Empowered Funds LLC Acquires New Stake in Trustmark Corporation $TRMK

Empowered Funds LLC acquired a new stake in Trustmark Corporation (NASDAQ:TRMK) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 265,345 shares of the financial services provider’s stock, valued at approximately $12,209,000. Empowered Funds LLC owned approximately 0.46% of Trustmark as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in shares of Trustmark by 27.0% in the first quarter. Royal Bank of Canada now owns 22,127 shares of the financial services provider’s stock valued at $764,000 after buying an additional 4,701 shares during the last quarter. AQR Capital Management LLC lifted its stake in Trustmark by 230.8% in the 1st quarter. AQR Capital Management LLC now owns 97,234 shares of the financial services provider’s stock worth $3,327,000 after purchasing an additional 67,841 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Trustmark by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,217 shares of the financial services provider’s stock worth $1,249,000 after purchasing an additional 1,592 shares during the last quarter. Millennium Management LLC grew its position in shares of Trustmark by 12.4% in the first quarter. Millennium Management LLC now owns 197,652 shares of the financial services provider’s stock valued at $6,817,000 after purchasing an additional 21,866 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Trustmark by 17.2% in the first quarter. Goldman Sachs Group Inc. now owns 470,756 shares of the financial services provider’s stock valued at $16,236,000 after purchasing an additional 69,110 shares during the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Stock Performance

Shares of TRMK stock opened at $46.27 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.89. The firm has a market cap of $2.69 billion, a P/E ratio of 11.74 and a beta of 0.65. The firm’s 50 day moving average price is $46.79 and its 200-day moving average price is $44.79. Trustmark Corporation has a one year low of $36.33 and a one year high of $49.00.

Trustmark (NASDAQ:TRMK) last announced its earnings results on Tuesday, July 28th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. Trustmark had a return on equity of 10.69% and a net margin of 20.75%.The company had revenue of $213.38 million for the quarter, compared to analyst estimates of $210.30 million. During the same quarter in the previous year, the company earned $0.92 earnings per share. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, equities research analysts predict that Trustmark Corporation will post 3.93 EPS for the current year.

Trustmark Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 1st. Trustmark’s dividend payout ratio is presently 25.38%.

Analyst Upgrades and Downgrades

TRMK has been the topic of a number of recent research reports. DA Davidson boosted their price objective on Trustmark from $46.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Piper Sandler raised their price objective on shares of Trustmark from $45.50 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Weiss Ratings raised shares of Trustmark from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, August 14th. Finally, Wall Street Zen raised shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $46.12.

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.