Tudor Investment Corp ET AL Grows Position in Trustmark Corporation $TRMK

Tudor Investment Corp ET AL grew its stake in Trustmark Corporation (NASDAQ:TRMK) by 11.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 206,748 shares of the financial services provider’s stock after buying an additional 21,472 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Trustmark were worth $8,187,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of TRMK. Wellington Management Group LLP boosted its position in Trustmark by 8.9% in the 3rd quarter. Wellington Management Group LLP now owns 3,883,882 shares of the financial services provider’s stock worth $153,802,000 after purchasing an additional 316,851 shares in the last quarter. Bridgeway Capital Management LLC boosted its position in 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 worth $6,022,000 after purchasing an additional 144,567 shares in the last quarter. American Century Companies Inc. boosted its position in Trustmark by 30.5% in the 3rd quarter. American Century Companies Inc. now owns 564,180 shares of the financial services provider’s stock worth $22,342,000 after purchasing an additional 132,023 shares in the last quarter. Bank of America Corp DE boosted its position in Trustmark by 80.4% in the 3rd quarter. Bank of America Corp DE now owns 267,147 shares of the financial services provider’s stock worth $10,579,000 after purchasing an additional 119,044 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Trustmark by 75.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 272,067 shares of the financial services provider’s stock valued at $9,920,000 after buying an additional 117,389 shares in the last quarter. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TRMK shares. Brean Capital started coverage on Trustmark in a research report on Thursday, March 12th. They set a “buy” rating on the stock. Hovde Group increased their target price on Trustmark from $42.00 to $44.50 and gave the company a “market perform” rating in a research report on Thursday, January 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Trustmark in a research report on Wednesday, January 21st. DA Davidson increased 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. Finally, Wall Street Zen upgraded Trustmark from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.83.

Trustmark Trading Up 1.2%

Shares of NASDAQ:TRMK opened at $43.09 on Tuesday. Trustmark Corporation has a 1 year low of $29.77 and a 1 year high of $45.43. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 11.61 and a beta of 0.65. 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 business’s 50 day moving average price is $42.78 and its 200-day moving average price is $40.57.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.97 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $207.05 million. During the same period in the prior year, the company earned $0.92 EPS. On average, equities research analysts forecast that Trustmark Corporation will post 3.42 earnings per share for the current fiscal year.

Trustmark Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, March 15th. Investors of record on Sunday, March 1st were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.00 annualized dividend and a yield of 2.3%. This is an increase from Trustmark’s previous quarterly dividend of $0.24. Trustmark’s dividend payout ratio is currently 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.