Legal & General Group Plc Invests $5.99 Million in Trustmark Corporation $TRMK

Key Points

• Legal & General Group Plc acquired 130,201 Trustmark shares worth approximately $5.99 million in the second quarter, representing a 0.22% stake. Institutional investors collectively own 67.64% of Trustmark.
• Trustmark exceeded quarterly expectations, reporting $0.97 earnings per share and $213.38 million in revenue, with revenue up 4.8% year over year.
• The company declared a quarterly dividend of $0.25 per share, equivalent to an annualized $1.00 payout and a 2.2% yield. Analysts maintain a consensus “Hold” rating with an average price target of $46.12.

Legal & General Group Plc acquired a new stake in Trustmark Corporation (NASDAQ:TRMK - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 130,201 shares of the financial services provider's stock, valued at approximately $5,991,000. Legal & General Group Plc owned 0.22% of Trustmark at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TRMK. Rockefeller Capital Management L.P. grew its stake in shares of Trustmark by 1,129.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 848 shares of the financial services provider's stock valued at $33,000 after buying an additional 779 shares during the period. Meeder Asset Management Inc. acquired a new position in Trustmark in the fourth quarter valued at approximately $36,000. EverSource Wealth Advisors LLC lifted its holdings in Trustmark by 452.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider's stock valued at $46,000 after acquiring an additional 1,022 shares during the last quarter. Global Retirement Partners LLC purchased a new position in Trustmark in the second quarter worth approximately $63,000. Finally, Kestra Advisory Services LLC purchased a new position in Trustmark in the fourth quarter worth approximately $55,000. 67.64% of the stock is owned by hedge funds and other institutional investors.

Trustmark Stock Up 0.5%

Shares of NASDAQ:TRMK opened at $46.06 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The firm's 50 day moving average price is $46.79 and its 200 day moving average price is $44.84. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 11.69 and a beta of 0.64. Trustmark Corporation has a fifty-two week low of $36.33 and a fifty-two week high of $49.00.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its earnings results on Tuesday, July 28th. The financial services provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. Trustmark had a return on equity of 10.69% and a net margin of 20.75%.The firm had revenue of $213.38 million for the quarter, compared to analyst estimates of $210.30 million. During the same quarter in the prior year, the company posted $0.92 earnings per share. Trustmark's revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, equities research analysts predict that Trustmark Corporation will post 3.93 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. Trustmark's dividend payout ratio (DPR) is presently 25.38%.

Wall Street Analysts Forecast Growth

TRMK has been the topic of a number of research analyst reports. Wall Street Zen upgraded Trustmark from a "sell" rating to a "hold" rating in a research report on Sunday, August 9th. Piper Sandler boosted their price objective on shares of Trustmark from $45.50 to $47.00 and gave the company a "neutral" rating in a report on Thursday, July 30th. DA Davidson upped their target price on shares of Trustmark from $46.00 to $48.00 and gave the company a "neutral" rating in a research report on Thursday, July 30th. Finally, Weiss Ratings upgraded shares of Trustmark from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Trustmark currently has an average rating of "Hold" and an average target price 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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