GAMMA Investing LLC boosted its stake in Trustmark Co. (NASDAQ:TRMK - Free Report) by 4,763.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,392 shares of the financial services provider's stock after acquiring an additional 61,109 shares during the period. GAMMA Investing LLC owned 0.10% of Trustmark worth $2,152,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. CIBC Asset Management Inc bought a new stake in Trustmark during the fourth quarter worth about $217,000. New York State Common Retirement Fund boosted its stake in shares of Trustmark by 8.3% during the 4th quarter. New York State Common Retirement Fund now owns 19,513 shares of the financial services provider's stock worth $690,000 after acquiring an additional 1,500 shares during the last quarter. Element Wealth LLC lifted its stake in shares of 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 in the last quarter. BankPlus Trust Department bought a new position in shares of Trustmark during the fourth quarter worth $842,000. Finally, Oppenheimer Asset Management Inc. raised its stake in Trustmark by 1.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 54,274 shares of the financial services provider's stock valued at $1,920,000 after purchasing an additional 528 shares in the last quarter. 67.64% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts have weighed in on the company. Hovde Group upped their target price on Trustmark from $36.00 to $37.00 and gave the stock a "market perform" rating in a report on Monday, April 28th. Wall Street Zen downgraded Trustmark from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Finally, 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 report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $39.80.
Get Our Latest Report on TRMK
Trustmark Stock Up 1.0%
Shares of NASDAQ:TRMK traded up $0.33 on Monday, hitting $34.29. 66,663 shares of the company's stock were exchanged, compared to its average volume of 304,576. Trustmark Co. has a 1-year low of $27.90 and a 1-year high of $40.73. The company has a market capitalization of $2.07 billion, a PE ratio of 9.42 and a beta of 0.66. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. The firm's 50-day moving average is $34.18 and its 200 day moving average is $35.24.
Trustmark (NASDAQ:TRMK - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.06. The business had revenue of $231.83 million for 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%. Sell-side analysts predict that Trustmark Co. will post 3.42 EPS for the current year.
Trustmark Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.80%. The ex-dividend date was Friday, May 30th. Trustmark's payout ratio is 25.00%.
Trustmark Profile
(
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.
Further Reading
Before you consider Trustmark, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Trustmark wasn't on the list.
While Trustmark currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
