Piermont Capital Management Inc. raised its stake in shares of Trustmark Corp (NASDAQ:TRMK) by 14.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,325 shares of the financial services provider’s stock after acquiring an additional 9,990 shares during the quarter. Piermont Capital Management Inc. owned approximately 0.12% of Trustmark worth $2,669,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Gradient Investments LLC bought a new position in Trustmark during the 2nd quarter valued at $169,000. OppenheimerFunds Inc. bought a new position in Trustmark during the 2nd quarter valued at $208,000. Leavell Investment Management Inc. bought a new position in Trustmark during the 2nd quarter valued at $209,000. Creative Planning bought a new position in Trustmark during the 2nd quarter valued at $227,000. Finally, Citadel Advisors LLC bought a new position in Trustmark during the 2nd quarter valued at $299,000. Hedge funds and other institutional investors own 62.17% of the company’s stock.
Shares of NASDAQ:TRMK opened at $31.22 on Friday. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 14.66 and a beta of 0.98. Trustmark Corp has a 1-year low of $28.56 and a 1-year high of $36.32. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.79 and a current ratio of 0.81.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 15th. Shareholders of record on Saturday, December 1st will be issued a dividend of $0.23 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.95%. Trustmark’s dividend payout ratio (DPR) is 47.92%.
A number of research analysts have commented on TRMK shares. BidaskClub upgraded shares of Trustmark from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. Sandler O’Neill reissued a “hold” rating and set a $35.00 target price on shares of Trustmark in a report on Thursday, July 26th. Hovde Group set a $35.00 target price on shares of Trustmark and gave the stock a “hold” rating in a report on Saturday, July 28th. Zacks Investment Research cut shares of Trustmark from a “hold” rating to a “sell” rating in a report on Thursday, October 11th. Finally, Stephens set a $35.00 target price on shares of Trustmark and gave the stock a “hold” rating in a report on Wednesday, October 24th. Eight equities research analysts have rated the stock with a hold rating, Trustmark currently has a consensus rating of “Hold” and a consensus price target of $34.50.
COPYRIGHT VIOLATION WARNING: “Trustmark Corp (TRMK) Shares Bought by Piermont Capital Management Inc.” was first posted by WKRB News and is owned by of WKRB News. If you are accessing this news story on another site, it was illegally copied and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this news story can be read at https://www.wkrb13.com/2018/11/11/trustmark-corp-trmk-shares-bought-by-piermont-capital-management-inc.html.
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 offers checking, savings, and money market accounts; individual retirement accounts; certificates of deposits; 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.
Featured Story: How to calculate compound interest
Receive News & Ratings for Trustmark Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trustmark and related companies with MarketBeat.com's FREE daily email newsletter.