IFP Advisors Inc Makes New $51,000 Investment in Trustmark Corporation (NASDAQ:TRMK)

IFP Advisors Inc acquired a new stake in shares of Trustmark Corporation (NASDAQ:TRMK) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,455 shares of the financial services provider’s stock, valued at approximately $51,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. CWM LLC boosted its holdings in Trustmark by 9.7% in the 1st quarter. CWM LLC now owns 5,655 shares of the financial services provider’s stock worth $195,000 after buying an additional 502 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Trustmark by 41.0% in the first quarter. GAMMA Investing LLC now owns 1,809 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 526 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its stake in shares of Trustmark by 7.6% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 11,930 shares of the financial services provider’s stock worth $422,000 after acquiring an additional 847 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of Trustmark by 14.0% in the fourth quarter. Captrust Financial Advisors now owns 7,722 shares of the financial services provider’s stock worth $273,000 after acquiring an additional 949 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in shares of Trustmark by 4.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 27,315 shares of the financial services provider’s stock worth $942,000 after purchasing an additional 1,080 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Price Performance

Trustmark stock opened at $37.25 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. Trustmark Corporation has a 52-week low of $29.77 and a 52-week high of $40.73. The firm has a market cap of $2.25 billion, a PE ratio of 10.46 and a beta of 0.66. The company’s 50 day moving average is $36.33 and its two-hundred day moving average is $35.43.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.06. Trustmark had a return on equity of 10.81% and a net margin of 19.21%. The business had revenue of $203.44 million during the quarter, compared to analysts’ expectations of $200.35 million. During the same period in the prior year, the firm posted $0.66 EPS. On average, research analysts expect that Trustmark Corporation will post 3.42 EPS for the current fiscal year.

Trustmark Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, August 29th. Trustmark’s dividend payout ratio is 26.97%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TRMK. Wall Street Zen cut Trustmark from a “buy” rating to a “hold” rating in a report on Saturday, June 7th. DA Davidson raised their target price on Trustmark from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods lowered their price target on shares of Trustmark from $45.00 to $43.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Finally, Hovde Group raised their price objective on shares of Trustmark from $37.00 to $41.00 and gave the stock a “market perform” rating in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $41.00.

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.