Cubist Systematic Strategies LLC Boosts Holdings in Trustmark Co. (NASDAQ:TRMK)

Cubist Systematic Strategies LLC increased its holdings in Trustmark Co. (NASDAQ:TRMK) by 486.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 96,448 shares of the financial services provider’s stock after acquiring an additional 79,996 shares during the period. Cubist Systematic Strategies LLC’s holdings in Trustmark were worth $3,411,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC increased its stake in shares of Trustmark by 124.7% in the third quarter. Barclays PLC now owns 125,743 shares of the financial services provider’s stock worth $4,001,000 after buying an additional 69,779 shares during the period. Principal Financial Group Inc. increased its holdings in Trustmark by 6.8% during the 3rd quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider’s stock valued at $19,059,000 after purchasing an additional 37,989 shares during the period. JPMorgan Chase & Co. raised its position in Trustmark by 10.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 122,956 shares of the financial services provider’s stock valued at $3,912,000 after purchasing an additional 11,934 shares during the last quarter. CIBC Asset Management Inc purchased a new stake in Trustmark in the 4th quarter worth approximately $217,000. Finally, BankPlus Wealth Management LLC bought a new stake in shares of Trustmark in the 4th quarter worth approximately $433,000. Institutional investors own 67.64% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on TRMK. Janney Montgomery Scott initiated coverage on Trustmark in a report on Friday, January 24th. They set a “buy” rating and a $42.00 target price for the company. DA Davidson raised their target price on shares of Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Keefe, Bruyette & Woods cut their target price on shares of Trustmark from $45.00 to $43.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Finally, Hovde Group increased their price target on shares of Trustmark from $36.00 to $37.00 and gave the stock a “market perform” rating in a research note on Monday, April 28th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $39.80.

Trustmark Trading Down 0.3 %

NASDAQ:TRMK opened at $35.12 on Friday. The firm has a market capitalization of $2.14 billion, a P/E ratio of 9.65 and a beta of 0.63. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. Trustmark Co. has a one year low of $27.42 and a one year high of $40.73. The company’s 50-day simple moving average is $33.56 and its 200 day simple moving average is $35.66.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.06. The company had revenue of $231.83 million for the quarter, compared to the consensus estimate of $195.38 million. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. As a group, analysts forecast that Trustmark Co. will post 3.42 EPS for the current fiscal year.

Trustmark Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, May 30th. Trustmark’s dividend payout ratio is presently 25.00%.

About Trustmark

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.