Cubist Systematic Strategies LLC Has $3.41 Million Stock Position in Trustmark Co. (NASDAQ:TRMK)

Cubist Systematic Strategies LLC lifted its stake in Trustmark Co. (NASDAQ:TRMK - Free Report) by 486.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,448 shares of the financial services provider's stock after buying an additional 79,996 shares during the period. Cubist Systematic Strategies LLC owned about 0.16% of Trustmark worth $3,411,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp bought a new stake in Trustmark during the 4th quarter worth approximately $37,000. Sterling Capital Management LLC grew its position in Trustmark by 817.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,918 shares of the financial services provider's stock worth $68,000 after acquiring an additional 1,709 shares during the last quarter. KBC Group NV grew its position in Trustmark by 43.0% during the 4th quarter. KBC Group NV now owns 3,163 shares of the financial services provider's stock worth $112,000 after acquiring an additional 951 shares during the last quarter. Cibc World Markets Corp bought a new stake in Trustmark during the 4th quarter worth approximately $201,000. Finally, Blue Trust Inc. boosted its position in Trustmark by 19.0% in the 4th 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 during the last quarter. 67.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods reduced their price target on Trustmark from $45.00 to $43.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Janney Montgomery Scott assumed coverage on Trustmark in a research report on Friday, January 24th. They issued a "buy" rating and a $42.00 price target on the stock. DA Davidson raised their price objective on Trustmark from $40.00 to $41.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th. Finally, Hovde Group lifted their price target on Trustmark from $36.00 to $37.00 and gave the company a "market perform" rating in a research note on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $39.80.

Trustmark Stock Down 0.2%

Shares of NASDAQ:TRMK traded down $0.06 during midday trading on Friday, reaching $35.97. The company had a trading volume of 115,895 shares, compared to its average volume of 299,825. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The business's 50 day moving average price is $33.69 and its 200 day moving average price is $35.69. The stock has a market cap of $2.18 billion, a PE ratio of 9.88 and a beta of 0.63. Trustmark Co. has a 1-year low of $27.42 and a 1-year high of $40.73.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.06. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. The business had revenue of $231.83 million during the quarter, compared to analysts' expectations of $195.38 million. Research analysts forecast that Trustmark Co. will post 3.42 EPS for the current fiscal year.

Trustmark Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, May 30th. Trustmark's dividend payout ratio is presently 25.00%.

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.