25,094 Shares in Trustmark Corporation $TRMK Acquired by Jupiter Topco LLC

Key Points

• Jupiter Topco LLC acquired 25,094 Trustmark shares worth approximately $1.16 million in the second quarter. Institutional investors collectively own 67.64% of the company.
• Trustmark reported quarterly earnings of $0.97 per share, exceeding estimates by $0.01, while revenue rose 4.8% year over year to $213.38 million.
• Trustmark announced a quarterly dividend of $0.25 per share, equivalent to a 2.1% yield. Analysts maintain a consensus “Hold” rating with an average price target of $46.12, near the stock’s $46.62 price.

Jupiter Topco LLC purchased a new stake in Trustmark Corporation (NASDAQ:TRMK - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 25,094 shares of the financial services provider's stock, valued at approximately $1,155,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its holdings in shares of Trustmark by 27.0% in the 1st quarter. Royal Bank of Canada now owns 22,127 shares of the financial services provider's stock valued at $764,000 after buying an additional 4,701 shares in the last quarter. AQR Capital Management LLC lifted its position in Trustmark by 230.8% in the first quarter. AQR Capital Management LLC now owns 97,234 shares of the financial services provider's stock valued at $3,327,000 after acquiring an additional 67,841 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Trustmark by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,217 shares of the financial services provider's stock valued at $1,249,000 after acquiring an additional 1,592 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Trustmark by 12.4% during the first quarter. Millennium Management LLC now owns 197,652 shares of the financial services provider's stock worth $6,817,000 after purchasing an additional 21,866 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Trustmark by 17.2% during the first quarter. Goldman Sachs Group Inc. now owns 470,756 shares of the financial services provider's stock worth $16,236,000 after purchasing an additional 69,110 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company's stock.

Trustmark Stock Up 1.2%

Shares of Trustmark stock opened at $46.62 on Friday. The company has a market cap of $2.71 billion, a P/E ratio of 11.83 and a beta of 0.64. 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 Corporation has a one year low of $36.33 and a one year high of $49.00. The firm has a fifty day moving average of $46.79 and a two-hundred day moving average of $44.85.

Trustmark (NASDAQ:TRMK - Get Free Report) last issued its earnings results on Tuesday, July 28th. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. Trustmark had a net margin of 20.75% and a return on equity of 10.69%. The business had revenue of $213.38 million for the quarter, compared to the consensus estimate of $210.30 million. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The business's quarterly revenue was up 4.8% compared to the same quarter last year. On average, analysts forecast that Trustmark Corporation will post 3.93 earnings per share for the current year.

Trustmark Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, September 1st. Trustmark's payout ratio is presently 25.38%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TRMK shares. Wall Street Zen raised Trustmark from a "sell" rating to a "hold" rating in a research report on Sunday, August 9th. DA Davidson lifted their price target on Trustmark from $46.00 to $48.00 and gave the stock a "neutral" rating in a research report on Thursday, July 30th. Piper Sandler boosted their price objective on Trustmark from $45.50 to $47.00 and gave the company a "neutral" rating in a research note on Thursday, July 30th. Finally, Weiss Ratings raised Trustmark from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $46.12.

About Trustmark

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.

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