BTG Pactual Asset Management US LLC Invests $538,000 in Trustmark Corporation $TRMK

BTG Pactual Asset Management US LLC bought a new position in shares of Trustmark Corporation (NASDAQ:TRMK) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 11,689 shares of the financial services provider’s stock, valued at approximately $538,000.

A number of other large investors have also added to or reduced their stakes in the business. Royal Bank of Canada boosted its position in Trustmark by 27.0% during the first quarter. Royal Bank of Canada now owns 22,127 shares of the financial services provider’s stock worth $764,000 after purchasing an additional 4,701 shares during the period. AQR Capital Management LLC boosted its stake in shares of Trustmark by 230.8% in the 1st quarter. AQR Capital Management LLC now owns 97,234 shares of the financial services provider’s stock valued at $3,327,000 after purchasing an additional 67,841 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Trustmark by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,217 shares of the financial services provider’s stock valued at $1,249,000 after purchasing an additional 1,592 shares during the last quarter. Millennium Management LLC increased its position in Trustmark by 12.4% during the 1st quarter. Millennium Management LLC now owns 197,652 shares of the financial services provider’s stock worth $6,817,000 after purchasing an additional 21,866 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Trustmark by 17.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 470,756 shares of the financial services provider’s stock worth $16,236,000 after purchasing an additional 69,110 shares in the last quarter. Institutional investors own 67.64% of the company’s stock.

Trustmark Stock Performance

Trustmark stock opened at $45.92 on Tuesday. The business has a 50 day moving average of $46.81 and a 200-day moving average of $44.80. The company has a market capitalization of $2.67 billion, a P/E ratio of 11.65 and a beta of 0.65. Trustmark Corporation has a 1 year low of $36.33 and a 1 year high of $49.00. 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 (NASDAQ:TRMK) last posted its earnings results on Tuesday, July 28th. The financial services provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. Trustmark had a net margin of 20.75% and a return on equity of 10.69%. The business had revenue of $213.38 million for the quarter, compared to the consensus estimate of $210.30 million. During the same period last year, the company earned $0.92 EPS. The firm’s revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts predict that Trustmark Corporation will post 3.93 earnings per share for the current year.

Trustmark Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.00 annualized dividend and a dividend yield of 2.2%. Trustmark’s dividend payout ratio (DPR) is presently 25.38%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TRMK shares. DA Davidson raised their target price on shares of Trustmark from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Wall Street Zen upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Weiss Ratings upgraded Trustmark from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, August 14th. Finally, Piper Sandler raised their price objective on Trustmark from $45.50 to $47.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Trustmark presently has an average rating of “Hold” and a consensus price target of $46.12.

About Trustmark

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.