Earnest Partners LLC Boosts Position in Trustmark Co. (NASDAQ:TRMK)

Earnest Partners LLC boosted its position in Trustmark Co. (NASDAQ:TRMK - Free Report) by 3.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,442,019 shares of the financial services provider's stock after purchasing an additional 102,268 shares during the period. Earnest Partners LLC owned about 5.62% of Trustmark worth $103,398,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in Trustmark by 62.1% in the 2nd quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider's stock worth $28,000 after buying an additional 351 shares during the period. EntryPoint Capital LLC purchased a new position in Trustmark during the first quarter valued at approximately $52,000. Innealta Capital LLC bought a new position in Trustmark in the 2nd quarter valued at $61,000. CWM LLC boosted its holdings in Trustmark by 14.6% in the 2nd quarter. CWM LLC now owns 4,783 shares of the financial services provider's stock valued at $144,000 after purchasing an additional 611 shares during the period. Finally, ZWJ Investment Counsel Inc. purchased a new position in shares of Trustmark during the 2nd quarter valued at $238,000. 67.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on TRMK. Truist Financial reduced their target price on Trustmark from $37.00 to $35.00 and set a "hold" rating for the company in a research report on Friday, September 20th. DA Davidson increased their price target on shares of Trustmark from $34.00 to $38.00 and gave the stock a "neutral" rating in a report on Thursday, July 25th. Finally, StockNews.com cut Trustmark from a "hold" rating to a "sell" rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $34.50.

Trustmark Stock Up 0.5 %

TRMK traded up $0.17 during trading on Thursday, reaching $31.59. The stock had a trading volume of 167,262 shares, compared to its average volume of 280,019. 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 company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 12.29 and a beta of 0.74. The stock's 50 day moving average is $32.50 and its two-hundred day moving average is $30.04. Trustmark Co. has a one year low of $18.96 and a one year high of $35.72.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.66 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $229.83 million. During the same quarter in the previous year, the firm posted $0.74 earnings per share. As a group, analysts expect that Trustmark Co. will post 2.92 earnings per share for the current year.

Trustmark Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.91%. Trustmark's dividend payout ratio is presently 35.80%.

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.