Fox Run Management L.L.C. Takes Position in Trustmark Corporation $TRMK

Fox Run Management L.L.C. acquired a new stake in shares of Trustmark Corporation (NASDAQ:TRMK) during the 2nd quarter, Holdings Channel reports. The fund acquired 6,876 shares of the financial services provider’s stock, valued at approximately $251,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc acquired a new position in Trustmark in the 1st quarter valued at $51,000. State of Wyoming acquired a new position in Trustmark in the first quarter valued at $52,000. GAMMA Investing LLC lifted its position in Trustmark by 23.2% during the second quarter. GAMMA Investing LLC now owns 2,228 shares of the financial services provider’s stock worth $81,000 after buying an additional 419 shares during the period. CWM LLC lifted its position in Trustmark by 9.7% during the first quarter. CWM LLC now owns 5,655 shares of the financial services provider’s stock worth $195,000 after buying an additional 502 shares during the period. Finally, Mitchell Mcleod Pugh & Williams Inc. acquired a new stake in Trustmark in the 2nd quarter worth about $208,000. 67.64% of the stock is owned by hedge funds and other institutional investors.

Trustmark Stock Performance

NASDAQ TRMK opened at $38.17 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.86. Trustmark Corporation has a 1-year low of $29.77 and a 1-year high of $41.33. The firm has a market capitalization of $2.29 billion, a P/E ratio of 10.43 and a beta of 0.70. The business’s 50-day simple moving average is $39.05 and its 200-day simple moving average is $37.56.

Trustmark (NASDAQ:TRMK) last posted its earnings results on Tuesday, October 28th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Trustmark had a return on equity of 10.90% and a net margin of 19.82%.The business had revenue of $207.53 million for the quarter, compared to analyst estimates of $206.13 million. During the same period last year, the company posted $0.84 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities analysts predict that Trustmark Corporation will post 3.42 EPS for the current year.

Trustmark Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, December 1st. Trustmark’s dividend payout ratio (DPR) is currently 26.23%.

Insider Buying and Selling at Trustmark

In other Trustmark news, Director Gerard R. Host sold 20,970 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $38.49, for a total value of $807,135.30. Following the transaction, the director directly owned 158,360 shares of the company’s stock, valued at $6,095,276.40. This trade represents a 11.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Marcelo L. Eduardo sold 700 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $38.49, for a total value of $26,943.00. Following the transaction, the director owned 8,577 shares in the company, valued at approximately $330,128.73. This represents a 7.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 23,226 shares of company stock worth $897,299 in the last 90 days. Company insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Hovde Group upped their price objective on shares of Trustmark from $37.00 to $41.00 and gave the company a “market perform” rating in a research note on Thursday, July 24th. Zacks Research downgraded shares of Trustmark from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Trustmark in a research report on Wednesday, October 8th. Finally, DA Davidson upped their price target on shares of Trustmark from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Trustmark presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.25.

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.