BNP Paribas Arbitrage SA Sells 10,796 Shares of Trustmark Corp (TRMK)
BNP Paribas Arbitrage SA lowered its stake in shares of Trustmark Corp (NASDAQ:TRMK) by 53.6% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 9,328 shares of the financial services provider’s stock after selling 10,796 shares during the period. BNP Paribas Arbitrage SA’s holdings in Trustmark were worth $304,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Leavell Investment Management Inc. acquired a new position in shares of Trustmark during the 2nd quarter worth approximately $209,000. Creative Planning acquired a new position in shares of Trustmark during the 2nd quarter worth approximately $227,000. Xact Kapitalforvaltning AB boosted its holdings in shares of Trustmark by 32.9% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 16,560 shares of the financial services provider’s stock worth $540,000 after purchasing an additional 4,100 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Trustmark by 1.8% during the 1st quarter. Principal Financial Group Inc. now owns 294,216 shares of the financial services provider’s stock worth $9,168,000 after purchasing an additional 5,118 shares during the last quarter. Finally, Wesbanco Bank Inc. acquired a new position in shares of Trustmark during the 1st quarter worth approximately $877,000. Institutional investors and hedge funds own 60.47% of the company’s stock.
A number of research analysts recently commented on the company. BidaskClub cut Trustmark from a “buy” rating to a “hold” rating in a report on Saturday, July 7th. Sandler O’Neill reiterated a “hold” rating and issued a $35.00 price objective on shares of Trustmark in a report on Thursday, July 26th. Hovde Group set a $35.00 price objective on Trustmark and gave the company a “hold” rating in a report on Saturday, July 28th. Finally, Zacks Investment Research cut Trustmark from a “buy” rating to a “hold” rating in a report on Tuesday, May 1st. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $34.86.
Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, July 24th. The financial services provider reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. Trustmark had a return on equity of 9.13% and a net margin of 19.01%. The firm had revenue of $155.76 million for the quarter, compared to analysts’ expectations of $151.50 million. During the same period in the prior year, the firm posted $0.47 earnings per share. analysts anticipate that Trustmark Corp will post 2.26 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, September 15th. Investors of record on Saturday, September 1st will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Thursday, August 30th. Trustmark’s dividend payout ratio is presently 47.92%.
In related news, insider Charles Scott Woods sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $35.41, for a total value of $70,820.00. Following the transaction, the insider now directly owns 13,998 shares in the company, valued at $495,669.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.50% of the company’s stock.
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 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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