Cubist Systematic Strategies LLC Boosts Holdings in Trustmark Co. (NASDAQ:TRMK)

Cubist Systematic Strategies LLC boosted its position in Trustmark Co. (NASDAQ:TRMK) by 486.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 96,448 shares of the financial services provider’s stock after purchasing an additional 79,996 shares during the period. Cubist Systematic Strategies LLC owned about 0.16% of Trustmark worth $3,411,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Trustmark by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 6,686,247 shares of the financial services provider’s stock worth $236,493,000 after acquiring an additional 30,057 shares during the period. Wellington Management Group LLP increased its stake in shares of Trustmark by 82.2% in the fourth quarter. Wellington Management Group LLP now owns 2,472,561 shares of the financial services provider’s stock worth $87,454,000 after purchasing an additional 1,115,708 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Trustmark by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 894,807 shares of the financial services provider’s stock worth $31,649,000 after purchasing an additional 6,683 shares in the last quarter. Northern Trust Corp raised its position in shares of Trustmark by 5.0% in the fourth quarter. Northern Trust Corp now owns 808,844 shares of the financial services provider’s stock valued at $28,609,000 after purchasing an additional 38,594 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Trustmark by 6.8% during the 3rd quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider’s stock valued at $19,059,000 after buying an additional 37,989 shares in the last quarter. 67.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Hovde Group increased their target price on Trustmark from $36.00 to $37.00 and gave the stock a “market perform” rating in a research report on Monday, April 28th. Janney Montgomery Scott assumed coverage on Trustmark in a report on Friday, January 24th. They set a “buy” rating and a $42.00 price objective on the stock. Keefe, Bruyette & Woods reduced their target price on Trustmark from $45.00 to $43.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Finally, DA Davidson increased their price target on shares of Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $39.80.

Trustmark Price Performance

Shares of NASDAQ TRMK opened at $35.12 on Friday. The stock’s 50-day simple moving average is $33.56 and its two-hundred day simple moving average is $35.66. Trustmark Co. has a twelve month low of $27.42 and a twelve month high of $40.73. The firm has a market capitalization of $2.14 billion, a P/E ratio of 9.65 and a beta of 0.63. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.06. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. The company had revenue of $231.83 million for the quarter, compared to analysts’ expectations of $195.38 million. As a group, equities analysts anticipate that Trustmark Co. will post 3.42 EPS for the current fiscal year.

Trustmark Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, May 30th. Trustmark’s dividend payout ratio (DPR) is currently 25.00%.

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.