Dark Forest Capital Management LP Takes Position in Trustmark Co. (NASDAQ:TRMK)

Dark Forest Capital Management LP bought a new stake in shares of Trustmark Co. (NASDAQ:TRMK - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 9,894 shares of the financial services provider's stock, valued at approximately $350,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in Trustmark by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 6,686,247 shares of the financial services provider's stock worth $236,493,000 after acquiring an additional 30,057 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Trustmark by 82.2% in the fourth quarter. Wellington Management Group LLP now owns 2,472,561 shares of the financial services provider's stock worth $87,454,000 after purchasing an additional 1,115,708 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Trustmark by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 894,807 shares of the financial services provider's stock worth $31,649,000 after buying an additional 6,683 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Trustmark by 6.8% during the third quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider's stock valued at $19,059,000 after buying an additional 37,989 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Trustmark by 1.9% in the fourth quarter. Invesco Ltd. now owns 598,861 shares of the financial services provider's stock worth $21,182,000 after buying an additional 11,081 shares during the last quarter. 67.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Trustmark Stock Performance

Shares of TRMK traded up $0.83 during mid-day trading on Friday, hitting $34.91. The company's stock had a trading volume of 220,247 shares, compared to its average volume of 298,923. The stock's 50-day moving average is $33.69 and its two-hundred day moving average is $35.64. The firm has a market capitalization of $2.12 billion, a PE ratio of 9.59 and a beta of 0.67. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. Trustmark Co. has a one year low of $27.42 and a one 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.06. The company had revenue of $231.83 million for the quarter, compared to analyst estimates of $195.38 million. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. As a group, sell-side analysts anticipate that Trustmark Co. will post 3.42 EPS for the current year.

Trustmark Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be issued a $0.24 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.96 annualized dividend and a yield of 2.75%. Trustmark's dividend payout ratio (DPR) is 25.00%.

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.