SG Americas Securities LLC Takes $508,000 Position in Trustmark Corporation (NASDAQ:TRMK)

SG Americas Securities LLC acquired a new stake in Trustmark Corporation (NASDAQ:TRMK - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 14,734 shares of the financial services provider's stock, valued at approximately $508,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TRMK. Wellington Management Group LLP lifted its holdings in shares of Trustmark by 82.2% during the 4th quarter. Wellington Management Group LLP now owns 2,472,561 shares of the financial services provider's stock valued at $87,454,000 after buying an additional 1,115,708 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Trustmark by 176.2% during the 4th quarter. JPMorgan Chase & Co. now owns 339,662 shares of the financial services provider's stock valued at $12,014,000 after buying an additional 216,706 shares during the period. Trustmark National Bank Trust Department increased its stake in shares of Trustmark by 129.6% in the 4th quarter. Trustmark National Bank Trust Department now owns 299,423 shares of the financial services provider's stock worth $10,591,000 after purchasing an additional 169,011 shares in the last quarter. Norges Bank purchased a new stake in shares of Trustmark in the 4th quarter worth $5,704,000. Finally, Millennium Management LLC increased its stake in shares of Trustmark by 112.1% in the 4th quarter. Millennium Management LLC now owns 175,786 shares of the financial services provider's stock worth $6,218,000 after purchasing an additional 92,890 shares in the last quarter. 67.64% of the stock is owned by institutional investors.

Trustmark Price Performance

Shares of Trustmark stock traded up $0.54 during trading on Tuesday, reaching $35.43. 451,475 shares of the stock traded hands, compared to its average volume of 305,465. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 9.23 and a beta of 0.66. Trustmark Corporation has a 52-week low of $28.37 and a 52-week high of $40.73. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. The business has a fifty day simple moving average of $34.51 and a two-hundred day simple moving average of $35.05.

Trustmark (NASDAQ:TRMK - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.82 by $0.06. The company had revenue of $231.83 million during the quarter, compared to analyst estimates of $195.38 million. Trustmark had a return on equity of 10.29% and a net margin of 20.73%. Sell-side analysts expect that Trustmark Corporation will post 3.42 EPS for the current year.

Trustmark Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend was Friday, May 30th. Trustmark's payout ratio is currently 25.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Wall Street Zen lowered Trustmark from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Keefe, Bruyette & Woods reduced their price objective on Trustmark from $45.00 to $43.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Finally, Hovde Group upped their price objective on Trustmark from $36.00 to $37.00 and gave the stock a "market perform" rating in a research note on Monday, April 28th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Trustmark currently has an average rating of "Hold" and a consensus 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.