Financial Harvest LLC Takes Position in Trustmark Corporation (NASDAQ:TRMK)

Financial Harvest LLC acquired a new stake in shares of Trustmark Corporation (NASDAQ:TRMK) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 13,981 shares of the financial services provider’s stock, valued at approximately $482,000. Trustmark makes up about 0.3% of Financial Harvest LLC’s holdings, making the stock its 26th largest holding.

Other large investors have also bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of Trustmark during the first quarter valued at approximately $508,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Trustmark during the fourth quarter valued at approximately $212,000. Raymond James Financial Inc. bought a new stake in shares of Trustmark during the fourth quarter valued at approximately $1,145,000. Deutsche Bank AG boosted its position in shares of Trustmark by 54.5% during the fourth quarter. Deutsche Bank AG now owns 52,756 shares of the financial services provider’s stock valued at $1,866,000 after purchasing an additional 18,603 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Trustmark by 165.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 3,289 shares of the financial services provider’s stock valued at $116,000 after purchasing an additional 2,051 shares in the last quarter. 67.64% of the stock is owned by hedge funds and other institutional investors.

Trustmark Price Performance

NASDAQ:TRMK opened at $38.55 on Friday. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 10.04 and a beta of 0.66. Trustmark Corporation has a 1 year low of $29.77 and a 1 year high of $40.73. The business has a 50 day simple moving average of $35.94 and a 200-day simple moving average of $35.22. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. The firm had revenue of $231.83 million during the quarter, compared to analyst estimates of $195.38 million. Trustmark had a return on equity of 10.29% and a net margin of 20.73%. Equities analysts forecast that Trustmark Corporation will post 3.42 EPS for the current year.

Trustmark Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.96 dividend on an annualized basis and a yield of 2.49%. Trustmark’s dividend payout ratio is currently 25.00%.

Analyst Ratings Changes

Several research firms have commented on TRMK. Wall Street Zen downgraded Trustmark from a “buy” rating to a “hold” rating in a report on Saturday, June 7th. Keefe, Bruyette & Woods dropped their target price on Trustmark from $45.00 to $43.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Finally, Hovde Group boosted their target price on Trustmark from $36.00 to $37.00 and gave the stock a “market perform” rating in a report on Monday, April 28th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $39.80.

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.