Sterling Capital Management LLC Lowers Position in Trustmark Corporation $TRMK

Sterling Capital Management LLC trimmed its holdings in shares of Trustmark Corporation (NASDAQ:TRMK) by 19.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,045 shares of the financial services provider’s stock after selling 14,210 shares during the quarter. Sterling Capital Management LLC’s holdings in Trustmark were worth $2,488,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of TRMK. Royal Bank of Canada boosted its stake 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 buying an additional 4,701 shares during the period. AQR Capital Management LLC raised its stake in shares of Trustmark by 230.8% in the 1st quarter. AQR Capital Management LLC now owns 97,234 shares of the financial services provider’s stock valued at $3,327,000 after acquiring an additional 67,841 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Trustmark by 4.6% in the 1st 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 acquiring an additional 1,592 shares during the period. Millennium Management LLC lifted its holdings in shares of Trustmark by 12.4% in the 1st quarter. Millennium Management LLC now owns 197,652 shares of the financial services provider’s stock worth $6,817,000 after acquiring an additional 21,866 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Trustmark by 17.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 470,756 shares of the financial services provider’s stock worth $16,236,000 after acquiring an additional 69,110 shares during the last quarter. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TRMK shares. DA Davidson reaffirmed a “neutral” rating and set a $44.00 price objective on shares of Trustmark in a research report on Wednesday, April 29th. Wall Street Zen upgraded Trustmark from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Piper Sandler upped their price target on Trustmark from $44.00 to $45.50 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Weiss Ratings upgraded Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 1st. Finally, Brean Capital initiated coverage on Trustmark in a research note on Thursday, March 12th. They issued a “buy” rating for the company. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $44.75.

Trustmark Price Performance

Shares of TRMK opened at $46.59 on Monday. The company’s 50-day simple moving average is $44.60 and its 200-day simple moving average is $42.93. 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 Corporation has a 1 year low of $35.96 and a 1 year high of $46.76. The stock has a market capitalization of $2.73 billion, a PE ratio of 12.33 and a beta of 0.65.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. Trustmark had a net margin of 20.12% and a return on equity of 10.74%. The firm had revenue of $208.07 million during the quarter, compared to analysts’ expectations of $204.98 million. During the same quarter in the previous year, the business posted $0.88 earnings per share. Analysts forecast that Trustmark Corporation will post 3.92 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.25 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.00 annualized dividend and a dividend yield of 2.1%. Trustmark’s payout ratio is 26.46%.

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.