North Reef Capital Management LP Purchases Shares of 1,952,930 Trustmark Corporation $TRMK

North Reef Capital Management LP purchased a new stake in Trustmark Corporation (NASDAQ:TRMK) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 1,952,930 shares of the financial services provider’s stock, valued at approximately $82,296,000. Trustmark comprises 2.8% of North Reef Capital Management LP’s investment portfolio, making the stock its 11th largest holding.

Other large investors have also modified their holdings of the company. Hsbc Holdings PLC purchased a new position in shares of Trustmark during the 4th quarter valued at approximately $898,000. UBS Group AG raised its holdings in Trustmark by 282.0% in the 4th quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock valued at $24,944,000 after acquiring an additional 472,751 shares during the last quarter. Horizon Investments LLC purchased a new position in Trustmark in the 4th quarter worth approximately $1,185,000. Tudor Investment Corp ET AL lifted its position in Trustmark by 11.6% during the third quarter. Tudor Investment Corp ET AL now owns 206,748 shares of the financial services provider’s stock worth $8,187,000 after buying an additional 21,472 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Trustmark by 62.0% in the fourth quarter. SG Americas Securities LLC now owns 36,353 shares of the financial services provider’s stock valued at $1,416,000 after purchasing an additional 13,909 shares during the period. Institutional investors and hedge funds own 67.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Weiss Ratings upgraded Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, June 1st. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $45.00 target price on shares of Trustmark in a research note on Thursday, April 9th. Piper Sandler lifted their price objective on shares of Trustmark from $44.00 to $45.50 and gave the company a “neutral” rating in a report on Thursday, April 30th. Wall Street Zen upgraded Trustmark from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $44.00 price target on shares of Trustmark in a research report on Wednesday, April 29th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Trustmark has a consensus rating of “Hold” and an average price target of $44.75.

Trustmark Stock Up 1.1%

Trustmark stock opened at $46.61 on Friday. Trustmark Corporation has a 1-year low of $36.05 and a 1-year high of $48.00. The stock has a market cap of $2.73 billion, a PE ratio of 12.33 and a beta of 0.65. 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 stock’s fifty day moving average is $45.36 and its two-hundred day moving average is $43.78.

Trustmark (NASDAQ:TRMK) last posted its earnings results on Tuesday, April 28th. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.08. The firm had revenue of $208.07 million during the quarter, compared to analysts’ expectations of $204.98 million. Trustmark had a return on equity of 10.74% and a net margin of 20.12%.During the same quarter in the previous year, the business earned $0.88 earnings per share. On average, sell-side analysts expect that Trustmark Corporation will post 3.92 EPS for the current fiscal year.

Trustmark Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, June 1st. Trustmark’s dividend payout ratio (DPR) is 26.46%.

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.