Financial Harvest LLC Makes New Investment in Trustmark Corporation (NASDAQ:TRMK)

Financial Harvest LLC bought a new stake in shares of Trustmark Corporation (NASDAQ:TRMK - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,981 shares of the financial services provider's stock, valued at approximately $482,000. Trustmark comprises about 0.3% of Financial Harvest LLC's portfolio, making the stock its 26th biggest holding.

Other hedge funds have also made changes to their positions in the company. CWM LLC grew its position in Trustmark by 9.7% in the first quarter. CWM LLC now owns 5,655 shares of the financial services provider's stock worth $195,000 after acquiring an additional 502 shares during the period. GAMMA Investing LLC grew its position in Trustmark by 41.0% in the first 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 during the period. Swiss National Bank grew its position in Trustmark by 0.7% in the fourth quarter. Swiss National Bank now owns 114,400 shares of the financial services provider's stock worth $4,046,000 after acquiring an additional 800 shares during the period. Schonfeld Strategic Advisors LLC grew its position in Trustmark by 7.6% in the fourth 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 period. Finally, Prudential Financial Inc. lifted its stake in Trustmark by 0.9% during the fourth quarter. Prudential Financial Inc. now owns 101,730 shares of the financial services provider's stock worth $3,881,000 after purchasing an additional 896 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company's stock.

Trustmark Stock Performance

Shares of NASDAQ TRMK traded up $0.25 during midday trading on Friday, reaching $38.55. 378,382 shares of the company were exchanged, compared to its average volume of 306,388. Trustmark Corporation has a 1 year low of $29.77 and a 1 year high of $40.73. The stock has a fifty day simple moving average of $35.94 and a 200 day simple moving average of $35.22. The stock has a market cap of $2.33 billion, a P/E ratio of 10.04 and a beta of 0.66. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09.

Trustmark (NASDAQ:TRMK - Get Free Report) last announced 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. Trustmark had a return on equity of 10.29% and a net margin of 20.73%. The business had revenue of $231.83 million for the quarter, compared to analyst estimates of $195.38 million. On average, research analysts forecast that Trustmark Corporation will post 3.42 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were paid a dividend of $0.24 per share. The ex-dividend date was Friday, May 30th. This represents a $0.96 annualized dividend and a dividend yield of 2.49%. Trustmark's dividend payout ratio is presently 25.00%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TRMK. Keefe, Bruyette & Woods reduced their price objective on Trustmark from $45.00 to $43.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Hovde Group raised 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. Finally, Wall Street Zen cut Trustmark from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Trustmark has an average rating of "Hold" and a consensus price target of $39.80.

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.