Texas Permanent School Fund boosted its stake in shares of Trustmark Corporation (NASDAQ:TRMK) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,449 shares of the financial services provider’s stock after buying an additional 442 shares during the period. Texas Permanent School Fund’s holdings in Trustmark Corporation were worth $1,590,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Teachers Advisors LLC increased its position in Trustmark Corporation by 4.6% in the fourth quarter. Teachers Advisors LLC now owns 116,728 shares of the financial services provider’s stock valued at $4,161,000 after buying an additional 5,087 shares in the last quarter. Creative Planning increased its position in Trustmark Corporation by 1.7% in the first quarter. Creative Planning now owns 3,464 shares of the financial services provider’s stock valued at $110,000 after buying an additional 59 shares in the last quarter. Bank of Montreal Can increased its position in Trustmark Corporation by 0.3% in the first quarter. Bank of Montreal Can now owns 5,759 shares of the financial services provider’s stock valued at $182,000 after buying an additional 20 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Trustmark Corporation during the first quarter valued at about $216,000. Finally, Louisiana State Employees Retirement System increased its position in Trustmark Corporation by 2.4% in the first quarter. Louisiana State Employees Retirement System now owns 17,100 shares of the financial services provider’s stock valued at $544,000 after buying an additional 400 shares in the last quarter. 62.07% of the stock is owned by institutional investors.
Shares of Trustmark Corporation (NASDAQ:TRMK) opened at 30.72 on Tuesday. The company has a 50-day moving average price of $31.93 and a 200 day moving average price of $32.26. The company has a market capitalization of $2.08 billion, a PE ratio of 18.09 and a beta of 1.13. Trustmark Corporation has a one year low of $25.68 and a one year high of $36.79.
Trustmark Corporation (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.03. The business had revenue of $157.10 million for the quarter, compared to analysts’ expectations of $152.57 million. Trustmark Corporation had a return on equity of 8.04% and a net margin of 18.35%. During the same period in the previous year, the firm earned $0.40 EPS. Equities analysts anticipate that Trustmark Corporation will post $1.75 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.92 dividend on an annualized basis and a yield of 2.99%. Trustmark Corporation’s dividend payout ratio (DPR) is currently 54.12%.
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TRMK has been the subject of several recent research reports. Stephens reaffirmed a “hold” rating on shares of Trustmark Corporation in a research note on Wednesday, April 26th. Hovde Group upped their price objective on Trustmark Corporation from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, April 27th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $35.00 price objective on shares of Trustmark Corporation in a research note on Friday, May 5th. Zacks Investment Research cut Trustmark Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Finally, ValuEngine upgraded Trustmark Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $34.00.
In other news, insider Duane A. Dewey sold 5,748 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $30.85, for a total transaction of $177,325.80. Following the transaction, the insider now directly owns 27,909 shares of the company’s stock, valued at $860,992.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Charles Scott Woods sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $32.00, for a total value of $32,000.00. Following the transaction, the insider now directly owns 13,344 shares in the company, valued at $427,008. The disclosure for this sale can be found here. 1.37% of the stock is owned by insiders.
About Trustmark Corporation
Trustmark Corporation is a bank holding company. The Company’s principal subsidiary is Trustmark National Bank (TNB). Through TNB and its subsidiaries, the Company operates as a financial services company providing banking and other financial solutions. It operates through three segments: General Banking, Wealth Management and Insurance.
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