Integrated Quantitative Investments LLC Invests $1.11 Million in Trustmark Corporation $TRMK

Integrated Quantitative Investments LLC purchased a new stake in Trustmark Corporation (NASDAQ:TRMK) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 28,111 shares of the financial services provider’s stock, valued at approximately $1,113,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. American Century Companies Inc. boosted its holdings in shares of Trustmark by 30.5% in the 3rd quarter. American Century Companies Inc. now owns 564,180 shares of the financial services provider’s stock valued at $22,342,000 after buying an additional 132,023 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Trustmark by 17.2% in the first 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 last quarter. Fisher Asset Management LLC boosted its stake in Trustmark by 13.6% in the second quarter. Fisher Asset Management LLC now owns 413,465 shares of the financial services provider’s stock valued at $15,075,000 after acquiring an additional 49,540 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Trustmark by 7.3% during the third quarter. Federated Hermes Inc. now owns 369,109 shares of the financial services provider’s stock worth $14,617,000 after purchasing an additional 25,164 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Trustmark by 9.8% during the third quarter. Principal Financial Group Inc. now owns 328,925 shares of the financial services provider’s stock worth $13,025,000 after purchasing an additional 29,302 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TRMK shares. DA Davidson upped their target price on Trustmark from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Trustmark in a research report on Wednesday, January 21st. Hovde Group upped their price target on shares of Trustmark from $42.00 to $44.50 and gave the company a “market perform” rating in a research report on Thursday, January 29th. Finally, Wall Street Zen cut shares of Trustmark from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Trustmark has a consensus rating of “Hold” and a consensus target price of $43.83.

Trustmark Stock Performance

NASDAQ:TRMK opened at $43.24 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.87. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 11.65 and a beta of 0.68. The firm’s fifty day moving average price is $42.12 and its 200 day moving average price is $40.27. Trustmark Corporation has a 1-year low of $29.77 and a 1-year high of $45.43.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, January 27th. The financial services provider reported $0.97 EPS for the quarter, topping 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 company had revenue of $209.44 million during the quarter, compared to analysts’ expectations of $207.05 million. During the same quarter last year, the business earned $0.92 EPS. On average, sell-side analysts expect that Trustmark Corporation will post 3.42 EPS for the current year.

Trustmark Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, March 15th. Shareholders of record on Sunday, March 1st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, February 27th. This is a positive change from Trustmark’s previous quarterly dividend of $0.24. Trustmark’s payout ratio is presently 26.95%.

Trustmark Company 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.