Empowered Funds LLC Sells 113,771 Shares of Trustmark Co. (NASDAQ:TRMK)

Empowered Funds LLC decreased its position in shares of Trustmark Co. (NASDAQ:TRMK) by 57.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,788 shares of the financial services provider’s stock after selling 113,771 shares during the period. Empowered Funds LLC owned approximately 0.14% of Trustmark worth $2,928,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. BankPlus Wealth Management LLC bought a new position in Trustmark during the fourth quarter worth about $433,000. KBC Group NV increased its holdings in shares of Trustmark by 43.0% during the fourth quarter. KBC Group NV now owns 3,163 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 951 shares during the period. Blue Trust Inc. raised its position in shares of Trustmark by 19.0% in the fourth quarter. Blue Trust Inc. now owns 5,896 shares of the financial services provider’s stock valued at $209,000 after buying an additional 943 shares in the last quarter. HB Wealth Management LLC boosted its stake in shares of Trustmark by 0.7% in the fourth quarter. HB Wealth Management LLC now owns 74,634 shares of the financial services provider’s stock valued at $2,640,000 after buying an additional 528 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Trustmark by 10.7% during the third quarter. JPMorgan Chase & Co. now owns 122,956 shares of the financial services provider’s stock worth $3,912,000 after buying an additional 11,934 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Trading Up 1.0 %

Shares of Trustmark stock opened at $37.97 on Friday. The firm has a market capitalization of $2.32 billion, a PE ratio of 10.43 and a beta of 0.76. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The firm’s 50 day moving average is $36.27 and its 200 day moving average is $34.86. Trustmark Co. has a 1 year low of $25.24 and a 1 year high of $40.73.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.09. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. Equities research analysts forecast that Trustmark Co. will post 3.4 earnings per share for the current fiscal year.

Trustmark Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.53%. This is a positive change from Trustmark’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, February 28th. Trustmark’s dividend payout ratio (DPR) is presently 26.37%.

Analysts Set New Price Targets

TRMK has been the subject of several analyst reports. DA Davidson lifted their price objective on Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Janney Montgomery Scott started coverage on shares of Trustmark in a report on Friday, January 24th. They issued a “buy” rating and a $42.00 target price on the stock. Truist Financial increased their price target on shares of Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Trustmark from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $38.67.

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.