8,752 Shares in Trustmark Corporation $TRMK Purchased by Counterpoint Mutual Funds LLC

Key Points

• Counterpoint Mutual Funds LLC purchased 8,752 shares of Trustmark Corporation valued at approximately $319,000 during the second quarter.
• Trustmark reported a Q2 earnings per share (EPS) of $0.92, exceeding expectations of $0.86, along with a revenue of $203.44 million.
• The company announced a quarterly dividend of $0.24 per share, representing an annualized yield of 2.4% with a payout ratio of 26.97%.

Counterpoint Mutual Funds LLC acquired a new position in shares of Trustmark Corporation (NASDAQ:TRMK - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,752 shares of the financial services provider's stock, valued at approximately $319,000.

Other large investors have also made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in Trustmark during the first quarter worth about $508,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Trustmark during the fourth quarter worth about $212,000. Public Employees Retirement System of Ohio grew its position in Trustmark by 165.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 3,289 shares of the financial services provider's stock worth $116,000 after buying an additional 2,051 shares in the last quarter. IFP Advisors Inc acquired a new stake in Trustmark during the first quarter worth about $51,000. Finally, CWM LLC grew its position in Trustmark by 9.7% during the first quarter. CWM LLC now owns 5,655 shares of the financial services provider's stock worth $195,000 after buying an additional 502 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company's stock.

Trustmark Stock Performance

NASDAQ:TRMK opened at $40.37 on Thursday. Trustmark Corporation has a 1 year low of $29.77 and a 1 year high of $41.33. The firm has a 50 day moving average of $39.09 and a 200-day moving average of $36.19. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $2.44 billion, a P/E ratio of 11.34 and a beta of 0.71.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.06. Trustmark had a net margin of 19.21% and a return on equity of 10.81%. The company had revenue of $203.44 million during the quarter, compared to analysts' expectations of $200.35 million. During the same quarter in the previous year, the company posted $0.66 earnings per share. As a group, sell-side analysts anticipate that Trustmark Corporation will post 3.42 EPS for the current fiscal year.

Trustmark Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 1st were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, August 29th. Trustmark's payout ratio is 26.97%.

Insider Activity at Trustmark

In related news, Director Marcelo L. Eduardo sold 700 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $38.49, for a total value of $26,943.00. Following the completion of the transaction, the director owned 8,577 shares in the company, valued at $330,128.73. The trade was a 7.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gerard R. Host sold 20,970 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $38.49, for a total transaction of $807,135.30. Following the completion of the transaction, the director owned 158,360 shares of the company's stock, valued at $6,095,276.40. This trade represents a 11.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,226 shares of company stock valued at $897,299 in the last 90 days. 1.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TRMK has been the topic of a number of recent research reports. Wall Street Zen downgraded Trustmark from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Hovde Group lifted their price objective on Trustmark from $37.00 to $41.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. Finally, DA Davidson lifted their price objective on Trustmark from $39.00 to $43.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $41.00.

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.

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