Alps Advisors Inc. Takes Position in Trustmark Corporation $TRMK

Alps Advisors Inc. bought a new position in Trustmark Corporation (NASDAQ:TRMK) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 11,350 shares of the financial services provider’s stock, valued at approximately $449,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in TRMK. Federated Hermes Inc. grew its stake in shares of Trustmark by 7.3% in the third quarter. Federated Hermes Inc. now owns 369,109 shares of the financial services provider’s stock worth $14,617,000 after acquiring an additional 25,164 shares during the last quarter. HB Wealth Management LLC boosted its holdings in Trustmark by 544.0% during the third quarter. HB Wealth Management LLC now owns 70,211 shares of the financial services provider’s stock worth $2,780,000 after buying an additional 59,308 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Trustmark during the second quarter worth about $241,000. Squarepoint Ops LLC increased its holdings in Trustmark by 256.9% during the 2nd quarter. Squarepoint Ops LLC now owns 137,792 shares of the financial services provider’s stock worth $5,024,000 after purchasing an additional 99,189 shares in the last quarter. Finally, Barnes Pettey Financial Advisors LLC lifted its position in shares of Trustmark by 22.6% in the second quarter. Barnes Pettey Financial Advisors LLC now owns 10,886 shares of the financial services provider’s stock worth $397,000 after purchasing an additional 2,004 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Wall Street Analysts Forecast Growth

TRMK has been the subject of a number of recent analyst reports. Wall Street Zen cut Trustmark from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Trustmark in a research report on Wednesday, January 21st. DA Davidson lifted their price target on shares of Trustmark from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. Finally, Hovde Group boosted their target price on Trustmark from $42.00 to $44.50 and gave the stock a “market perform” rating in a research note on Thursday, January 29th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $43.83.

Trustmark Stock Up 1.7%

Shares of NASDAQ:TRMK opened at $44.73 on Friday. The firm has a fifty day moving average of $41.23 and a 200 day moving average of $39.69. The firm has a market capitalization of $2.68 billion, a PE ratio of 12.06 and a beta of 0.69. Trustmark Corporation has a 52-week low of $29.77 and a 52-week high of $44.96. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.89.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.06. The business had revenue of $209.44 million for the quarter, compared to analysts’ expectations of $207.05 million. Trustmark had a net margin of 19.95% and a return on equity of 10.77%. During the same period last year, the business earned $0.92 earnings per share. As a group, research analysts anticipate that Trustmark Corporation will post 3.42 EPS for the current fiscal year.

Trustmark Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 15th. Shareholders of record on Sunday, March 1st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.2%. This is a boost from Trustmark’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, February 27th. Trustmark’s dividend payout ratio (DPR) is 25.88%.

Trustmark Company 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.