Norges Bank Invests $10.99 Million in Trustmark Co. (NASDAQ:TRMK)

Norges Bank acquired a new position in Trustmark Co. (NASDAQ:TRMKFree Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 394,265 shares of the financial services provider’s stock, valued at approximately $10,992,000. Norges Bank owned approximately 0.65% of Trustmark at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in shares of Trustmark in the 3rd quarter worth about $28,000. Arlington Trust Co LLC purchased a new stake in Trustmark during the 4th quarter valued at about $84,000. Advisor Resource Council purchased a new stake in Trustmark during the 4th quarter valued at about $230,000. Teza Capital Management LLC purchased a new stake in Trustmark during the 3rd quarter valued at about $242,000. Finally, Element Wealth LLC purchased a new stake in Trustmark during the 4th quarter valued at about $246,000. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

Trustmark Stock Down 1.2 %

Shares of NASDAQ:TRMK opened at $28.41 on Wednesday. Trustmark Co. has a 52-week low of $18.96 and a 52-week high of $31.23. The firm has a market capitalization of $1.74 billion, a P/E ratio of 11.05 and a beta of 0.75. The stock has a 50 day moving average price of $28.73 and a 200-day moving average price of $27.29. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.83 and a current ratio of 0.84.

Trustmark (NASDAQ:TRMKGet Free Report) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.08. Trustmark had a return on equity of 10.04% and a net margin of 13.82%. The firm had revenue of $288.55 million during the quarter, compared to analyst estimates of $187.03 million. During the same quarter in the prior year, the company earned $0.82 EPS. As a group, equities research analysts anticipate that Trustmark Co. will post 2.77 EPS for the current fiscal year.

Trustmark Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Friday, May 31st. Trustmark’s dividend payout ratio is currently 35.80%.

Analysts Set New Price Targets

Several brokerages recently weighed in on TRMK. Piper Sandler restated a “neutral” rating and set a $29.00 target price on shares of Trustmark in a report on Tuesday, March 26th. Truist Financial upped their price target on Trustmark from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Friday, April 26th. DA Davidson upped their price target on Trustmark from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. raised Trustmark from a “sell” rating to a “hold” rating in a research report on Saturday, April 27th. Finally, Keefe, Bruyette & Woods raised Trustmark from a “market perform” rating to an “outperform” rating and upped their price target for the company from $30.00 to $36.00 in a research report on Thursday, April 25th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Trustmark has a consensus rating of “Hold” and a consensus target price of $32.75.

Get Our Latest Stock Report on TRMK

About Trustmark

(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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