Deutsche Bank AG Purchases Shares of 58,236 Trustmark Corporation $TRMK

Deutsche Bank AG bought a new stake in Trustmark Corporation (NASDAQ:TRMK) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 58,236 shares of the financial services provider’s stock, valued at approximately $2,679,000.

Several other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of Trustmark by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,897,556 shares of the financial services provider’s stock worth $164,244,000 after purchasing an additional 20,628 shares during the period. Wellington Management Group LLP increased its position 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 acquiring an additional 316,851 shares in the last quarter. North Reef Capital Management LP purchased a new stake in Trustmark during the first quarter worth about $82,296,000. Geode Capital Management LLC lifted its stake in shares of Trustmark by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 1,491,837 shares of the financial services provider’s stock valued at $58,112,000 after buying an additional 9,198 shares in the last quarter. Finally, UBS Group AG increased its position in shares of Trustmark by 282.0% during the fourth 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 period. 67.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TRMK. Weiss Ratings raised Trustmark from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, August 14th. 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. Wall Street Zen raised shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Finally, DA Davidson boosted their target price on Trustmark from $46.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $46.12.

Trustmark Stock Performance

Shares of NASDAQ:TRMK opened at $46.23 on Friday. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 11.73 and a beta of 0.65. 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 firm has a 50 day moving average of $46.76 and a 200 day moving average of $44.77. Trustmark Corporation has a 52 week low of $36.33 and a 52 week high of $49.00.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The business had revenue of $213.38 million for the quarter, compared to analyst estimates of $210.30 million. Trustmark had a net margin of 20.75% and a return on equity of 10.69%. Trustmark’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.92 EPS. On average, sell-side analysts predict that Trustmark Corporation will post 3.93 earnings per share for the current fiscal year.

Trustmark Announces Dividend

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