Horizon Investments LLC Acquires New Position in Trustmark Corporation $TRMK

Key Points

• Horizon Investments LLC initiated a new position in Trustmark, buying 30,411 shares worth about $1.185 million (roughly 0.05% of the company).
• EPS beat: Trustmark reported Q1 EPS of $0.95 vs. $0.87 expected and revenue of $208.07M vs. $204.98M, and declared a quarterly dividend of $0.25 (annualized $1.00, ~2.2% yield).
• Institutional ownership stands at 67.64%, with UBS boosting its stake by 282% to 640,419 shares (~$24.94M); analysts carry a consensus "Hold" rating and an average target of $44.75.

Horizon Investments LLC acquired a new stake in shares of Trustmark Corporation (NASDAQ:TRMK - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 30,411 shares of the financial services provider's stock, valued at approximately $1,185,000. Horizon Investments LLC owned approximately 0.05% of Trustmark at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Barnes Pettey Financial Advisors LLC raised its holdings in shares of Trustmark by 4.1% during the 4th quarter. Barnes Pettey Financial Advisors LLC now owns 11,336 shares of the financial services provider's stock worth $442,000 after buying an additional 450 shares in the last quarter. M&T Bank Corp bought a new stake in shares of Trustmark during the 4th quarter worth $238,000. UBS Group AG boosted its stake in Trustmark by 282.0% in the fourth quarter. UBS Group AG now owns 640,419 shares of the financial services provider's stock valued at $24,944,000 after buying an additional 472,751 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Trustmark by 6.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,965 shares of the financial services provider's stock valued at $739,000 after acquiring an additional 1,138 shares during the last quarter. Finally, Blue Trust Inc. acquired a new position in Trustmark during the fourth quarter worth about $31,000. 67.64% of the stock is currently owned by institutional investors.

Trustmark Trading Up 0.4%

NASDAQ TRMK opened at $44.92 on Thursday. The firm has a market capitalization of $2.64 billion, a PE ratio of 11.88 and a beta of 0.66. The business's 50-day moving average price is $43.19 and its two-hundred day moving average price is $41.31. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11. Trustmark Corporation has a 12 month low of $33.39 and a 12 month high of $45.99.

Trustmark (NASDAQ:TRMK - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.87 by $0.08. Trustmark had a return on equity of 10.74% and a net margin of 20.12%.The company had revenue of $208.07 million during the quarter, compared to the consensus estimate of $204.98 million. During the same period last year, the company earned $0.88 earnings per share. On average, analysts expect that Trustmark Corporation will post 3.92 EPS for the current year.

Trustmark Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, June 1st. This represents a $1.00 annualized dividend and a yield of 2.2%. Trustmark's dividend payout ratio (DPR) is presently 26.46%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TRMK shares. DA Davidson restated a "neutral" rating and issued a $44.00 price target on shares of Trustmark in a research note on Wednesday, April 29th. Wall Street Zen raised shares of Trustmark from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Brean Capital began coverage on shares of Trustmark in a research report on Thursday, March 12th. They issued a "buy" rating on the stock. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $45.00 target price on shares of Trustmark in a research note on Thursday, April 9th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Trustmark in a report on Monday. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $44.75.

Trustmark Company Profile

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark's offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.

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