Squarepoint Ops LLC Acquires 99,189 Shares of Trustmark Corporation $TRMK

Squarepoint Ops LLC raised its holdings in Trustmark Corporation (NASDAQ:TRMK) by 256.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,792 shares of the financial services provider’s stock after purchasing an additional 99,189 shares during the period. Squarepoint Ops LLC’s holdings in Trustmark were worth $5,024,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Wellington Management Group LLP boosted its holdings in Trustmark by 34.2% in the 1st quarter. Wellington Management Group LLP now owns 3,318,799 shares of the financial services provider’s stock worth $114,465,000 after buying an additional 846,238 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Trustmark by 11.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 993,941 shares of the financial services provider’s stock worth $34,281,000 after acquiring an additional 99,134 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Trustmark by 17.2% during the first quarter. Goldman Sachs Group Inc. now owns 470,756 shares of the financial services provider’s stock worth $16,236,000 after acquiring an additional 69,110 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Trustmark by 13.6% in the second quarter. Fisher Asset Management LLC now owns 413,465 shares of the financial services provider’s stock worth $15,075,000 after acquiring an additional 49,540 shares during the period. Finally, Federated Hermes Inc. grew its position in shares of Trustmark by 0.6% in the second quarter. Federated Hermes Inc. now owns 343,945 shares of the financial services provider’s stock valued at $12,540,000 after purchasing an additional 2,018 shares in the last quarter. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on TRMK shares. Zacks Research lowered Trustmark from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. Wall Street Zen cut Trustmark from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.25.

Trustmark Stock Performance

Shares of TRMK opened at $40.78 on Tuesday. Trustmark Corporation has a 12-month low of $29.77 and a 12-month high of $41.33. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09. The company has a market cap of $2.45 billion, a PE ratio of 11.14 and a beta of 0.71. The stock has a 50-day moving average price of $38.60 and a 200-day moving average price of $38.21.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). The company had revenue of $207.53 million during the quarter, compared to the consensus estimate of $206.13 million. Trustmark had a return on equity of 10.90% and a net margin of 19.82%.The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the company posted $0.84 earnings per share. As a group, equities analysts forecast that Trustmark Corporation will post 3.42 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a dividend of $0.24 per share. The ex-dividend date was Monday, December 1st. This represents a $0.96 annualized dividend and a dividend yield of 2.4%. Trustmark’s dividend payout ratio (DPR) is 26.23%.

Trustmark 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 operates through three segments: General Banking, Wealth Management, and Insurance. It offers checking, savings, and money market accounts; certificates of deposits and individual retirement accounts; 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, as well as treasury management services.