Clark Capital Management Group Inc. Grows Stake in Trustmark Corporation $TRMK

Clark Capital Management Group Inc. boosted its holdings in shares of Trustmark Corporation (NASDAQ:TRMK) by 13.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 352,468 shares of the financial services provider’s stock after purchasing an additional 42,032 shares during the quarter. Clark Capital Management Group Inc. owned about 0.59% of Trustmark worth $13,958,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Richardson Financial Services Inc. grew its holdings in Trustmark by 86.7% during the 3rd quarter. Richardson Financial Services Inc. now owns 743 shares of the financial services provider’s stock valued at $29,000 after buying an additional 345 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Trustmark by 37.4% during the third quarter. Bessemer Group Inc. now owns 1,073 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 292 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake 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 valued at $46,000 after acquiring an additional 1,022 shares in the last quarter. LSV Asset Management purchased a new position in Trustmark during the third quarter valued at $83,000. Finally, Smith Shellnut Wilson LLC ADV bought a new stake in Trustmark in the 3rd quarter valued at $205,000. 67.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Brean Capital assumed coverage on shares of Trustmark in a report on Thursday. They set a “buy” rating for the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, January 21st. DA Davidson boosted their target price on Trustmark from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Wall Street Zen raised Trustmark from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Hovde Group raised their price target on Trustmark from $42.00 to $44.50 and gave the company a “market perform” rating in a report on Thursday, January 29th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.83.

Trustmark Stock Performance

Trustmark stock opened at $40.85 on Monday. The company’s 50-day moving average price is $42.42 and its 200-day moving average price is $40.39. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The company has a market cap of $2.40 billion, a PE ratio of 11.01 and a beta of 0.68. Trustmark Corporation has a twelve month low of $29.77 and a twelve month high of $45.43.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.06. Trustmark had a net margin of 19.95% and a return on equity of 10.77%. The firm had revenue of $209.44 million during the quarter, compared to the consensus estimate of $207.05 million. During the same quarter last year, the firm earned $0.92 EPS. On average, equities research analysts forecast that Trustmark Corporation will post 3.42 EPS for the current fiscal year.

Trustmark Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, March 15th. Stockholders of record on Sunday, March 1st were issued a $0.25 dividend. This is a positive change from Trustmark’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, February 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.4%. Trustmark’s dividend payout ratio (DPR) is presently 26.95%.

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.