Victory Capital Management Inc. Has $833,000 Stock Position in Trustmark Co. (NASDAQ:TRMK)

Victory Capital Management Inc. trimmed its position in shares of Trustmark Co. (NASDAQ:TRMK - Free Report) by 86.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,718 shares of the financial services provider's stock after selling 176,764 shares during the quarter. Victory Capital Management Inc.'s holdings in Trustmark were worth $833,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TRMK. GAMMA Investing LLC raised its holdings in Trustmark by 62.1% during the second quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 351 shares during the period. EntryPoint Capital LLC purchased a new position in Trustmark in the first quarter valued at about $52,000. Innealta Capital LLC purchased a new stake in shares of Trustmark during the 2nd quarter valued at $61,000. CWM LLC boosted its stake in Trustmark by 14.6% in the 2nd quarter. CWM LLC now owns 4,783 shares of the financial services provider's stock worth $144,000 after purchasing an additional 611 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. acquired a new stake in shares of Trustmark during the second quarter worth about $238,000. 67.64% of the stock is owned by hedge funds and other institutional investors.

Trustmark Stock Down 2.6 %

Trustmark stock traded down $0.88 during trading on Friday, reaching $32.72. 1,075,624 shares of the company's stock were exchanged, compared to its average volume of 280,960. The company's 50-day moving average is $32.63 and its two-hundred day moving average is $29.93. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 12.73 and a beta of 0.74. Trustmark Co. has a 52-week low of $18.96 and a 52-week high of $35.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 0.87.

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 analysts' consensus estimates of $0.63 by $0.03. Trustmark had a return on equity of 9.32% and a net margin of 16.24%. The company had revenue of $283.96 million for the quarter, compared to analyst estimates of $229.83 million. During the same period in the prior year, the company posted $0.74 EPS. On average, analysts predict that Trustmark Co. will post 2.93 earnings per share for the current year.

Trustmark Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Friday, August 30th. Trustmark's dividend payout ratio (DPR) is presently 35.80%.

Analysts Set New Price Targets

Several brokerages have commented on TRMK. Truist Financial dropped their price objective on Trustmark from $37.00 to $35.00 and set a "hold" rating on the stock in a report on Friday. DA Davidson boosted their target price on Trustmark from $34.00 to $38.00 and gave the stock a "neutral" rating in a research note on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $34.50.

Trustmark Company Profile

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.