Jacobs Levy Equity Management Inc. Cuts Stock Position in Trustmark Corporation $TRMK

Jacobs Levy Equity Management Inc. cut its holdings in Trustmark Corporation (NASDAQ:TRMK) by 72.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,111 shares of the financial services provider’s stock after selling 63,756 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Trustmark were worth $832,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TRMK. Lazard Asset Management LLC purchased a new stake in shares of Trustmark in the fourth quarter valued at approximately $47,000. IFP Advisors Inc purchased a new stake in shares of Trustmark during the first quarter worth approximately $51,000. State of Wyoming purchased a new stake in shares of Trustmark during the first quarter worth approximately $52,000. GAMMA Investing LLC increased its position in shares of Trustmark by 41.0% during the first quarter. GAMMA Investing LLC now owns 1,809 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 526 shares in the last quarter. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of Trustmark during the fourth quarter worth approximately $82,000. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trustmark

In other news, Director Gerard R. Host sold 20,970 shares of the company’s stock in a transaction on 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 owned 158,360 shares of the company’s stock, valued at $6,095,276.40. This represents a 11.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Marcelo L. Eduardo sold 700 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $38.49, for a total value of $26,943.00. Following the completion of the transaction, the director directly owned 8,577 shares in the company, valued at approximately $330,128.73. This trade represents a 7.55% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,226 shares of company stock worth $897,299. Corporate insiders own 1.50% of the company’s stock.

Trustmark Stock Performance

NASDAQ TRMK opened at $40.18 on Friday. Trustmark Corporation has a fifty-two week low of $29.77 and a fifty-two week high of $41.33. The stock’s fifty day moving average is $38.78 and its two-hundred day moving average is $35.94. The firm has a market capitalization of $2.43 billion, a P/E ratio of 11.29 and a beta of 0.71. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.88.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.86 by $0.06. Trustmark had a return on equity of 10.81% and a net margin of 19.21%.The business had revenue of $203.44 million for the quarter, compared to analyst estimates of $200.35 million. During the same quarter in the prior year, the company posted $0.66 EPS. On average, research analysts anticipate that Trustmark Corporation will post 3.42 earnings per share for the current year.

Trustmark Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, August 29th. Trustmark’s dividend payout ratio is 26.97%.

Analyst Ratings Changes

TRMK has been the subject of several research reports. Hovde Group boosted their price target on Trustmark from $37.00 to $41.00 and gave the stock a “market perform” rating in a research report on Thursday, July 24th. DA Davidson boosted their price target on Trustmark from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Finally, Wall Street Zen cut Trustmark from a “buy” rating to a “hold” rating in a research report on Saturday, June 7th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Trustmark has an average rating of “Hold” and a consensus price target of $41.00.

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.