Trexquant Investment LP Grows Stake in Trustmark Corporation $TRMK

Key Points

• Trexquant Investment LP increased its stake in Trustmark Corporation, acquiring a total of 125,516 shares, which is a 379.0% increase in its position during the first quarter.
• The company recently announced a quarterly dividend of $0.24 per share, translating to an annualized dividend yield of 2.4%.
• Trustmark's stock was reported to be down 0.6% at $40.27, with analysts predicting earnings per share of $3.42 for the current fiscal year.

Trexquant Investment LP raised its stake in Trustmark Corporation (NASDAQ:TRMK - Free Report) by 379.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 125,516 shares of the financial services provider's stock after buying an additional 99,313 shares during the quarter. Trexquant Investment LP owned approximately 0.21% of Trustmark worth $4,329,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TRMK. Lazard Asset Management LLC purchased a new position in shares of Trustmark during the 4th quarter worth $47,000. IFP Advisors Inc purchased a new position in shares of Trustmark during the 1st quarter worth $51,000. GAMMA Investing LLC grew its holdings in shares of Trustmark by 41.0% during the 1st quarter. GAMMA Investing LLC now owns 1,809 shares of the financial services provider's stock worth $62,000 after purchasing an additional 526 shares during the period. Mascagni Wealth Management Inc. purchased a new position in shares of Trustmark during the 4th quarter worth $82,000. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of Trustmark by 165.7% during 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 during the period. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

Trustmark Trading Up 1.7%

TRMK traded up $0.70 during mid-day trading on Thursday, hitting $40.78. 363,867 shares of the stock were exchanged, compared to its average volume of 313,224. The firm's fifty day moving average is $38.39 and its two-hundred day moving average is $35.79. Trustmark Corporation has a 1-year low of $29.77 and a 1-year high of $40.81. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The company has a market cap of $2.46 billion, a PE ratio of 11.46 and a beta of 0.71.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.06. The company had revenue of $203.44 million for the quarter, compared to analyst estimates of $200.35 million. Trustmark had a return on equity of 10.81% and a net margin of 19.21%.During the same quarter last year, the company earned $0.66 EPS. Equities analysts forecast that Trustmark Corporation will post 3.42 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.96 dividend on an annualized basis and a yield of 2.4%. Trustmark's dividend payout ratio (DPR) is currently 26.97%.

Analysts Set New Price Targets

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

Insider Transactions at Trustmark

In other Trustmark news, Director Marcelo L. Eduardo sold 700 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $38.49, for a total value of $26,943.00. Following the sale, the director owned 8,577 shares of the company's stock, valued at $330,128.73. This trade represents a 7.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gerard R. Host sold 1,556 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $40.63, for a total value of $63,220.28. The disclosure for this sale can be found here. Insiders sold a total of 23,226 shares of company stock worth $897,299 in the last ninety days. 1.50% of the stock is owned by corporate insiders.

About Trustmark

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.