GAMMA Investing LLC Boosts Stock Position in Trustmark Corporation (NASDAQ:TRMK)

GAMMA Investing LLC grew its stake in shares of Trustmark Corporation (NASDAQ:TRMK - Free Report) by 4,763.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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.

Other large investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new stake in shares of Trustmark during the fourth quarter valued at about $37,000. Lazard Asset Management LLC purchased a new position in Trustmark during the fourth quarter valued at approximately $47,000. Sterling Capital Management LLC increased its holdings in Trustmark by 817.7% during the 4th 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 period. Mascagni Wealth Management Inc. purchased a new stake in Trustmark in the 4th quarter worth approximately $82,000. Finally, Public Employees Retirement System of Ohio lifted its stake in Trustmark by 165.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 3,289 shares of the financial services provider's stock worth $116,000 after purchasing an additional 2,051 shares in the last quarter. Institutional investors own 67.64% of the company's stock.

Trustmark Price Performance

Shares of Trustmark stock traded down $0.25 on Tuesday, hitting $33.64. 244,600 shares of the company traded hands, compared to its average volume of 305,206. Trustmark Corporation has a 12-month low of $28.32 and a 12-month high of $40.73. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The company has a market cap of $2.03 billion, a P/E ratio of 8.76 and a beta of 0.66. The firm's 50-day simple moving average is $34.26 and its 200 day simple moving average is $35.19.

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, beating 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 business had revenue of $231.83 million for the quarter, compared to the consensus estimate of $195.38 million. Analysts expect that Trustmark Corporation will post 3.42 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Sunday, June 1st were given a $0.24 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.96 dividend on an annualized basis and a yield of 2.85%. Trustmark's payout ratio is 25.00%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TRMK. Keefe, Bruyette & Woods reduced their price target on shares of Trustmark from $45.00 to $43.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Hovde Group boosted their target price on Trustmark from $36.00 to $37.00 and gave the stock a "market perform" rating in a research report on Monday, April 28th. Finally, Wall Street Zen lowered Trustmark from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $39.80.

Trustmark Company 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.