Advisor Resource Council Takes Position in Trustmark Corporation (NASDAQ:TRMK)

Advisor Resource Council bought a new stake in shares of Trustmark Corporation (NASDAQ:TRMK - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 64,512 shares of the financial services provider's stock, valued at approximately $2,225,000. Advisor Resource Council owned about 0.11% of Trustmark as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of TRMK. CIBC Asset Management Inc purchased a new stake in shares of Trustmark in the fourth quarter valued at $217,000. New York State Common Retirement Fund lifted its holdings in Trustmark by 8.3% in the 4th quarter. New York State Common Retirement Fund now owns 19,513 shares of the financial services provider's stock valued at $690,000 after purchasing an additional 1,500 shares in the last quarter. Element Wealth LLC boosted its stake in shares of Trustmark by 6.3% during the 4th quarter. Element Wealth LLC now owns 9,018 shares of the financial services provider's stock worth $319,000 after purchasing an additional 533 shares during the last quarter. BankPlus Trust Department acquired a new stake in shares of Trustmark during the 4th quarter worth about $842,000. Finally, Oppenheimer Asset Management Inc. grew its holdings in shares of Trustmark by 1.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 54,274 shares of the financial services provider's stock worth $1,920,000 after buying an additional 528 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TRMK. Keefe, Bruyette & Woods decreased their target price 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. Hovde Group increased their price target on Trustmark from $36.00 to $37.00 and gave the stock a "market perform" rating in a research note on Monday, April 28th. Finally, Wall Street Zen downgraded Trustmark from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Trustmark presently has an average rating of "Hold" and a consensus target price of $39.80.

Trustmark Trading Up 1.5%

NASDAQ:TRMK traded up $0.54 during trading hours on Tuesday, reaching $35.43. 451,475 shares of the company were exchanged, compared to its average volume of 305,129. Trustmark Corporation has a 52-week low of $28.37 and a 52-week high of $40.73. The stock has a 50 day simple moving average of $34.45 and a 200 day simple moving average of $35.05. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 9.23 and a beta of 0.66. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86.

Trustmark (NASDAQ:TRMK - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.06. Trustmark had a return on equity of 10.29% and a net margin of 20.73%. The business had revenue of $231.83 million for the quarter, compared to analyst estimates of $195.38 million. As a group, analysts predict that Trustmark Corporation will post 3.42 EPS for the current year.

Trustmark Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.71%. The ex-dividend date was Friday, May 30th. Trustmark's payout ratio is currently 25.00%.

Trustmark Company 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.