Edgestream Partners L.P. Boosts Stake in Trustmark Corporation (NASDAQ:TRMK)

Edgestream Partners L.P. increased its position in shares of Trustmark Corporation (NASDAQ:TRMK - Free Report) by 172.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 204,665 shares of the financial services provider's stock after purchasing an additional 129,679 shares during the quarter. Edgestream Partners L.P. owned approximately 0.34% of Trustmark worth $7,059,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp purchased a new stake in Trustmark in the 4th quarter valued at $37,000. Lazard Asset Management LLC acquired a new position in Trustmark during the 4th quarter worth about $47,000. GAMMA Investing LLC lifted its stake in Trustmark by 41.0% during the 1st quarter. GAMMA Investing LLC now owns 1,809 shares of the financial services provider's stock worth $62,000 after acquiring an additional 526 shares in the last quarter. Sterling Capital Management LLC raised its position in Trustmark by 817.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,918 shares of the financial services provider's stock valued at $68,000 after purchasing an additional 1,709 shares in the last quarter. Finally, Mascagni Wealth Management Inc. acquired a new stake in Trustmark in the 4th quarter valued at about $82,000. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TRMK. Wall Street Zen lowered Trustmark from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Keefe, Bruyette & Woods lowered 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. 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $39.80.

Trustmark Price Performance

TRMK traded up $0.17 during trading on Friday, reaching $38.47. 187,503 shares of the stock were exchanged, compared to its average volume of 306,115. Trustmark Corporation has a 1 year low of $29.77 and a 1 year high of $40.73. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 10.02 and a beta of 0.66. The business's 50 day moving average price is $35.87 and its two-hundred day moving average price is $35.20. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86.

Trustmark (NASDAQ:TRMK - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.82 by $0.06. Trustmark had a return on equity of 10.29% and a net margin of 20.73%. The company had revenue of $231.83 million during the quarter, compared to analysts' expectations of $195.38 million. As a group, equities research analysts anticipate that Trustmark Corporation will post 3.42 earnings per share for the current year.

Trustmark Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Sunday, June 1st were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.96 annualized dividend and a yield of 2.50%. Trustmark's payout ratio is currently 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.