GRIMES & Co WEALTH MANAGEMENT LLC Invests $811,000 in Trustmark Corporation $TRMK

GRIMES & Co WEALTH MANAGEMENT LLC bought a new position in Trustmark Corporation (NASDAQ:TRMK) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 20,822 shares of the financial services provider’s stock, valued at approximately $811,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. raised its holdings in shares of Trustmark by 7.3% in the 3rd quarter. Federated Hermes Inc. now owns 369,109 shares of the financial services provider’s stock worth $14,617,000 after purchasing an additional 25,164 shares during the period. HB Wealth Management LLC grew its holdings in shares of Trustmark by 544.0% during the 3rd quarter. HB Wealth Management LLC now owns 70,211 shares of the financial services provider’s stock worth $2,780,000 after purchasing an additional 59,308 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Trustmark by 9.8% during the 3rd quarter. Principal Financial Group Inc. now owns 328,925 shares of the financial services provider’s stock worth $13,025,000 after purchasing an additional 29,302 shares during the period. Clark Capital Management Group Inc. increased its position in Trustmark by 13.5% during the 3rd quarter. Clark Capital Management Group Inc. now owns 352,468 shares of the financial services provider’s stock worth $13,958,000 after purchasing an additional 42,032 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its position in Trustmark by 29.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 266,557 shares of the financial services provider’s stock worth $10,556,000 after purchasing an additional 60,340 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Stock Performance

Trustmark stock opened at $44.73 on Friday. The firm has a market capitalization of $2.62 billion, a PE ratio of 11.83 and a beta of 0.66. Trustmark Corporation has a one year low of $33.39 and a one year high of $45.99. The stock’s 50 day moving average price is $43.23 and its 200 day moving average price is $41.36. 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 data on Tuesday, April 28th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.08. The company had revenue of $208.07 million during the quarter, compared to the consensus estimate of $204.98 million. Trustmark had a net margin of 20.12% and a return on equity of 10.74%. During the same quarter last year, the company earned $0.88 earnings per share. As a group, sell-side analysts expect that Trustmark Corporation will post 3.92 EPS for the current fiscal year.

Trustmark Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Monday, June 1st. Trustmark’s dividend payout ratio (DPR) is presently 26.46%.

Analysts Set New Price Targets

TRMK has been the topic of a number of recent research reports. Wall Street Zen raised shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $45.00 price objective on shares of Trustmark in a research report on Thursday, April 9th. Piper Sandler raised their target price on shares of Trustmark from $44.00 to $45.50 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Weiss Ratings restated a “buy (b)” rating on shares of Trustmark in a report on Monday, May 4th. Finally, Brean Capital assumed coverage on shares of Trustmark in a research report on Thursday, March 12th. They set a “buy” rating for the company. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $44.75.

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.