Royce & Associates LP Purchases Shares of 12,865 Trustmark Corporation $TRMK

Royce & Associates LP purchased a new stake in shares of Trustmark Corporation (NASDAQ:TRMK) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 12,865 shares of the financial services provider’s stock, valued at approximately $501,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Blue Trust Inc. acquired a new position in shares of Trustmark during the fourth quarter worth $31,000. Bessemer Group Inc. lifted its position in shares of Trustmark by 37.4% during the third quarter. Bessemer Group Inc. now owns 1,073 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 292 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Trustmark by 452.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 1,022 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Trustmark by 24.1% during the third quarter. IFP Advisors Inc now owns 1,375 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 267 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Trustmark during the fourth quarter worth $76,000. 67.64% of the stock is owned by institutional investors and hedge funds.

Trustmark Price Performance

TRMK stock opened at $44.16 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.87. Trustmark Corporation has a 1-year low of $33.39 and a 1-year high of $45.99. The firm has a fifty day moving average price of $43.83 and a two-hundred day moving average price of $42.05. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 11.68 and a beta of 0.65.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, April 28th. The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.08. Trustmark had a net margin of 20.12% and a return on equity of 10.74%. The firm had revenue of $208.07 million during the quarter, compared to analyst estimates of $204.98 million. During the same quarter in the previous year, the firm earned $0.88 earnings per share. Research analysts predict that Trustmark Corporation will post 3.92 EPS for the current year.

Trustmark Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, June 1st. This represents a $1.00 annualized dividend and a yield of 2.3%. Trustmark’s payout ratio is presently 26.46%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TRMK. DA Davidson reissued a “neutral” rating and set a $44.00 target price on shares of Trustmark in a research report on Wednesday, April 29th. Wall Street Zen raised shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $45.00 target price on shares of Trustmark in a research report on Thursday, April 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Trustmark in a research report on Monday, May 4th. Finally, Piper Sandler boosted their target price on shares of Trustmark from $44.00 to $45.50 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus 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.