Sanctuary Advisors LLC Invests $549,000 in Trustmark Corporation $TRMK

Sanctuary Advisors LLC acquired a new stake in Trustmark Corporation (NASDAQ:TRMK) in the second quarter, Holdings Channel reports. The firm acquired 11,938 shares of the financial services provider’s stock, valued at approximately $549,000.

Several other large investors also recently modified their holdings of the company. Rockefeller Capital Management L.P. grew its holdings in Trustmark by 1,129.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 848 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 779 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Trustmark during the fourth quarter valued at approximately $36,000. EverSource Wealth Advisors LLC raised its holdings in Trustmark by 452.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock worth $46,000 after buying an additional 1,022 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Trustmark in the 4th quarter worth about $55,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of Trustmark in the second quarter worth approximately $63,000. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Trustmark Trading Up 0.1%

TRMK opened at $46.27 on Friday. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 11.74 and a beta of 0.65. The business has a 50 day simple moving average of $46.79 and a two-hundred day simple moving average of $44.79. Trustmark Corporation has a one year low of $36.33 and a one year high of $49.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.87.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. Trustmark had a net margin of 20.75% and a return on equity of 10.69%. The business had revenue of $213.38 million for the quarter, compared to the consensus estimate of $210.30 million. During the same period in the previous year, the firm earned $0.92 EPS. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. Analysts predict that Trustmark Corporation will post 3.93 EPS for the current year.

Trustmark Announces Dividend

The company also recently declared 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 of this dividend is Tuesday, September 1st. Trustmark’s dividend payout ratio is presently 25.38%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. DA Davidson raised their price target on shares of Trustmark from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Piper Sandler lifted their price objective on Trustmark from $45.50 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Weiss Ratings raised shares of Trustmark from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, August 14th. Finally, Wall Street Zen upgraded shares of 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 issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $46.12.

About Trustmark

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.