Thoroughbred Financial Services LLC Trims Holdings in Trustmark Co. (NASDAQ:TRMK)

Thoroughbred Financial Services LLC lowered its position in shares of Trustmark Co. (NASDAQ:TRMK) by 15.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,644 shares of the financial services provider’s stock after selling 4,181 shares during the period. Thoroughbred Financial Services LLC’s holdings in Trustmark were worth $659,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Ignite Planners LLC grew its stake in shares of Trustmark by 924.4% during the fourth quarter. Ignite Planners LLC now owns 142,537 shares of the financial services provider’s stock worth $3,961,000 after acquiring an additional 128,623 shares during the last quarter. Trexquant Investment LP grew its position in shares of Trustmark by 235.7% in the third quarter. Trexquant Investment LP now owns 87,162 shares of the financial services provider’s stock valued at $1,894,000 after purchasing an additional 61,194 shares during the period. American Century Companies Inc. increased its stake in Trustmark by 28.8% during the 3rd quarter. American Century Companies Inc. now owns 372,172 shares of the financial services provider’s stock worth $8,087,000 after buying an additional 83,181 shares in the last quarter. MQS Management LLC purchased a new stake in shares of Trustmark during the third quarter worth approximately $283,000. Finally, Envestnet Asset Management Inc. raised its stake in Trustmark by 244.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 176,036 shares of the financial services provider’s stock valued at $3,825,000 after purchasing an additional 124,890 shares during the last quarter. 67.64% of the stock is owned by hedge funds and other institutional investors.

Trustmark Stock Performance

Shares of Trustmark stock opened at $30.45 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 11.85 and a beta of 0.78. The business has a 50-day moving average of $28.15 and a 200 day moving average of $26.77. Trustmark Co. has a 12 month low of $18.96 and a 12 month high of $31.23.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.08. The firm had revenue of $288.55 million during the quarter, compared to analysts’ expectations of $187.03 million. Trustmark had a net margin of 13.82% and a return on equity of 10.04%. During the same quarter in the previous year, the business posted $0.82 earnings per share. As a group, sell-side analysts forecast that Trustmark Co. will post 2.77 earnings per share for the current year.

Trustmark Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Investors of record on Saturday, June 1st will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.92 dividend on an annualized basis and a yield of 3.02%. Trustmark’s dividend payout ratio (DPR) is presently 35.80%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TRMK. Piper Sandler reissued a “neutral” rating and set a $29.00 price objective on shares of Trustmark in a research note on Tuesday, March 26th. Keefe, Bruyette & Woods upgraded Trustmark from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $30.00 to $36.00 in a report on Thursday, April 25th. Truist Financial increased their price objective on Trustmark from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a research note on Saturday, April 27th. Finally, TheStreet raised Trustmark from a “c+” rating to a “b” rating in a research report on Tuesday, January 23rd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.75.

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.