Jupiter Topco LLC Invests $1.16 Million in Trustmark Corporation $TRMK

Jupiter Topco LLC acquired a new stake in Trustmark Corporation (NASDAQ:TRMK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,094 shares of the financial services provider’s stock, valued at approximately $1,155,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Royal Bank of Canada raised its position in Trustmark by 27.0% during the first quarter. Royal Bank of Canada now owns 22,127 shares of the financial services provider’s stock worth $764,000 after acquiring an additional 4,701 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Trustmark by 230.8% in the first quarter. AQR Capital Management LLC now owns 97,234 shares of the financial services provider’s stock valued at $3,327,000 after purchasing an additional 67,841 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Trustmark by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,217 shares of the financial services provider’s stock valued at $1,249,000 after purchasing an additional 1,592 shares during the last quarter. Millennium Management LLC grew its position in shares of Trustmark by 12.4% in the first quarter. Millennium Management LLC now owns 197,652 shares of the financial services provider’s stock valued at $6,817,000 after purchasing an additional 21,866 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Trustmark by 17.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 470,756 shares of the financial services provider’s stock worth $16,236,000 after purchasing an additional 69,110 shares in the last quarter. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

Trustmark Price Performance

Trustmark stock opened at $46.62 on Friday. The stock has a market capitalization of $2.71 billion, a P/E ratio of 11.83 and a beta of 0.64. Trustmark Corporation has a 12-month low of $36.33 and a 12-month 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. The firm’s 50-day moving average is $46.79 and its two-hundred day moving average is $44.85.

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

Trustmark Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on TRMK shares. Weiss Ratings upgraded Trustmark from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, August 14th. Wall Street Zen raised Trustmark from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Piper Sandler boosted their price target on Trustmark from $45.50 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Finally, DA Davidson upped their price objective on Trustmark from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $46.12.

Trustmark 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.