Trustmark Corporation $TRMK Stock Holdings Lessened by Fisher Asset Management LLC

Fisher Asset Management LLC trimmed its position in shares of Trustmark Corporation (NASDAQ:TRMK) by 7.4% during the 4th quarter, HoldingsChannel reports. The firm owned 371,263 shares of the financial services provider’s stock after selling 29,578 shares during the quarter. Fisher Asset Management LLC’s holdings in Trustmark were worth $14,461,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. grew its position in Trustmark by 7.3% during the 3rd quarter. Federated Hermes Inc. now owns 369,109 shares of the financial services provider’s stock worth $14,617,000 after purchasing an additional 25,164 shares in the last quarter. Clark Capital Management Group Inc. grew its position in Trustmark by 13.5% during the 3rd quarter. Clark Capital Management Group Inc. now owns 352,468 shares of the financial services provider’s stock worth $13,958,000 after purchasing an additional 42,032 shares in the last quarter. Principal Financial Group Inc. grew its position in Trustmark by 9.8% during the 3rd quarter. Principal Financial Group Inc. now owns 328,925 shares of the financial services provider’s stock worth $13,025,000 after purchasing an additional 29,302 shares in the last quarter. Public Sector Pension Investment Board grew its position in Trustmark by 29.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 266,557 shares of the financial services provider’s stock worth $10,556,000 after purchasing an additional 60,340 shares in the last quarter. Finally, UBS Group AG grew its position in Trustmark by 282.0% during the 4th quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock worth $24,944,000 after purchasing an additional 472,751 shares in the last quarter. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

Trustmark Trading Down 1.4%

Trustmark stock opened at $44.17 on Thursday. The company’s fifty day simple moving average is $43.69 and its 200-day simple moving average is $41.96. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. Trustmark Corporation has a 12 month low of $33.39 and a 12 month high of $45.99. The stock has a market cap of $2.59 billion, a P/E ratio of 11.69 and a beta of 0.66.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.95 EPS for the quarter, beating the consensus estimate of $0.87 by $0.08. Trustmark had a net margin of 20.12% and a return on equity of 10.74%. The business had revenue of $208.07 million for the quarter, compared to analysts’ expectations of $204.98 million. During the same period in the previous year, the company posted $0.88 EPS. As a group, sell-side analysts forecast that Trustmark Corporation will post 3.92 EPS for the current fiscal year.

Trustmark Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, June 1st. Trustmark’s payout ratio is presently 26.46%.

Analyst Ratings Changes

Several equities analysts have weighed in on TRMK shares. Brean Capital started coverage on shares of Trustmark in a research report on Thursday, March 12th. They set a “buy” rating on the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $45.00 price objective on shares of Trustmark in a research report on Thursday, April 9th. Piper Sandler lifted their price objective on shares of Trustmark from $44.00 to $45.50 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. DA Davidson restated a “neutral” rating and set a $44.00 price target on shares of Trustmark in a report on Wednesday, April 29th. Finally, Hovde Group boosted their price target on shares of Trustmark from $42.00 to $44.50 and gave the company a “market perform” rating in a report on Thursday, January 29th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Trustmark has an average rating of “Hold” and an average price target of $44.75.

Trustmark 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.