Susquehanna International Group LLP Has $662,000 Stock Holdings in Trustmark Corporation $TRMK

Key Points

• Susquehanna International Group reduced its Trustmark stake by 62.5% in the second quarter, retaining 14,393 shares valued at approximately $662,000. Institutional investors and hedge funds collectively own 67.64% of TRMK.
• Analysts raised their price targets to between $47 and $48, but Trustmark maintains a consensus “Hold” rating with an average target of $46.12.
• Trustmark exceeded quarterly expectations with earnings of $0.97 per share and revenue of $213.38 million, while announcing a quarterly dividend of $0.25 per share, equating to a 2.2% yield.

Susquehanna International Group LLP reduced its stake in shares of Trustmark Corporation (NASDAQ:TRMK - Free Report) by 62.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,393 shares of the financial services provider's stock after selling 23,941 shares during the quarter. Susquehanna International Group LLP's holdings in Trustmark were worth $662,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Public Employees Retirement System of Ohio acquired a new stake in shares of Trustmark in the 2nd quarter valued at $39,000. Rockefeller Capital Management L.P. boosted its stake in Trustmark by 1,129.0% in the fourth 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 in the last quarter. Meeder Asset Management Inc. bought a new position in Trustmark in the fourth quarter valued at about $36,000. EverSource Wealth Advisors LLC grew its position 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. Finally, Global Retirement Partners LLC acquired a new position in Trustmark during the second quarter worth about $63,000. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on TRMK. Weiss Ratings upgraded shares of Trustmark from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Friday, August 14th. Piper Sandler raised their price objective on Trustmark from $45.50 to $47.00 and gave the company a "neutral" rating in a report on Thursday, July 30th. DA Davidson boosted their price objective on Trustmark from $46.00 to $48.00 and gave the stock a "neutral" rating in a research report on Thursday, July 30th. Finally, Wall Street Zen upgraded Trustmark from a "sell" rating to a "hold" rating in a research report on Sunday, August 9th. One investment 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. Based on data from MarketBeat.com, Trustmark currently has a consensus rating of "Hold" and a consensus price target of $46.12.

Trustmark Stock Performance

Shares of TRMK stock opened at $45.92 on Tuesday. Trustmark Corporation has a 52 week low of $36.33 and a 52 week high of $49.00. 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 company has a market cap of $2.67 billion, a price-to-earnings ratio of 11.65 and a beta of 0.65. The firm has a 50 day moving average of $46.81 and a 200-day moving average of $44.80.

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

Trustmark Dividend Announcement

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

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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