Trustmark Corp (TRMK) Shares Bought by Piermont Capital Management Inc.

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.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, October 23rd. The financial services provider reported $0.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.03). The business had revenue of $157.23 million for the quarter, compared to analyst estimates of $155.38 million. Trustmark had a return on equity of 9.21% and a net margin of 18.99%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the company posted $0.51 earnings per share. As a group, equities research analysts anticipate that Trustmark Corp will post 2.22 EPS for the current year.

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.

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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 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.

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Institutional Ownership by Quarter for Trustmark (NASDAQ:TRMK)

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