Trustmark Corporation $TRMK Shares Sold by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC reduced its holdings in Trustmark Corporation by 27.7%, now owning 69,712 shares worth approximately $2.4 million.
• Trustmark recently declared a quarterly dividend of $0.24 per share, with a dividend yield of 2.4%, highlighting the company's commitment to shareholder returns.
• Trustmark's stock is currently priced at $40.25, having reported better-than-expected earnings for the last quarter, with an EPS of $0.92 compared to estimates of $0.86.

Cubist Systematic Strategies LLC trimmed its position in Trustmark Corporation (NASDAQ:TRMK - Free Report) by 27.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,712 shares of the financial services provider's stock after selling 26,736 shares during the quarter. Cubist Systematic Strategies LLC owned 0.12% of Trustmark worth $2,404,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP increased its position in Trustmark by 34.2% during the 1st quarter. Wellington Management Group LLP now owns 3,318,799 shares of the financial services provider's stock worth $114,465,000 after purchasing an additional 846,238 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Trustmark by 11.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 993,941 shares of the financial services provider's stock worth $34,281,000 after buying an additional 99,134 shares during the period. Northern Trust Corp increased its position in shares of Trustmark by 5.0% in the fourth quarter. Northern Trust Corp now owns 808,844 shares of the financial services provider's stock worth $28,609,000 after acquiring an additional 38,594 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Trustmark by 0.6% in the 1st quarter. Federated Hermes Inc. now owns 341,927 shares of the financial services provider's stock valued at $11,793,000 after acquiring an additional 2,050 shares during the period. Finally, Edgestream Partners L.P. lifted its holdings in shares of Trustmark by 172.9% during the 1st quarter. Edgestream Partners L.P. now owns 204,665 shares of the financial services provider's stock valued at $7,059,000 after acquiring an additional 129,679 shares in the last quarter. Hedge funds and other institutional investors own 67.64% of the company's stock.

Trustmark Stock Down 1.3%

Shares of NASDAQ TRMK opened at $40.25 on Friday. Trustmark Corporation has a 1 year low of $29.77 and a 1 year high of $41.34. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 11.31 and a beta of 0.71. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.88. The stock's 50-day simple moving average is $38.54 and its 200-day simple moving average is $35.81.

Trustmark (NASDAQ:TRMK - Get Free Report) last issued its quarterly earnings results 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 return on equity of 10.81% and a net margin of 19.21%.The firm had revenue of $203.44 million during the quarter, compared to the consensus estimate of $200.35 million. During the same quarter in the prior year, the business posted $0.66 earnings per share. As a group, equities analysts anticipate that Trustmark Corporation will post 3.42 earnings per share for the current fiscal year.

Trustmark Announces Dividend

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

Insider Buying and Selling

In other Trustmark news, Director Marcelo L. Eduardo sold 700 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $38.49, for a total transaction of $26,943.00. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gerard R. Host sold 1,556 shares of the firm's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $40.63, for a total transaction of $63,220.28. The disclosure for this sale can be found here. Insiders have sold 23,226 shares of company stock valued at $897,299 in the last three months. Corporate insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TRMK. Hovde Group increased their price target on Trustmark from $37.00 to $41.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. Wall Street Zen downgraded Trustmark from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Finally, DA Davidson upped 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. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $41.00.

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.

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