Louisiana State Employees Retirement System Invests $853,000 in Trustmark Co. (NASDAQ:TRMK)

Louisiana State Employees Retirement System purchased a new position in Trustmark Co. (NASDAQ:TRMK - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 30,600 shares of the financial services provider's stock, valued at approximately $853,000. Louisiana State Employees Retirement System owned about 0.05% of Trustmark as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Headlands Technologies LLC acquired a new position in shares of Trustmark in the third quarter worth $28,000. Arlington Trust Co LLC acquired a new position in shares of Trustmark in the fourth quarter worth $84,000. Nisa Investment Advisors LLC raised its holdings in shares of Trustmark by 1,029.7% in the third quarter. Nisa Investment Advisors LLC now owns 6,055 shares of the financial services provider's stock worth $132,000 after acquiring an additional 5,519 shares during the last quarter. Advisor Resource Council acquired a new position in shares of Trustmark in the fourth quarter worth $230,000. Finally, Diligent Investors LLC acquired a new position in Trustmark in the fourth quarter valued at $248,000. 67.64% of the stock is owned by institutional investors and hedge funds.

Trustmark Trading Up 0.8 %

NASDAQ:TRMK traded up $0.23 on Friday, hitting $30.05. 309,846 shares of the stock were exchanged, compared to its average volume of 304,610. The stock has a market cap of $1.84 billion, a PE ratio of 11.69 and a beta of 0.82. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11. The stock has a fifty day moving average of $26.89 and a 200-day moving average of $25.55. Trustmark Co. has a fifty-two week low of $18.96 and a fifty-two week high of $30.21.

Trustmark (NASDAQ:TRMK - Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.60 by $0.08. The company had revenue of $288.55 million during the quarter, compared to analyst estimates of $187.03 million. Trustmark had a return on equity of 10.04% and a net margin of 13.82%. During the same period in the prior year, the firm posted $0.82 earnings per share. As a group, equities analysts expect that Trustmark Co. will post 2.46 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st will be paid a dividend of $0.23 per share. The ex-dividend date is Friday, May 31st. This represents a $0.92 annualized dividend and a yield of 3.06%. Trustmark's dividend payout ratio is presently 35.80%.

Analyst Ratings Changes

TRMK has been the subject of several analyst reports. Piper Sandler reiterated a "neutral" rating and issued a $29.00 target price on shares of Trustmark in a research note on Tuesday, March 26th. Truist Financial upped their target price on Trustmark from $30.00 to $32.00 and gave the company a "hold" rating in a research note on Friday. TheStreet upgraded Trustmark from a "c+" rating to a "b" rating in a research note on Tuesday, January 23rd. Keefe, Bruyette & Woods upgraded Trustmark from a "market perform" rating to an "outperform" rating and upped their target price for the company from $30.00 to $36.00 in a research note on Thursday. Finally, StockNews.com upgraded Trustmark from a "sell" rating to a "hold" rating in a research note on Saturday. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $32.75.

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.