Trustmark Corporation (TRMK) Shares Sold by Acadian Asset Management LLC
Acadian Asset Management LLC cut its position in Trustmark Corporation (NASDAQ:TRMK) by 68.0% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 5,318 shares of the financial services provider’s stock after selling 11,287 shares during the period. Acadian Asset Management LLC’s holdings in Trustmark Corporation were worth $169,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Flinton Capital Management LLC acquired a new position in Trustmark Corporation during the fourth quarter worth approximately $101,000. Creative Planning increased its stake in Trustmark Corporation by 1.7% in the first quarter. Creative Planning now owns 3,464 shares of the financial services provider’s stock worth $110,000 after buying an additional 59 shares during the last quarter. Parallel Advisors LLC purchased a new stake in Trustmark Corporation during the fourth quarter worth about $142,000. Bank of Montreal Can increased its stake in Trustmark Corporation by 0.3% in the first quarter. Bank of Montreal Can now owns 5,759 shares of the financial services provider’s stock worth $182,000 after buying an additional 20 shares during the last quarter. Finally, Elkfork Partners LLC purchased a new stake in Trustmark Corporation during the fourth quarter worth about $215,000. 63.26% of the stock is currently owned by institutional investors.
Shares of Trustmark Corporation (NASDAQ TRMK) traded down 0.33% during midday trading on Friday, hitting $33.03. The company’s stock had a trading volume of 1,088,475 shares. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 19.91 and a beta of 1.12. Trustmark Corporation has a 12-month low of $22.95 and a 12-month high of $36.79. The firm has a 50-day moving average of $32.20 and a 200 day moving average of $33.10.
Trustmark Corporation (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.04. Trustmark Corporation had a return on equity of 7.78% and a net margin of 18.41%. The firm had revenue of $148.46 million during the quarter, compared to the consensus estimate of $144.60 million. During the same period in the prior year, the firm earned $0.40 EPS. On average, equities research analysts predict that Trustmark Corporation will post $1.78 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.79%. Trustmark Corporation’s dividend payout ratio is presently 55.09%.
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A number of analysts have issued reports on TRMK shares. Stephens reaffirmed a “hold” rating on shares of Trustmark Corporation in a research note on Wednesday, April 26th. Zacks Investment Research upgraded Trustmark Corporation from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Tuesday, April 4th. Hovde Group upgraded Trustmark Corporation from a “market perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a report on Wednesday, March 22nd. Keefe, Bruyette & Woods set a $31.00 target price on Trustmark Corporation and gave the stock a “hold” rating in a report on Monday, April 10th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $35.00 target price on shares of Trustmark Corporation in a report on Friday, May 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $35.00.
In other news, insider Duane A. Dewey sold 5,748 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $30.85, for a total transaction of $177,325.80. Following the completion of the sale, the insider now directly owns 27,909 shares in the company, valued at $860,992.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Harry M. Walker sold 7,381 shares of the firm’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $33.53, for a total value of $247,484.93. The disclosure for this sale can be found here. 1.37% of the stock is owned by company insiders.
Trustmark Corporation Company Profile
Trustmark Corporation is a bank holding company. The Company’s principal subsidiary is Trustmark National Bank (TNB). Through TNB and its subsidiaries, the Company operates as a financial services company providing banking and other financial solutions. It operates through three segments: General Banking, Wealth Management and Insurance.
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