Graham Capital Management L.P. bought a new stake in Trustmark Co. (NASDAQ:TRMK - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,046 shares of the financial services provider's stock, valued at approximately $285,000.
Several other hedge funds and other institutional investors have also made changes to their positions in TRMK. Jones Financial Companies Lllp purchased a new stake in shares of Trustmark in the fourth quarter valued at about $37,000. Sterling Capital Management LLC raised its position in Trustmark by 817.7% during the fourth 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 raised its position in shares of Trustmark by 43.0% in the fourth quarter. KBC Group NV now owns 3,163 shares of the financial services provider's stock valued at $112,000 after buying an additional 951 shares during the last quarter. Cibc World Markets Corp purchased a new stake in Trustmark in the fourth quarter valued at approximately $201,000. Finally, Blue Trust Inc. grew its stake in Trustmark by 19.0% during the fourth quarter. Blue Trust Inc. now owns 5,896 shares of the financial services provider's stock worth $209,000 after buying an additional 943 shares during the period. Hedge funds and other institutional investors own 67.64% of the company's stock.
Wall Street Analysts Forecast Growth
TRMK has been the subject of several research reports. 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. DA Davidson upped their price target on shares of Trustmark from $40.00 to $41.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods dropped their target price on shares of Trustmark from $45.00 to $43.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Finally, Janney Montgomery Scott started coverage on shares of Trustmark in a report on Friday, January 24th. They set a "buy" rating and a $42.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $39.80.
Check Out Our Latest Stock Report on TRMK
Trustmark Stock Performance
Shares of Trustmark stock traded down $0.10 during trading on Friday, hitting $34.61. 396,172 shares of the stock were exchanged, compared to its average volume of 304,046. The stock's fifty day moving average is $33.88 and its 200 day moving average is $35.72. The stock has a market cap of $2.09 billion, a PE ratio of 9.51 and a beta of 0.63. 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 12 month low of $27.42 and a 12 month high of $40.73.
Trustmark (NASDAQ:TRMK - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.82 by $0.06. The business had revenue of $231.83 million during 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 Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be given a dividend of $0.24 per share. The ex-dividend date is Friday, May 30th. This represents a $0.96 annualized dividend and a dividend yield of 2.77%. Trustmark's dividend payout ratio is currently 25.00%.
Trustmark Profile
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Free Report)
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.
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