Wedge Capital Management L L P NC Acquires 2,498 Shares of Trustmark Co. (NASDAQ:TRMK)

Wedge Capital Management L L P NC lifted its holdings in shares of Trustmark Co. (NASDAQ:TRMK) by 11.5% during the 4th quarter, Holdings Channel reports. The firm owned 24,137 shares of the financial services provider’s stock after purchasing an additional 2,498 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Trustmark were worth $673,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TRMK. Headlands Technologies LLC bought a new stake in shares of Trustmark during the 3rd quarter valued at about $28,000. Arlington Trust Co LLC bought a new position in Trustmark in the fourth quarter worth approximately $84,000. Nisa Investment Advisors LLC boosted its holdings in 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 in the last quarter. Advisor Resource Council bought a new position in Trustmark in the fourth quarter worth approximately $230,000. Finally, Teza Capital Management LLC purchased a new stake in shares of Trustmark in the third quarter worth approximately $242,000. Institutional investors own 67.64% of the company’s stock.

Trustmark Stock Performance

NASDAQ:TRMK opened at $29.82 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.84. The business has a fifty day simple moving average of $26.79 and a two-hundred day simple moving average of $25.46. Trustmark Co. has a 1 year low of $18.96 and a 1 year high of $30.09. The company has a market capitalization of $1.82 billion, a P/E ratio of 11.60 and a beta of 0.82.

Trustmark (NASDAQ:TRMK) 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. Trustmark had a return on equity of 10.04% and a net margin of 13.82%. The business had revenue of $288.55 million during the quarter, compared to the consensus estimate of $187.03 million. During the same period last year, the business posted $0.82 earnings per share. On average, analysts expect that Trustmark Co. will post 2.44 earnings per share for the current year.

Trustmark Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Friday, May 31st. Trustmark’s payout ratio is currently 35.80%.

Analyst Upgrades and Downgrades

TRMK has been the subject of several analyst reports. Truist Financial increased their price objective on Trustmark from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, April 1st. DA Davidson increased their price objective on Trustmark from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday. Keefe, Bruyette & Woods raised Trustmark from a “market perform” rating to an “outperform” rating and increased their price target for the company from $30.00 to $36.00 in a research report on Thursday. TheStreet raised Trustmark from a “c+” rating to a “b” rating in a research report on Tuesday, January 23rd. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $29.00 price target on shares of Trustmark in a research report on Tuesday, March 26th. 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.com, the stock currently has an average rating of “Hold” and an average price target of $32.25.

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.