Edgestream Partners L.P. Decreases Stake in Trustmark Corporation $TRMK

Edgestream Partners L.P. reduced its position in Trustmark Corporation (NASDAQ:TRMK) by 33.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 135,850 shares of the financial services provider’s stock after selling 68,815 shares during the period. Edgestream Partners L.P. owned 0.23% of Trustmark worth $4,953,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TRMK. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Trustmark during the 2nd quarter valued at $241,000. Barnes Pettey Financial Advisors LLC grew its position in shares of Trustmark by 22.6% in the second quarter. Barnes Pettey Financial Advisors LLC now owns 10,886 shares of the financial services provider’s stock valued at $397,000 after purchasing an additional 2,004 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Trustmark by 6.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 35,981 shares of the financial services provider’s stock valued at $1,311,000 after purchasing an additional 2,177 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Trustmark during the 2nd quarter worth about $606,000. Finally, GAMMA Investing LLC boosted its stake in Trustmark by 23.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,228 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 419 shares during the period. Institutional investors own 67.64% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Trustmark in a research report on Wednesday, October 8th. Zacks Research lowered shares of Trustmark from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Three 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.com, the company has a consensus rating of “Moderate Buy” and an average target price of $42.25.

Trustmark Trading Down 0.7%

Shares of TRMK opened at $38.56 on Wednesday. Trustmark Corporation has a 1-year low of $29.77 and a 1-year high of $41.33. The company has a market capitalization of $2.31 billion, a P/E ratio of 10.54 and a beta of 0.71. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.86. The firm’s 50 day simple moving average is $38.56 and its 200 day simple moving average is $37.90.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $0.94 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 company had revenue of $207.53 million during the quarter, compared to the consensus estimate of $206.13 million. During the same period in the previous year, the company earned $0.84 EPS. Trustmark’s quarterly revenue was up 5.3% on a year-over-year basis. Sell-side analysts forecast that Trustmark Corporation will post 3.42 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.24 per share. The ex-dividend date is Monday, December 1st. This represents a $0.96 dividend on an annualized basis and a yield of 2.5%. Trustmark’s dividend payout ratio (DPR) is presently 26.23%.

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.