Wedge Capital Management L L P NC Has $865,000 Stock Position in Trustmark Co. (NASDAQ:TRMK)

Wedge Capital Management L L P NC lowered its stake in shares of Trustmark Co. (NASDAQ:TRMK) by 10.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,785 shares of the financial services provider’s stock after selling 3,429 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Trustmark were worth $865,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of Trustmark by 62.1% in the second quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 351 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Trustmark in the 1st quarter valued at $52,000. CWM LLC raised its position in shares of Trustmark by 14.6% during the second quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock worth $144,000 after acquiring an additional 611 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Trustmark during the first quarter valued at $240,000. Finally, Element Wealth LLC acquired a new stake in Trustmark in the fourth quarter worth about $246,000. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Stock Up 0.1 %

TRMK stock traded up $0.03 during mid-day trading on Friday, hitting $31.69. 57,978 shares of the company were exchanged, compared to its average volume of 277,825. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 0.87. Trustmark Co. has a 1-year low of $18.96 and a 1-year high of $35.72. The firm’s 50 day simple moving average is $30.85 and its 200 day simple moving average is $28.90. The firm has a market cap of $1.94 billion, a P/E ratio of 12.32 and a beta of 0.75.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.03. The firm had revenue of $283.96 million for the quarter, compared to the consensus estimate of $229.83 million. Trustmark had a return on equity of 9.32% and a net margin of 16.24%. During the same quarter last year, the business posted $0.74 EPS. On average, sell-side analysts predict that Trustmark Co. will post 2.37 EPS for the current fiscal year.

Trustmark Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.90%. Trustmark’s dividend payout ratio is currently 35.80%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TRMK shares. DA Davidson raised their target price on shares of Trustmark from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Saturday, April 27th. Keefe, Bruyette & Woods upgraded shares of Trustmark from a “market perform” rating to an “outperform” rating and upped their target price for the company from $30.00 to $36.00 in a research report on Thursday, April 25th. Finally, Truist Financial increased their price target on Trustmark from $31.00 to $37.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Trustmark currently has an average rating of “Hold” and an average price target of $35.00.

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.