Jacobs Levy Equity Management Inc. Cuts Stock Holdings in Trustmark Co. (NASDAQ:TRMK)

Jacobs Levy Equity Management Inc. reduced its stake in shares of Trustmark Co. (NASDAQ:TRMK) by 8.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,822 shares of the financial services provider’s stock after selling 4,319 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Trustmark were worth $1,400,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. EntryPoint Capital LLC bought a new position in Trustmark during the 1st quarter worth approximately $52,000. Arlington Trust Co LLC purchased a new position in shares of Trustmark in the fourth quarter worth $84,000. Russell Investments Group Ltd. bought a new stake in Trustmark during the 1st quarter valued at $240,000. Element Wealth LLC purchased a new stake in Trustmark during the 4th quarter valued at $246,000. Finally, Everence Capital Management Inc. purchased a new stake in Trustmark during the 1st quarter valued at $259,000. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. DA Davidson upped their price objective on shares of Trustmark from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Truist Financial upped their price target on Trustmark from $31.00 to $37.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a research report on Saturday, April 27th. Finally, Keefe, Bruyette & Woods upgraded Trustmark from a “market perform” rating to an “outperform” rating and upped their target price for the company from $30.00 to $36.00 in a report on Thursday, April 25th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Trustmark presently has an average rating of “Hold” and a consensus target price of $35.00.

Trustmark Stock Performance

Shares of TRMK opened at $33.13 on Friday. Trustmark Co. has a one year low of $18.96 and a one year high of $35.72. The firm has a market capitalization of $2.03 billion, a PE ratio of 12.89 and a beta of 0.75. The company has a 50-day simple moving average of $30.47 and a two-hundred day simple moving average of $28.66. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.87 and a quick ratio of 0.86.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.03. Trustmark had a net margin of 16.24% and a return on equity of 9.32%. The company had revenue of $283.96 million during the quarter, compared to analyst estimates of $229.83 million. During the same period last year, the business earned $0.74 EPS. On average, analysts anticipate that Trustmark Co. will post 2.37 EPS for the current fiscal year.

Trustmark Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.78%. Trustmark’s payout ratio is presently 35.80%.

About Trustmark

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.