Trustmark Corporation $TRMK Shares Sold by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. has significantly reduced its stock position in Trustmark Corporation by 72.6%, now holding 24,111 shares valued at $832,000 after selling 63,756 shares in the first quarter.
• Trustmark Corporation declared a quarterly dividend of $0.24 to be paid on September 15th, representing an annualized dividend of $0.96 with a yield of 2.4%.
• The company recently reported robust quarterly earnings, with an EPS of $0.92, surpassing the consensus estimate of $0.86, and revenue of $203.44 million.

Jacobs Levy Equity Management Inc. lowered its position in Trustmark Corporation (NASDAQ:TRMK - Free Report) by 72.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 24,111 shares of the financial services provider's stock after selling 63,756 shares during the period. Jacobs Levy Equity Management Inc.'s holdings in Trustmark were worth $832,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of TRMK. Lazard Asset Management LLC bought a new stake in Trustmark during the 4th quarter valued at approximately $47,000. IFP Advisors Inc bought a new stake in shares of Trustmark during the first quarter valued at approximately $51,000. State of Wyoming purchased a new position in shares of Trustmark in the first quarter worth $52,000. GAMMA Investing LLC boosted its position in shares of Trustmark by 41.0% during 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 last quarter. Finally, Mascagni Wealth Management Inc. purchased a new position in Trustmark during the fourth quarter valued at $82,000. 67.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TRMK shares. Hovde Group increased their price target on Trustmark from $37.00 to $41.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th. Wall Street Zen lowered shares of Trustmark from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Finally, DA Davidson upped their price target on shares of Trustmark from $39.00 to $43.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Trustmark has an average rating of "Hold" and an average price target of $41.00.

Insider Activity

In other Trustmark news, Director Gerard R. Host sold 20,970 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $38.49, for a total transaction of $807,135.30. Following the completion of the sale, the director directly owned 158,360 shares of the company's stock, valued at approximately $6,095,276.40. This represents a 11.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Marcelo L. Eduardo sold 700 shares of Trustmark stock in a transaction on Monday, August 18th. The stock was sold at an average price of $38.49, for a total transaction of $26,943.00. Following the completion of the transaction, the director directly owned 8,577 shares in the company, valued at $330,128.73. This represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,226 shares of company stock worth $897,299 in the last quarter. 1.50% of the stock is owned by insiders.

Trustmark Trading Down 0.5%

TRMK stock traded down $0.20 during mid-day trading on Monday, reaching $39.98. The company had a trading volume of 266,681 shares, compared to its average volume of 213,409. The company has a market capitalization of $2.41 billion, a PE ratio of 11.23 and a beta of 0.71. The firm has a 50 day moving average of $38.81 and a 200 day moving average of $35.96. Trustmark Corporation has a 12 month low of $29.77 and a 12 month high of $41.33. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.86.

Trustmark (NASDAQ:TRMK - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.06. The company had revenue of $203.44 million during the quarter, compared to analyst estimates of $200.35 million. Trustmark had a net margin of 19.21% and a return on equity of 10.81%. During the same period in the prior year, the firm earned $0.66 earnings per share. On average, equities analysts predict that Trustmark Corporation will post 3.42 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, August 29th. Trustmark's dividend payout ratio is 26.97%.

Trustmark 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.