30,600 Shares in Trustmark Co. (NASDAQ:TRMK) Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new position in shares of Trustmark Co. (NASDAQ:TRMK) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 30,600 shares of the financial services provider’s stock, valued at approximately $853,000. Louisiana State Employees Retirement System owned 0.05% of Trustmark as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ignite Planners LLC boosted its holdings in Trustmark by 924.4% in the 4th quarter. Ignite Planners LLC now owns 142,537 shares of the financial services provider’s stock valued at $3,961,000 after purchasing an additional 128,623 shares during the period. Trexquant Investment LP boosted its holdings in Trustmark by 235.7% in the 3rd quarter. Trexquant Investment LP now owns 87,162 shares of the financial services provider’s stock valued at $1,894,000 after purchasing an additional 61,194 shares during the period. American Century Companies Inc. boosted its holdings in Trustmark by 28.8% in the 3rd quarter. American Century Companies Inc. now owns 372,172 shares of the financial services provider’s stock valued at $8,087,000 after purchasing an additional 83,181 shares during the period. MQS Management LLC bought a new stake in Trustmark in the 3rd quarter valued at about $283,000. Finally, Envestnet Asset Management Inc. boosted its holdings in Trustmark by 244.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 176,036 shares of the financial services provider’s stock valued at $3,825,000 after purchasing an additional 124,890 shares during the period. Institutional investors own 67.64% of the company’s stock.

Trustmark Price Performance

TRMK stock opened at $30.05 on Friday. The company has a 50 day simple moving average of $26.83 and a 200 day simple moving average of $25.49. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 11.69 and a beta of 0.82. Trustmark Co. has a 1 year low of $18.96 and a 1 year high of $30.21. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.84.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data 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. The business had revenue of $288.55 million during the quarter, compared to analysts’ expectations of $187.03 million. Trustmark had a net margin of 13.82% and a return on equity of 10.04%. During the same period in the prior year, the company earned $0.82 EPS. Research analysts anticipate that Trustmark Co. will post 2.44 EPS for the current fiscal year.

Trustmark Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.06%. The ex-dividend date is Friday, May 31st. Trustmark’s dividend payout ratio (DPR) is currently 35.80%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TRMK shares. Piper Sandler reaffirmed a “neutral” rating and set a $29.00 price target on shares of Trustmark in a report on Tuesday, March 26th. Truist Financial upped their price target on shares of Trustmark from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Friday. StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a report on Saturday. TheStreet raised shares of Trustmark from a “c+” rating to a “b” rating in a report on Tuesday, January 23rd. Finally, Keefe, Bruyette & Woods raised shares of Trustmark from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $30.00 to $36.00 in a report on Thursday. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $32.75.

Trustmark 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.