229.83 million. During the same period in the previous year, the business posted $0.74 earnings per share. Equities analysts expect that Trustmark Co. will post 2.37 EPS for the current year.
Trustmark Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Investors of record on Sunday, September 1st will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.92 annualized dividend and a yield of 2.76%. Trustmark's dividend payout ratio (DPR) is presently 35.80%.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on TRMK shares. DA Davidson lifted their target price on Trustmark from $34.00 to $38.00 and gave the company a "neutral" rating in a report on Thursday, July 25th. Truist Financial upped their target price on shares of Trustmark from $31.00 to $37.00 and gave the stock a "hold" rating in a report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Trustmark presently has an average rating of "Hold" and an average target price of $35.00.
Read Our Latest Analysis on TRMK
About Trustmark
(
Free Report)
Trustmark Corporation operates as the bank holding company for Trustmark National Bank that provides banking and other financial solutions to individuals and corporate institutions in the United States. The company operates through three segments: General Banking, Wealth Management, and Insurance. It offers checking, savings, and money market accounts; certificates of deposits and individual retirement accounts; financing for commercial and industrial projects, income-producing commercial real estate, owner-occupied real estate, and construction and land development; and installment and real estate loans, and lines of credit, as well as treasury management services.
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