Jefferies Financial Group Inc. Invests $799,000 in Trustmark Corporation $TRMK

Jefferies Financial Group Inc. acquired a new position in shares of Trustmark Corporation (NASDAQ:TRMK) in the second quarter, Holdings Channel reports. The firm acquired 17,357 shares of the financial services provider’s stock, valued at approximately $799,000.

Other institutional investors also recently added to or reduced their stakes in the company. Hsbc Holdings PLC bought a new stake in shares of Trustmark in the 4th quarter valued at about $898,000. Bank of America Corp DE grew its position in shares of Trustmark by 121.1% in the 1st quarter. Bank of America Corp DE now owns 316,772 shares of the financial services provider’s stock worth $13,349,000 after buying an additional 173,486 shares during the last quarter. UBS Group AG raised its stake in shares of Trustmark by 282.0% during the 4th quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock worth $24,944,000 after acquiring an additional 472,751 shares in the last quarter. Horizon Investments LLC bought a new position in shares of Trustmark during the 4th quarter worth approximately $1,185,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Trustmark during the second quarter valued at approximately $1,859,000. Institutional investors own 67.64% of the company’s stock.

Wall Street Analysts Forecast Growth

TRMK has been the subject of several recent analyst reports. DA Davidson raised their target price on shares of Trustmark from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Wall Street Zen raised Trustmark from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Piper Sandler increased their price objective on Trustmark from $45.50 to $47.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Finally, Weiss Ratings raised Trustmark from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $46.12.

Trustmark Stock Performance

TRMK opened at $46.27 on Monday. The company has a market cap of $2.69 billion, a P/E ratio of 11.74 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’s 50-day moving average price is $46.79 and its 200-day moving average price is $44.79. Trustmark Corporation has a 52-week low of $36.33 and a 52-week high of $49.00.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, July 28th. The financial services provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The company had revenue of $213.38 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the business earned $0.92 EPS. As a group, equities analysts anticipate that Trustmark Corporation will post 3.93 EPS for the current fiscal year.

Trustmark Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.2%. Trustmark’s dividend payout ratio (DPR) is currently 25.38%.

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.