Louisiana State Employees Retirement System Purchases Shares of 26,200 Trustmark Corporation $TRMK

Louisiana State Employees Retirement System purchased a new stake in Trustmark Corporation (NASDAQ:TRMK) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 26,200 shares of the financial services provider’s stock, valued at approximately $1,104,000.

A number of other institutional investors have also made changes to their positions in TRMK. UBS Group AG grew its holdings in Trustmark by 282.0% in the 4th quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock valued at $24,944,000 after buying an additional 472,751 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Trustmark by 8.9% during the third quarter. Wellington Management Group LLP now owns 3,883,882 shares of the financial services provider’s stock worth $153,802,000 after buying an additional 316,851 shares during the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of Trustmark by 156.0% during the fourth quarter. Bridgeway Capital Management LLC now owns 389,333 shares of the financial services provider’s stock worth $15,165,000 after buying an additional 237,266 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Trustmark by 30.5% in the third quarter. American Century Companies Inc. now owns 564,180 shares of the financial services provider’s stock valued at $22,342,000 after acquiring an additional 132,023 shares during the period. Finally, Empowered Funds LLC boosted its position in shares of Trustmark by 107.6% in the fourth quarter. Empowered Funds LLC now owns 245,602 shares of the financial services provider’s stock valued at $9,566,000 after acquiring an additional 127,284 shares during the period. 67.64% of the stock is currently owned by institutional investors.

Trustmark Price Performance

Shares of NASDAQ:TRMK opened at $46.38 on Friday. The firm has a market capitalization of $2.72 billion, a PE ratio of 12.27 and a beta of 0.65. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11. Trustmark Corporation has a 1-year low of $36.05 and a 1-year high of $47.44. The business’s 50 day moving average is $44.76 and its 200-day moving average is $43.12.

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

Trustmark Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.25 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.2%. Trustmark’s dividend payout ratio is currently 26.46%.

Wall Street Analysts Forecast Growth

TRMK has been the topic of several research analyst reports. DA Davidson reaffirmed a “neutral” rating and set a $44.00 target price on shares of Trustmark in a research report on Wednesday, April 29th. Weiss Ratings raised shares of Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, June 1st. Wall Street Zen upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Brean Capital began coverage on shares of Trustmark in a report on Thursday, March 12th. They set a “buy” rating on the stock. Finally, Piper Sandler upped their price objective on shares of Trustmark from $44.00 to $45.50 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $44.75.

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.