64,512 Shares in Trustmark Corporation (NASDAQ:TRMK) Acquired by Advisor Resource Council

Advisor Resource Council bought a new position in Trustmark Corporation (NASDAQ:TRMK - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (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 approximately 0.11% of Trustmark at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. AlphaQuest LLC boosted its stake in Trustmark by 4.7% in the fourth quarter. AlphaQuest LLC now owns 10,157 shares of the financial services provider's stock worth $359,000 after buying an additional 456 shares in the last quarter. GAMMA Investing LLC boosted its stake in Trustmark by 41.0% in the first quarter. GAMMA Investing LLC now owns 1,809 shares of the financial services provider's stock worth $62,000 after buying an additional 526 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Trustmark by 1.0% in 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. Element Wealth LLC boosted its stake in Trustmark by 6.3% in the fourth quarter. Element Wealth LLC now owns 9,018 shares of the financial services provider's stock worth $319,000 after buying an additional 533 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Trustmark by 0.7% in the fourth quarter. Swiss National Bank now owns 114,400 shares of the financial services provider's stock worth $4,046,000 after buying an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 67.64% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on TRMK shares. Keefe, Bruyette & Woods cut their target price on Trustmark from $45.00 to $43.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Wall Street Zen lowered Trustmark from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Finally, Hovde Group increased their price objective on Trustmark from $36.00 to $37.00 and gave the company a "market perform" rating in a research note on Monday, April 28th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Trustmark currently has an average rating of "Hold" and an average target price of $39.80.

Trustmark Stock Performance

Shares of TRMK stock opened at $34.08 on Friday. The stock has a fifty day moving average of $34.39 and a 200 day moving average of $35.12. Trustmark Corporation has a 52 week low of $28.32 and a 52 week high of $40.73. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 8.88 and a beta of 0.66. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09.

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

Trustmark Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Sunday, June 1st were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date was Friday, May 30th. Trustmark's payout ratio is 25.00%.

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.

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