Trustmark Co. (NASDAQ:TRMK) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. raised its position in Trustmark Co. (NASDAQ:TRMK - Free Report) by 70.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 270,237 shares of the financial services provider's stock after purchasing an additional 111,842 shares during the period. Victory Capital Management Inc. owned 0.44% of Trustmark worth $7,534,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TRMK. Headlands Technologies LLC bought a new stake in Trustmark in the third quarter worth approximately $28,000. Arlington Trust Co LLC bought a new position in Trustmark during the fourth quarter worth $84,000. Nisa Investment Advisors LLC boosted its stake in Trustmark by 1,029.7% during 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 in the last quarter. Advisor Resource Council acquired a new stake in Trustmark in the fourth quarter worth $230,000. Finally, Teza Capital Management LLC bought a new stake in Trustmark in the third quarter valued at $242,000. Institutional investors and hedge funds own 67.64% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Piper Sandler restated a "neutral" rating and issued a $29.00 target price on shares of Trustmark in a research note on Tuesday, March 26th. StockNews.com raised shares of Trustmark from a "sell" rating to a "hold" rating in a research report on Saturday, April 27th. TheStreet upgraded shares of Trustmark from a "c+" rating to a "b" rating in a report on Tuesday, January 23rd. DA Davidson raised their price objective on shares of Trustmark from $30.00 to $34.00 and gave the company a "neutral" rating in a research note on Thursday, April 25th. Finally, Keefe, Bruyette & Woods upgraded shares of Trustmark from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $30.00 to $36.00 in a report on Thursday, April 25th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $32.75.

Trustmark Stock Performance

NASDAQ:TRMK traded up $0.35 during trading on Tuesday, reaching $30.54. The company's stock had a trading volume of 139,417 shares, compared to its average volume of 278,147. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 11.88 and a beta of 0.78. Trustmark Co. has a 12 month low of $18.96 and a 12 month high of $31.23. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a 50 day moving average of $27.78 and a 200-day moving average of $26.43.

Trustmark (NASDAQ:TRMK - Get Free Report) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.08. The business had revenue of $288.55 million during the quarter, compared to the consensus estimate of $187.03 million. Trustmark had a return on equity of 10.04% and a net margin of 13.82%. During the same period last year, the business posted $0.82 earnings per share. Research analysts expect that Trustmark Co. will post 2.77 EPS for the current fiscal year.

Trustmark Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 15th. Investors of record on Saturday, June 1st will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Friday, May 31st. Trustmark's payout ratio is currently 35.80%.

Trustmark Company 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.