SG Americas Securities LLC Buys 13,909 Shares of Trustmark Corporation $TRMK

SG Americas Securities LLC increased its stake in Trustmark Corporation (NASDAQ:TRMK) by 62.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,353 shares of the financial services provider’s stock after acquiring an additional 13,909 shares during the quarter. SG Americas Securities LLC’s holdings in Trustmark were worth $1,416,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in Trustmark by 8.9% during the 3rd quarter. Wellington Management Group LLP now owns 3,883,882 shares of the financial services provider’s stock valued at $153,802,000 after purchasing an additional 316,851 shares during the period. Bridgeway Capital Management LLC boosted its stake in shares of Trustmark by 1,927.6% in the 3rd quarter. Bridgeway Capital Management LLC now owns 152,067 shares of the financial services provider’s stock valued at $6,022,000 after purchasing an additional 144,567 shares during the last quarter. American Century Companies Inc. increased its position in shares of Trustmark by 30.5% during the third quarter. American Century Companies Inc. now owns 564,180 shares of the financial services provider’s stock worth $22,342,000 after buying an additional 132,023 shares during the period. Bank of America Corp DE increased its position in shares of Trustmark by 80.4% during the third quarter. Bank of America Corp DE now owns 267,147 shares of the financial services provider’s stock worth $10,579,000 after buying an additional 119,044 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in Trustmark by 75.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 272,067 shares of the financial services provider’s stock worth $9,920,000 after buying an additional 117,389 shares during the last quarter. 67.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TRMK shares. Hovde Group boosted their target price on shares of Trustmark from $42.00 to $44.50 and gave the company a “market perform” rating in a report on Thursday, January 29th. Wall Street Zen raised Trustmark from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Weiss Ratings restated a “buy (b-)” rating on shares of Trustmark in a research report on Wednesday, January 21st. Brean Capital started coverage on Trustmark in a research note on Thursday, March 12th. They set a “buy” rating for the company. Finally, DA Davidson lifted their target price on Trustmark from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Trustmark has a consensus rating of “Moderate Buy” and an average price target of $43.83.

Trustmark Stock Up 1.2%

Shares of NASDAQ TRMK opened at $43.09 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The firm has a market cap of $2.54 billion, a PE ratio of 11.61 and a beta of 0.65. The company’s fifty day simple moving average is $42.78 and its 200 day simple moving average is $40.57. Trustmark Corporation has a 12-month low of $29.77 and a 12-month high of $45.43.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.06. Trustmark had a net margin of 19.95% and a return on equity of 10.77%. The firm had revenue of $209.44 million during the quarter, compared to the consensus estimate of $207.05 million. During the same period in the previous year, the firm posted $0.92 earnings per share. As a group, sell-side analysts forecast 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 was paid on Sunday, March 15th. Investors of record on Sunday, March 1st were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Friday, February 27th. This is a positive change from Trustmark’s previous quarterly dividend of $0.24. Trustmark’s dividend payout ratio is presently 26.95%.

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.