Acadian Asset Management LLC Purchases Shares of 11,440 Trustmark Corp (TRMK)
Acadian Asset Management LLC purchased a new stake in shares of Trustmark Corp (NASDAQ:TRMK) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,440 shares of the financial services provider’s stock, valued at approximately $385,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of TRMK. Gradient Investments LLC purchased a new position in shares of Trustmark during the 2nd quarter valued at $169,000. OppenheimerFunds Inc. bought a new stake in shares of Trustmark during the 2nd quarter valued at $208,000. Leavell Investment Management Inc. bought a new stake in shares of Trustmark during the 2nd quarter valued at $209,000. Creative Planning bought a new stake in shares of Trustmark during the 2nd quarter valued at $227,000. Finally, CWM LLC bought a new stake in shares of Trustmark during the 2nd quarter valued at $299,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on TRMK. Zacks Investment Research upgraded Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday, November 8th. BidaskClub upgraded Trustmark from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. Hovde Group set a $35.00 price objective on Trustmark and gave the company a “hold” rating in a research note on Saturday, July 28th. SunTrust Banks decreased their price objective on Trustmark from $36.00 to $31.00 and set a “hold” rating on the stock in a research note on Monday, October 29th. Finally, Sandler O’Neill reiterated a “hold” rating and set a $35.00 price objective on shares of Trustmark in a research note on Thursday, July 26th. Eight research analysts have rated the stock with a hold rating, Trustmark presently has an average rating of “Hold” and a consensus target price of $34.50.
Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.03). The company had revenue of $157.23 million for the quarter, compared to the consensus estimate of $155.38 million. Trustmark had a net margin of 18.99% and a return on equity of 9.21%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 earnings per share. Research analysts forecast that Trustmark Corp will post 2.2 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 15th. Shareholders of record on Saturday, December 1st will be paid a $0.23 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.92 dividend on an annualized basis and a yield of 2.92%. Trustmark’s dividend payout ratio is currently 47.92%.
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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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