Royce & Associates LP Invests $501,000 in Trustmark Corporation $TRMK

Royce & Associates LP purchased a new position in shares of Trustmark Corporation (NASDAQ:TRMK) in the 4th quarter, Holdings Channel reports. The fund purchased 12,865 shares of the financial services provider’s stock, valued at approximately $501,000.

Several other institutional investors have also modified their holdings of TRMK. Federated Hermes Inc. lifted its holdings in Trustmark by 7.3% in the third quarter. Federated Hermes Inc. now owns 369,109 shares of the financial services provider’s stock worth $14,617,000 after purchasing an additional 25,164 shares during the period. Clark Capital Management Group Inc. lifted its holdings in Trustmark by 13.5% in the third quarter. Clark Capital Management Group Inc. now owns 352,468 shares of the financial services provider’s stock worth $13,958,000 after purchasing an additional 42,032 shares during the period. Principal Financial Group Inc. lifted its holdings in Trustmark by 9.8% in the third quarter. Principal Financial Group Inc. now owns 328,925 shares of the financial services provider’s stock worth $13,025,000 after purchasing an additional 29,302 shares during the period. UBS Group AG lifted its holdings in Trustmark by 282.0% in the fourth quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock worth $24,944,000 after purchasing an additional 472,751 shares during the period. Finally, Public Sector Pension Investment Board lifted its holdings in Trustmark by 29.3% in the third quarter. Public Sector Pension Investment Board now owns 266,557 shares of the financial services provider’s stock worth $10,556,000 after purchasing an additional 60,340 shares during the period. Institutional investors own 67.64% of the company’s stock.

Wall Street Analysts Forecast Growth

TRMK has been the subject of several research analyst reports. Brean Capital initiated coverage on shares of Trustmark in a report on Thursday, March 12th. They issued a “buy” rating for the company. Piper Sandler upped their price objective on shares of Trustmark from $44.00 to $45.50 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trustmark in a report on Monday, May 4th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $45.00 price objective on shares of Trustmark in a report on Thursday, April 9th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $44.00 price objective on shares of Trustmark in a report on Wednesday, April 29th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $44.75.

Trustmark Stock Performance

NASDAQ:TRMK opened at $44.16 on Monday. Trustmark Corporation has a twelve month low of $33.39 and a twelve month high of $45.99. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average of $43.83 and a 200-day moving average of $42.05. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 11.68 and a beta of 0.65.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.08. Trustmark had a net margin of 20.12% and a return on equity of 10.74%. The company had revenue of $208.07 million during the quarter, compared to analyst estimates of $204.98 million. During the same quarter last year, the firm posted $0.88 EPS. Analysts forecast that Trustmark Corporation will post 3.92 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders 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 annualized dividend and a dividend yield of 2.3%. Trustmark’s dividend payout ratio (DPR) is 26.46%.

Trustmark 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.