Arrowstreet Capital Limited Partnership Purchases 117,389 Shares of Trustmark Corporation $TRMK

Arrowstreet Capital Limited Partnership lifted its position in Trustmark Corporation (NASDAQ:TRMK) by 75.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 272,067 shares of the financial services provider’s stock after buying an additional 117,389 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Trustmark were worth $9,920,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State of Wyoming bought a new position in Trustmark in the 1st quarter worth $52,000. GAMMA Investing LLC increased its stake in shares of Trustmark by 23.2% in the second quarter. GAMMA Investing LLC now owns 2,228 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 419 shares during the period. Cetera Investment Advisers bought a new position in shares of Trustmark in the second quarter worth about $207,000. Mitchell Mcleod Pugh & Williams Inc. acquired a new position in shares of Trustmark during the 2nd quarter worth about $208,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Trustmark during the 2nd quarter worth about $211,000. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on TRMK shares. Zacks Research lowered Trustmark from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Wall Street Zen downgraded shares of Trustmark from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Trustmark in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Trustmark has a consensus rating of “Moderate Buy” and a consensus target price of $42.25.

Trustmark Trading Up 0.4%

Trustmark stock opened at $39.25 on Wednesday. The business has a 50 day moving average price of $38.49 and a two-hundred day moving average price of $38.05. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 10.72 and a beta of 0.71. Trustmark Corporation has a 12 month low of $29.77 and a 12 month high of $41.33.

Trustmark (NASDAQ:TRMK) last announced 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 firm had revenue of $207.53 million for the quarter, compared to analyst estimates of $206.13 million. Trustmark had a return on equity of 10.90% and a net margin of 19.82%.Trustmark’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.84 EPS. As a group, equities analysts forecast that Trustmark Corporation will post 3.42 EPS for the current year.

Trustmark Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Monday, December 1st. Trustmark’s payout ratio is 26.23%.

Trustmark Company 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.