Wedge Capital Management L L P NC Buys 2,498 Shares of Trustmark Co. (NASDAQ:TRMK)

Wedge Capital Management L L P NC raised its stake in Trustmark Co. (NASDAQ:TRMK) by 11.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,137 shares of the financial services provider’s stock after acquiring an additional 2,498 shares during the period. Wedge Capital Management L L P NC’s holdings in Trustmark were worth $673,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Headlands Technologies LLC bought a new stake in Trustmark in the third quarter valued at $28,000. Arlington Trust Co LLC bought a new stake in Trustmark in the fourth quarter valued at $84,000. Nisa Investment Advisors LLC boosted its stake in Trustmark by 1,029.7% in the third quarter. Nisa Investment Advisors LLC now owns 6,055 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 5,519 shares in the last quarter. Advisor Resource Council acquired a new position in Trustmark in the fourth quarter worth $230,000. Finally, Diligent Investors LLC acquired a new position in Trustmark in the fourth quarter worth $248,000. 67.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on TRMK shares. TheStreet raised Trustmark from a “c+” rating to a “b” rating in a research note on Tuesday, January 23rd. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Keefe, Bruyette & Woods raised Trustmark from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $30.00 to $36.00 in a research note on Thursday. DA Davidson boosted their price objective on Trustmark from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $29.00 price target on shares of Trustmark in a research note on Tuesday, March 26th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Trustmark has a consensus rating of “Hold” and a consensus target price of $32.25.

Trustmark Trading Up 1.6 %

NASDAQ:TRMK opened at $29.82 on Friday. Trustmark Co. has a 1-year low of $18.96 and a 1-year high of $30.09. The business’s 50-day moving average price is $26.79 and its two-hundred day moving average price is $25.46. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 11.60 and a beta of 0.82.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.08. Trustmark had a return on equity of 10.04% and a net margin of 13.82%. The firm had revenue of $288.55 million for the quarter, compared to analyst estimates of $187.03 million. During the same quarter in the prior year, the firm posted $0.82 earnings per share. On average, equities analysts expect that Trustmark Co. will post 2.44 earnings per share for the current 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 issued a $0.23 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.92 annualized dividend and a dividend yield of 3.09%. Trustmark’s dividend payout ratio (DPR) is currently 35.80%.

About Trustmark

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.