The Manufacturers Life Insurance Company Invests $1.28 Million in Trustmark Corporation $TRMK

The Manufacturers Life Insurance Company bought a new stake in shares of Trustmark Corporation (NASDAQ:TRMK) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 27,887 shares of the financial services provider’s stock, valued at approximately $1,283,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sanctuary Advisors LLC bought a new position in Trustmark in the second quarter worth about $549,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Trustmark during the 2nd quarter valued at approximately $508,000. Northwestern Mutual Wealth Management Co. bought a new stake in Trustmark during the 2nd quarter valued at approximately $113,000. BlackRock Inc. purchased a new position in shares of Trustmark during the 2nd quarter worth approximately $395,920,000. Finally, Deutsche Bank AG purchased a new position in shares of Trustmark during the 2nd quarter worth approximately $2,679,000. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TRMK shares. DA Davidson raised their target price on Trustmark from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Weiss Ratings raised Trustmark from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, August 14th. Piper Sandler raised their price objective on Trustmark from $45.50 to $47.00 and gave the company a “neutral” rating in a research 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 analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Trustmark has a consensus rating of “Hold” and a consensus price target of $46.12.

Trustmark Price Performance

Shares of NASDAQ TRMK opened at $46.62 on Friday. Trustmark Corporation has a fifty-two week low of $36.33 and a fifty-two week high of $49.00. The company has a 50 day simple moving average of $46.79 and a two-hundred day simple moving average of $44.85. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 11.83 and a beta of 0.64. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.89.

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

Trustmark Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.00 dividend on an annualized basis and a yield of 2.1%. Trustmark’s payout ratio is presently 25.38%.

Trustmark Company 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.