Susquehanna International Group LLP Decreases Stock Position in Trustmark Corporation $TRMK

Susquehanna International Group LLP lessened its position in shares of Trustmark Corporation (NASDAQ:TRMK) by 62.5% during the second quarter, Holdings Channel reports. 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 filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rockefeller Capital Management L.P. increased its holdings in Trustmark by 1,129.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 848 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 779 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Trustmark during the fourth quarter valued at about $36,000. Public Employees Retirement System of Ohio bought a new position in Trustmark during the second quarter worth about $39,000. EverSource Wealth Advisors LLC boosted its position in Trustmark by 452.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 1,022 shares during the period. Finally, Kestra Advisory Services LLC bought a new stake in shares of Trustmark in the fourth quarter valued at approximately $55,000. Institutional investors own 67.64% of the company’s stock.

Trustmark Price Performance

Trustmark 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 business has a 50-day simple moving average of $46.81 and a 200 day simple moving average of $44.80. 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 stock has a market cap of $2.67 billion, a price-to-earnings ratio of 11.65 and a beta of 0.65.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. The firm had revenue of $213.38 million for 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 was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.92 EPS. On average, research analysts forecast that Trustmark Corporation will post 3.93 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 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 of this dividend is Tuesday, September 1st. Trustmark’s dividend payout ratio (DPR) is currently 25.38%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wall Street Zen raised shares of Trustmark from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Piper Sandler raised their price target on Trustmark from $45.50 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. DA Davidson lifted their price target on Trustmark from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Finally, Weiss Ratings upgraded Trustmark from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $46.12.

Trustmark Company Profile

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.