Point72 Asset Management L.P. Acquires New Holdings in Trustmark Co. (NASDAQ:TRMK)

Point72 Asset Management L.P. acquired a new position in Trustmark Co. (NASDAQ:TRMK - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 18,400 shares of the financial services provider's stock, valued at approximately $651,000.

Other institutional investors also recently made changes to their positions in the company. AlphaQuest LLC boosted its position in Trustmark by 4.7% during the fourth quarter. AlphaQuest LLC now owns 10,157 shares of the financial services provider's stock valued at $359,000 after buying an additional 456 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in Trustmark by 1.0% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 54,274 shares of the financial services provider's stock valued at $1,920,000 after buying an additional 528 shares during the last quarter. Element Wealth LLC boosted its position in Trustmark by 6.3% during the 4th quarter. Element Wealth LLC now owns 9,018 shares of the financial services provider's stock valued at $319,000 after buying an additional 533 shares during the period. Swiss National Bank boosted its position in Trustmark by 0.7% during the 4th quarter. Swiss National Bank now owns 114,400 shares of the financial services provider's stock valued at $4,046,000 after buying an additional 800 shares during the period. Finally, Schonfeld Strategic Advisors LLC grew its holdings in Trustmark by 7.6% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 11,930 shares of the financial services provider's stock worth $422,000 after acquiring an additional 847 shares during the last quarter. Hedge funds and other institutional investors own 67.64% of the company's stock.

Trustmark Stock Down 0.8%

TRMK traded down $0.30 on Wednesday, hitting $34.96. The company had a trading volume of 25,313 shares, compared to its average volume of 302,609. Trustmark Co. has a 52-week low of $27.42 and a 52-week high of $40.73. The stock has a fifty day simple moving average of $33.91 and a 200-day simple moving average of $35.64. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. The firm has a market capitalization of $2.11 billion, a P/E ratio of 9.62 and a beta of 0.63.

Trustmark (NASDAQ:TRMK - Get Free Report) last issued 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. The firm had revenue of $231.83 million for the quarter, compared to analysts' expectations of $195.38 million. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. As a group, equities analysts expect that Trustmark Co. will post 3.42 EPS for the current fiscal year.

Trustmark Announces Dividend

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

Analyst Upgrades and Downgrades

TRMK has been the subject of a number of analyst reports. DA Davidson increased their target price on shares of Trustmark from $40.00 to $41.00 and gave the stock a "neutral" rating in a report on Thursday, January 30th. Hovde Group increased their price objective on Trustmark from $36.00 to $37.00 and gave the stock a "market perform" rating in a report on Monday, April 28th. Finally, Keefe, Bruyette & Woods reduced their target price on Trustmark from $45.00 to $43.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $39.80.

Trustmark 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.