Trustmark Corporation $TRMK Shares Newly Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Trustmark Corporation (NASDAQ:TRMK) in the third quarter, HoldingsChannel reports. The institutional investor bought 37,160 shares of the financial services provider’s stock, valued at approximately $1,666,000.

Several other hedge funds and other institutional investors have also modified their holdings of TRMK. BlackRock Inc. acquired a new position in Trustmark in the 2nd quarter valued at about $395,920,000. Dimensional Fund Advisors LP raised its holdings in Trustmark by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,897,556 shares of the financial services provider’s stock valued at $164,244,000 after acquiring an additional 20,628 shares during the period. North Reef Capital Management LP bought a new position in Trustmark in the 1st quarter valued at about $82,296,000. Bank of New York Mellon Corp acquired a new stake in Trustmark during the second quarter worth approximately $22,676,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in Trustmark by 8.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 379,965 shares of the financial services provider’s stock worth $16,012,000 after acquiring an additional 29,092 shares during the last quarter. Institutional investors own 67.64% of the company’s stock.

Wall Street Analysts Forecast Growth

TRMK has been the subject of a number of research analyst reports. Wall Street Zen upgraded 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. Keefe, Bruyette & Woods increased their target price on Trustmark from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 16th. DA Davidson lifted their price target on Trustmark from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Finally, Piper Sandler boosted their price target on Trustmark from $45.50 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Trustmark has a consensus rating of “Moderate Buy” and an average price target of $47.38.

Trustmark Trading Down 0.8%

TRMK stock opened at $45.01 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.88 and a current ratio of 0.89. The company’s 50-day simple moving average is $45.67 and its 200 day simple moving average is $44.78. Trustmark Corporation has a 52 week low of $36.41 and a 52 week high of $49.00. The company has a market capitalization of $2.61 billion, a PE ratio of 11.66 and a beta of 0.69.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, October 27th. The financial services provider reported $1.00 EPS for the quarter, hitting analysts’ consensus estimates of $1.00. Trustmark had a net margin of 20.90% and a return on equity of 10.78%. The business had revenue of $212.26 million for the quarter, compared to analyst estimates of $215.04 million. During the same period last year, the firm earned $0.94 earnings per share. Trustmark’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Trustmark Corporation will post 3.68 earnings per share for the current year.

Trustmark Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, December 1st. Trustmark’s dividend payout ratio is presently 25.00%.

Trustmark Company Profile

Trustmark Corporation (NASDAQ: TRMK) is a financial services company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides banking, wealth management and insurance services to individuals, businesses and institutional clients.

Trustmark’s banking activities include deposit accounts, consumer and commercial lending, mortgages, treasury management and other financial services. Its wealth management business offers trust, investment management, financial planning and related services, while its insurance operations provide personal and commercial insurance products.

Founded in 1889, Trustmark serves customers through banking and financial services operations in Mississippi, Alabama, Florida, Tennessee and Texas.