Legal & General Group Plc Invests $5.99 Million in Trustmark Corporation $TRMK

Legal & General Group Plc bought a new stake in Trustmark Corporation (NASDAQ:TRMK) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 130,201 shares of the financial services provider’s stock, valued at approximately $5,991,000.

A number of other hedge funds have also recently added to or reduced their stakes in TRMK. Hsbc Holdings PLC purchased a new position in Trustmark in the 4th quarter valued at $898,000. Bank of America Corp DE boosted its position in shares of Trustmark by 121.1% during the 1st quarter. Bank of America Corp DE now owns 316,772 shares of the financial services provider’s stock worth $13,349,000 after purchasing an additional 173,486 shares in the last quarter. UBS Group AG boosted its position in shares of Trustmark by 282.0% during the 4th quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock worth $24,944,000 after purchasing an additional 472,751 shares in the last quarter. Horizon Investments LLC acquired a new position in shares of Trustmark during the 4th quarter worth $1,185,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Trustmark during the 2nd quarter worth $1,859,000. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Trustmark Price Performance

Trustmark stock opened at $46.06 on Friday. Trustmark Corporation has a 52 week low of $36.33 and a 52 week high of $49.00. 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 firm’s 50-day simple moving average is $46.79 and its 200 day simple moving average is $44.84. The firm has a market capitalization of $2.67 billion, a PE ratio of 11.69 and a beta of 0.64.

Trustmark (NASDAQ:TRMK) last posted its earnings results on Tuesday, July 28th. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. The firm had revenue of $213.38 million during the quarter, compared to the consensus estimate of $210.30 million. Trustmark had a net margin of 20.75% and a return on equity of 10.69%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period last year, the firm posted $0.92 EPS. On average, equities research analysts predict that Trustmark Corporation will post 3.93 EPS for the current fiscal year.

Trustmark Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently commented on the stock. Wall Street Zen upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Piper Sandler increased their target price on shares of Trustmark from $45.50 to $47.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. DA Davidson lifted their price target on shares of Trustmark from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Finally, Weiss Ratings raised Trustmark from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Trustmark has an average rating of “Hold” and a consensus target price of $46.12.

About Trustmark

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.