Gofen & Glossberg LLC IL acquired a new position in shares of Trustmark Corp (NASDAQ:TRMK) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 6,000 shares of the financial services provider’s stock, valued at approximately $205,000.
Several other hedge funds also recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new position in shares of Trustmark during the 3rd quarter worth about $390,000. Nomura Holdings Inc. purchased a new position in shares of Trustmark during the 2nd quarter worth about $663,000. Nuveen Asset Management LLC purchased a new position in shares of Trustmark during the 2nd quarter worth about $10,426,000. D. E. Shaw & Co. Inc. lifted its holdings in shares of Trustmark by 250.8% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 22,994 shares of the financial services provider’s stock worth $765,000 after acquiring an additional 16,440 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Trustmark during the 2nd quarter worth about $201,000. Institutional investors and hedge funds own 66.67% of the company’s stock.
In related news, insider Breck W. Tyler sold 19,398 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $33.70, for a total value of $653,712.60. Following the transaction, the insider now owns 23,656 shares in the company, valued at $797,207.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.50% of the company’s stock.
Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.08. Trustmark had a net margin of 21.20% and a return on equity of 9.28%. The firm had revenue of $157.40 million for the quarter, compared to analyst estimates of $156.35 million. During the same quarter last year, the firm posted $0.59 earnings per share. Sell-side analysts forecast that Trustmark Corp will post 2.34 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were issued a $0.23 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $0.92 annualized dividend and a yield of 2.69%. Trustmark’s payout ratio is 41.63%.
Several brokerages have recently weighed in on TRMK. ValuEngine upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a report on Wednesday. BidaskClub upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a report on Friday. Finally, Zacks Investment Research upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and an average target price of $34.00.
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 offers checking, savings, and money market accounts; individual retirement accounts; certificates of deposits; 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.
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