Dimensional Fund Advisors LP Raises Position in Trustmark Co. (NASDAQ:TRMK)

Dimensional Fund Advisors LP grew its stake in shares of Trustmark Co. (NASDAQ:TRMK - Free Report) by 1.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,050,787 shares of the financial services provider's stock after acquiring an additional 64,334 shares during the period. Dimensional Fund Advisors LP owned 6.62% of Trustmark worth $121,683,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Trustmark in the fourth quarter worth approximately $10,992,000. Hsbc Holdings PLC bought a new stake in Trustmark in the 4th quarter worth $8,215,000. Connable Office Inc. purchased a new position in Trustmark during the 4th quarter valued at about $446,000. Elizabeth Park Capital Advisors Ltd. bought a new position in shares of Trustmark during the fourth quarter valued at approximately $1,592,000. Finally, Campbell & CO Investment Adviser LLC lifted its position in shares of Trustmark by 14.9% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 13,989 shares of the financial services provider's stock worth $390,000 after purchasing an additional 1,812 shares during the period. 67.64% of the stock is owned by institutional investors.

Trustmark Stock Down 0.7 %

Shares of Trustmark stock traded down $0.24 during midday trading on Monday, hitting $32.48. The company had a trading volume of 253,460 shares, compared to its average volume of 280,948. 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. The company has a 50 day moving average of $32.63 and a 200 day moving average of $29.95. The stock has a market capitalization of $1.99 billion, a P/E ratio of 12.64 and a beta of 0.74.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its earnings results on Tuesday, July 23rd. The financial services provider reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.03. The business had revenue of $283.96 million during the quarter, compared to analyst estimates of $229.83 million. Trustmark had a return on equity of 9.32% and a net margin of 16.24%. During the same quarter last year, the company earned $0.74 EPS. On average, equities analysts predict that Trustmark Co. will post 2.93 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Friday, August 30th. Trustmark's payout ratio is currently 35.80%.

Analyst Upgrades and Downgrades

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

Trustmark 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.