Victory Capital Management Inc. Purchases 135,202 Shares of Trustmark Co. (NASDAQ:TRMK)

Victory Capital Management Inc. increased its position in shares of Trustmark Co. (NASDAQ:TRMKFree Report) by 582.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 158,395 shares of the financial services provider’s stock after acquiring an additional 135,202 shares during the period. Victory Capital Management Inc. owned about 0.26% of Trustmark worth $3,442,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TRMK. Coppell Advisory Solutions Corp. acquired a new position in Trustmark during the 4th quarter worth about $43,000. Tower Research Capital LLC TRC lifted its holdings in Trustmark by 208.2% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,795 shares of the financial services provider’s stock worth $69,000 after buying an additional 1,888 shares during the period. Point72 Middle East FZE acquired a new position in Trustmark during the 4th quarter worth about $82,000. Public Employees Retirement System of Ohio lifted its holdings in Trustmark by 315.1% during the 1st quarter. Public Employees Retirement System of Ohio now owns 4,466 shares of the financial services provider’s stock worth $110,000 after buying an additional 3,390 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in Trustmark by 1,029.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,055 shares of the financial services provider’s stock worth $132,000 after buying an additional 5,519 shares during the period. Institutional investors own 65.26% of the company’s stock.

Wall Street Analyst Weigh In

TRMK has been the topic of several recent research reports. Keefe, Bruyette & Woods lifted their target price on Trustmark from $27.00 to $30.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. Truist Financial boosted their price objective on Trustmark from $21.00 to $29.00 and gave the company a “hold” rating in a research note on Friday, December 15th. TheStreet raised Trustmark from a “c+” rating to a “b” rating in a research note on Tuesday, January 23rd. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. Finally, DA Davidson reissued a “neutral” rating on shares of Trustmark in a research note on Monday, January 15th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Trustmark has an average rating of “Hold” and an average target price of $30.00.

Read Our Latest Research Report on Trustmark

Trustmark Stock Performance

Shares of Trustmark stock opened at $26.63 on Friday. Trustmark Co. has a one year low of $18.96 and a one year high of $30.58. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 9.83 and a beta of 0.84. The business has a 50-day simple moving average of $27.07 and a 200 day simple moving average of $24.15. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.85 and a quick ratio of 0.84.

Trustmark (NASDAQ:TRMKGet Free Report) last issued its earnings results on Wednesday, January 24th. The financial services provider reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Trustmark had a return on equity of 10.77% and a net margin of 15.06%. The business had revenue of $189.85 million during the quarter, compared to analyst estimates of $187.63 million. During the same period in the previous year, the company posted $0.68 EPS. The firm’s revenue was down 2.7% compared to the same quarter last year. On average, research analysts anticipate that Trustmark Co. will post 2.47 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Thursday, February 29th. Trustmark’s payout ratio is 33.95%.

Trustmark Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Trustmark (NASDAQ:TRMK)

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