Trustmark Corporation $TRMK Shares Newly Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems acquired 37,160 Trustmark shares in the third quarter, worth about $1.67 million, representing roughly 0.06% of the company.
• Institutional investors and hedge funds own 67.64% of Trustmark. Analysts’ average rating is “Moderate Buy,” with an average price target of $47.38.
• Trustmark matched quarterly EPS estimates at $1.00, while revenue of $212.26 million fell short of forecasts; revenue nevertheless rose 2.3% year over year. The company declared a $0.25 quarterly dividend.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Trustmark Corporation (NASDAQ:TRMK - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 37,160 shares of the financial services provider's stock, valued at approximately $1,666,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.06% of Trustmark as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of TRMK. BlackRock Inc. bought a new position in Trustmark in the second quarter valued at approximately $395,920,000. North Reef Capital Management LP bought a new stake in shares of Trustmark during the 1st quarter worth approximately $82,296,000. Bank of New York Mellon Corp bought a new stake in shares of Trustmark during the 2nd quarter worth approximately $22,676,000. Empowered Funds LLC bought a new stake in shares of Trustmark during the 2nd quarter worth approximately $12,209,000. Finally, Bank of America Corp DE acquired a new stake in shares of Trustmark in the 2nd quarter valued at approximately $9,323,000. 67.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TRMK. Wall Street Zen raised shares of Trustmark from a "sell" rating to a "hold" rating in a research note on Sunday, August 9th. DA Davidson boosted their target price on shares of Trustmark from $46.00 to $48.00 and gave the stock a "neutral" rating in a report on Thursday, July 30th. Piper Sandler upped their price target on shares of Trustmark from $45.50 to $47.00 and gave the stock a "neutral" rating in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Trustmark from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Friday, August 14th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Trustmark from $48.00 to $50.00 and gave the company a "market perform" rating in a research note on Wednesday, September 16th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $47.38.

Trustmark Price Performance

Shares of NASDAQ TRMK opened at $45.01 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The business's 50 day moving average price is $45.67 and its two-hundred day moving average price is $44.78. The company has a market cap of $2.61 billion, a PE ratio of 11.66 and a beta of 0.69. Trustmark Corporation has a twelve month low of $36.41 and a twelve month high of $49.00.

Trustmark (NASDAQ:TRMK - Get Free Report) last released its quarterly earnings data on Tuesday, October 27th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.00. Trustmark had a return on equity of 10.78% and a net margin of 20.90%. The company had revenue of $212.26 million during the quarter, compared to analysts' expectations of $215.04 million. During the same period last year, the firm posted $0.94 earnings per share. The business's revenue was up 2.3% on a year-over-year basis. On average, analysts predict that Trustmark Corporation will post 3.68 EPS for the current year.

Trustmark Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Tuesday, December 1st. Trustmark's dividend payout ratio is 25.00%.

Trustmark Profile

Trustmark Corporation NASDAQ: TRMK is a financial services company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides banking, wealth management and insurance services to individuals, businesses and institutional clients.

Trustmark's banking activities include deposit accounts, consumer and commercial lending, mortgages, treasury management and other financial services. Its wealth management business offers trust, investment management, financial planning and related services, while its insurance operations provide personal and commercial insurance products.

Founded in 1889, Trustmark serves customers through banking and financial services operations in Mississippi, Alabama, Florida, Tennessee and Texas.

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