Point72 Asset Management L.P. increased its holdings in shares of Trustmark Corp (NASDAQ:TRMK) by 32.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,510 shares of the financial services provider’s stock after purchasing an additional 4,249 shares during the quarter. Point72 Asset Management L.P.’s holdings in Trustmark were worth $597,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of TRMK. California State Teachers Retirement System grew its stake in Trustmark by 1.2% during the third quarter. California State Teachers Retirement System now owns 100,263 shares of the financial services provider’s stock worth $3,420,000 after buying an additional 1,198 shares during the period. Great Lakes Advisors LLC raised its stake in shares of Trustmark by 3.9% in the 3rd quarter. Great Lakes Advisors LLC now owns 110,931 shares of the financial services provider’s stock valued at $3,783,000 after acquiring an additional 4,183 shares during the period. Alps Advisors Inc. purchased a new position in shares of Trustmark in the 3rd quarter valued at $363,000. Newport Trust Co acquired a new position in shares of Trustmark during the 3rd quarter valued at $29,454,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Trustmark by 259.2% during the 3rd quarter. SG Americas Securities LLC now owns 17,744 shares of the financial services provider’s stock valued at $605,000 after acquiring an additional 12,804 shares in the last quarter. Hedge funds and other institutional investors own 66.67% of the company’s stock.
TRMK has been the subject of several analyst reports. ValuEngine raised Trustmark from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. BidaskClub downgraded Trustmark from a “hold” rating to a “sell” rating in a report on Saturday, November 23rd. Finally, Zacks Investment Research raised Trustmark from a “sell” rating to a “hold” rating in a research report on Saturday, October 26th. Three investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The company has a consensus rating of “Hold” and an average target price of $35.00.
Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.02. The company had revenue of $160.05 million during the quarter, compared to analyst estimates of $160.21 million. Trustmark had a net margin of 21.68% and a return on equity of 9.51%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period last year, the business earned $0.54 EPS. As a group, equities research analysts forecast that Trustmark Corp will post 2.37 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.92 annualized dividend and a dividend yield of 2.66%. Trustmark’s payout ratio is 41.63%.
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 offers checking, savings, and money market accounts; individual retirement accounts; certificates of deposits; 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.
See Also: Institutional Investors
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