Jefferies Financial Group Inc. Makes New Investment in Trustmark Corporation $TRMK

Jefferies Financial Group Inc. bought a new position in shares of Trustmark Corporation (NASDAQ:TRMK) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 17,357 shares of the financial services provider’s stock, valued at approximately $799,000.

A number of other large investors have also recently made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new position in shares of Trustmark in the second quarter worth about $39,000. Bank of America Corp DE bought a new stake in Trustmark during the 2nd quarter valued at about $9,323,000. Magnolia Capital Advisors LLC purchased a new stake in Trustmark in the 2nd quarter valued at about $7,062,000. Jupiter Topco LLC purchased a new stake in Trustmark in the 2nd quarter valued at about $1,155,000. Finally, Hsbc Holdings PLC bought a new position in Trustmark in the 2nd quarter worth about $1,153,000. 67.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TRMK has been the topic of a number of research reports. Piper Sandler raised their target price on shares of Trustmark from $45.50 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. DA Davidson boosted their price target on Trustmark from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Wall Street Zen raised Trustmark from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Finally, Weiss Ratings upgraded Trustmark from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, August 14th. One equities research 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 stock. According to MarketBeat.com, Trustmark has a consensus rating of “Hold” and an average price target of $46.12.

Trustmark Price Performance

NASDAQ:TRMK opened at $46.27 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 $36.33 and a 1-year high of $49.00. The company has a 50-day moving average of $46.79 and a 200 day moving average of $44.79. The firm has a market cap of $2.69 billion, a PE ratio of 11.74 and a beta of 0.65.

Trustmark (NASDAQ:TRMK) last posted its earnings results on Tuesday, July 28th. The financial services provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates 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 quarter last year, the firm posted $0.92 EPS. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, research analysts anticipate that Trustmark Corporation will post 3.93 EPS for the current fiscal year.

Trustmark Dividend Announcement

The firm also recently disclosed 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 is Tuesday, September 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.2%. Trustmark’s dividend payout ratio (DPR) is currently 25.38%.

Trustmark Company 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.