BTG Pactual Asset Management US LLC Takes $538,000 Position in Trustmark Corporation $TRMK

BTG Pactual Asset Management US LLC acquired a new position in shares of Trustmark Corporation (NASDAQ:TRMK) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,689 shares of the financial services provider’s stock, valued at approximately $538,000.

A number of other hedge funds have also modified their holdings of the company. Rockefeller Capital Management L.P. raised its position 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 valued at $33,000 after buying an additional 779 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Trustmark during the 4th quarter worth approximately $36,000. Public Employees Retirement System of Ohio bought a new position in shares of Trustmark during the 2nd quarter worth approximately $39,000. EverSource Wealth Advisors LLC grew its stake in shares of Trustmark by 452.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 1,022 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Trustmark in the fourth quarter valued at approximately $55,000. 67.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Trustmark Stock Performance

NASDAQ TRMK opened at $45.92 on Tuesday. The firm has a market capitalization of $2.67 billion, a P/E ratio of 11.65 and a beta of 0.65. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11. The firm’s fifty day moving average price is $46.81 and its two-hundred day moving average price is $44.80. Trustmark Corporation has a 1 year low of $36.33 and a 1 year high of $49.00.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The company had revenue of $213.38 million during the quarter, compared to the consensus estimate of $210.30 million. Trustmark had a net margin of 20.75% and a return on equity of 10.69%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 EPS. As a group, research analysts anticipate that Trustmark Corporation will post 3.93 EPS for the current year.

Trustmark Announces Dividend

The company 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 annualized dividend and a yield of 2.2%. The ex-dividend date is Tuesday, September 1st. Trustmark’s dividend payout ratio (DPR) is 25.38%.

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.