13,827 Shares in Trustmark Corporation $TRMK Acquired by Convergence Investment Partners LLC

Convergence Investment Partners LLC bought a new stake in Trustmark Corporation (NASDAQ:TRMK) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 13,827 shares of the financial services provider’s stock, valued at approximately $548,000.

A number of other hedge funds have also modified their holdings of TRMK. Royal Bank of Canada increased its position in shares of Trustmark by 27.0% during the 1st quarter. Royal Bank of Canada now owns 22,127 shares of the financial services provider’s stock worth $764,000 after purchasing an additional 4,701 shares during the last quarter. AQR Capital Management LLC lifted its position in Trustmark by 230.8% in the first quarter. AQR Capital Management LLC now owns 97,234 shares of the financial services provider’s stock valued at $3,327,000 after buying an additional 67,841 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Trustmark by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,217 shares of the financial services provider’s stock worth $1,249,000 after buying an additional 1,592 shares during the period. Millennium Management LLC increased its position in shares of Trustmark by 12.4% during the first quarter. Millennium Management LLC now owns 197,652 shares of the financial services provider’s stock valued at $6,817,000 after acquiring an additional 21,866 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Trustmark by 17.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 470,756 shares of the financial services provider’s stock valued at $16,236,000 after acquiring an additional 69,110 shares during the period. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TRMK shares. Weiss Ratings restated a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, January 21st. Wall Street Zen lowered Trustmark from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. DA Davidson raised their price target on Trustmark from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Finally, Hovde Group lifted their price objective on Trustmark from $42.00 to $44.50 and gave the company a “market perform” rating in a research note on Thursday, January 29th. Two equities research 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.com, the company presently has an average rating of “Hold” and a consensus target price of $43.83.

Trustmark Stock Performance

NASDAQ:TRMK opened at $43.01 on Tuesday. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 11.59 and a beta of 0.69. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. Trustmark Corporation has a 52 week low of $29.77 and a 52 week high of $43.55. The company has a fifty day simple moving average of $40.35 and a two-hundred day simple moving average of $39.35.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.06. Trustmark had a return on equity of 10.77% and a net margin of 19.95%.The firm had revenue of $209.44 million during the quarter, compared to analyst estimates of $207.05 million. During the same period last year, the business posted $0.92 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 15th. Investors of record on Sunday, March 1st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.3%. This is a positive change from Trustmark’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, February 27th. Trustmark’s dividend payout ratio is 25.88%.

Trustmark Profile

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.