Resolute Wealth Strategies LLC Buys Shares of 9,220 Trustmark Co. (NASDAQ:TRMK)

Resolute Wealth Strategies LLC purchased a new stake in shares of Trustmark Co. (NASDAQ:TRMK) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 9,220 shares of the financial services provider’s stock, valued at approximately $257,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TRMK. Victory Capital Management Inc. boosted its holdings in shares of Trustmark by 70.6% in the fourth quarter. Victory Capital Management Inc. now owns 270,237 shares of the financial services provider’s stock worth $7,534,000 after buying an additional 111,842 shares during the last quarter. Watershed Asset Management L.L.C. bought a new stake in shares of Trustmark during the 4th quarter valued at $286,000. Element Wealth LLC purchased a new stake in shares of Trustmark in the 4th quarter worth $246,000. Wedge Capital Management L L P NC increased its stake in shares of Trustmark by 11.5% in the 4th quarter. Wedge Capital Management L L P NC now owns 24,137 shares of the financial services provider’s stock worth $673,000 after purchasing an additional 2,498 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in Trustmark by 2,226.6% in the 4th quarter. Federated Hermes Inc. now owns 329,081 shares of the financial services provider’s stock worth $9,175,000 after purchasing an additional 314,937 shares during the period. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Analysts Set New Price Targets

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

Trustmark Price Performance

Shares of Trustmark stock traded up $0.28 during trading on Friday, reaching $30.86. 304,497 shares of the stock traded hands, compared to its average volume of 319,337. The business has a fifty day simple moving average of $27.22 and a two-hundred day simple moving average of $25.88. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 12.01 and a beta of 0.78. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.83. Trustmark Co. has a 52-week low of $18.96 and a 52-week high of $31.12.

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

Trustmark Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.92 annualized dividend and a yield of 2.98%. Trustmark’s dividend payout ratio (DPR) is 35.80%.

Trustmark Company 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.