11,982 Shares in Trustmark Corporation (NASDAQ:TRMK) Purchased by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC has acquired a new stake in Trustmark Corporation, purchasing 11,982 shares valued at approximately $413,000.
• Trustmark recently reported a quarterly earnings per share of $0.92, exceeding the estimate of $0.86, with revenues of $203.44 million.
• The company has declared a quarterly dividend of $0.24 per share, representing an annualized yield of 2.6% and a payout ratio of 26.97%.

Natixis Advisors LLC bought a new position in Trustmark Corporation (NASDAQ:TRMK - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 11,982 shares of the financial services provider's stock, valued at approximately $413,000.

Several other hedge funds also recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new stake in shares of Trustmark during the fourth quarter worth $47,000. IFP Advisors Inc acquired a new stake in shares of Trustmark during the first quarter worth $51,000. GAMMA Investing LLC raised its holdings 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 period. Sterling Capital Management LLC raised its holdings in shares of Trustmark by 817.7% during the fourth 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. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of Trustmark during the fourth quarter worth $82,000. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TRMK has been the subject of a number of analyst reports. Keefe, Bruyette & Woods decreased their target price 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. DA Davidson raised their target price on shares of Trustmark from $39.00 to $43.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Wall Street Zen downgraded shares of Trustmark from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Finally, Hovde Group raised their target price on shares of Trustmark from $37.00 to $41.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $41.00.

Trustmark Stock Performance

Shares of TRMK traded down $0.30 during midday trading on Friday, reaching $38.83. The stock had a trading volume of 247,566 shares, compared to its average volume of 317,458. The firm has a 50 day simple moving average of $36.95 and a 200-day simple moving average of $35.60. Trustmark Corporation has a one year low of $29.77 and a one year high of $40.73. The firm has a market cap of $2.34 billion, a PE ratio of 10.89 and a beta of 0.70. The company has a current ratio of 0.88, 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 data on Tuesday, July 22nd. The financial services provider reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.06. Trustmark had a net margin of 19.21% and a return on equity of 10.81%. The company had revenue of $203.44 million during the quarter, compared to the consensus estimate of $200.35 million. During the same quarter last year, the firm posted $0.66 EPS. As a group, sell-side analysts anticipate that Trustmark Corporation will post 3.42 EPS for the current year.

Trustmark Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.5%. Trustmark's payout ratio is presently 26.97%.

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.