Trustmark Corporation $TRMK Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its holdings in shares of Trustmark Corporation (NASDAQ:TRMK) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,317,834 shares of the financial services provider’s stock after selling 129,146 shares during the period. Vanguard Group Inc. owned approximately 0.11% of Trustmark worth $246,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in TRMK. Royal Bank of Canada increased its position in Trustmark by 27.0% during the 1st quarter. Royal Bank of Canada now owns 22,127 shares of the financial services provider’s stock valued at $764,000 after buying an additional 4,701 shares in the last quarter. AQR Capital Management LLC increased its position in Trustmark by 230.8% during 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 buying an additional 67,841 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in 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 buying an additional 1,592 shares in 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 valued at $6,817,000 after buying 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 valued at $16,236,000 after buying an additional 69,110 shares in the last quarter. 67.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Trustmark Stock Down 0.4%

Shares of TRMK opened at $44.73 on Friday. Trustmark Corporation has a 52 week low of $33.39 and a 52 week high of $45.99. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 11.83 and a beta of 0.66. The stock’s 50-day moving average price is $43.23 and its 200-day moving average price is $41.36.

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

Trustmark Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a dividend of $0.25 per share. The ex-dividend date is Monday, June 1st. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. Trustmark’s dividend payout ratio is currently 26.46%.

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.