Earnest Partners LLC Increases Stock Holdings in Trustmark Co. (NASDAQ:TRMK)

Earnest Partners LLC boosted its stake in Trustmark Co. (NASDAQ:TRMK) by 3.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,442,019 shares of the financial services provider’s stock after acquiring an additional 102,268 shares during the period. Earnest Partners LLC owned 0.06% of Trustmark worth $103,398,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Trustmark by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 6,712,905 shares of the financial services provider’s stock valued at $187,156,000 after purchasing an additional 50,795 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Trustmark by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,050,787 shares of the financial services provider’s stock worth $121,683,000 after buying an additional 64,334 shares during the period. American Century Companies Inc. boosted its position in Trustmark by 25.3% during the 2nd quarter. American Century Companies Inc. now owns 986,322 shares of the financial services provider’s stock valued at $29,629,000 after acquiring an additional 199,245 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Trustmark by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 685,875 shares of the financial services provider’s stock worth $20,604,000 after acquiring an additional 2,714 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of Trustmark by 5.9% during the 1st quarter. Principal Financial Group Inc. now owns 576,057 shares of the financial services provider’s stock worth $16,193,000 after acquiring an additional 31,951 shares during the period. 67.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TRMK shares. Truist Financial lowered their target price on Trustmark from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Friday, September 20th. StockNews.com lowered Trustmark from a “hold” rating to a “sell” rating in a research report on Monday. Finally, DA Davidson upped their target price on shares of Trustmark from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Trustmark currently has a consensus rating of “Hold” and a consensus target price of $34.50.

Trustmark Stock Performance

Trustmark stock opened at $31.42 on Thursday. The stock’s 50 day moving average is $32.54 and its 200 day moving average is $30.03. The company has a market capitalization of $1.92 billion, a P/E ratio of 12.23 and a beta of 0.74. Trustmark Co. has a twelve month low of $18.96 and a twelve month high of $35.72. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.10.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. The firm had revenue of $283.96 million for the quarter, compared to analysts’ expectations of $229.83 million. Trustmark had a return on equity of 9.32% and a net margin of 16.24%. During the same period in the prior year, the firm posted $0.74 earnings per share. On average, equities research analysts predict that Trustmark Co. will post 2.92 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.92 dividend on an annualized basis and a yield of 2.93%. Trustmark’s dividend payout ratio is currently 35.80%.

Trustmark Profile

Trustmark Corporation operates as the bank holding company for Trustmark National Bank that provides banking and other financial solutions to individuals and corporate institutions in the United States. The company operates through three segments: General Banking, Wealth Management, and Insurance. It offers checking, savings, and money market accounts; certificates of deposits and individual retirement accounts; financing for commercial and industrial projects, income-producing commercial real estate, owner-occupied real estate, and construction and land development; and installment and real estate loans, and lines of credit, as well as treasury management services.