Citigroup Inc. increased its position in Trustmark Corp (NASDAQ:TRMK) by 9.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,819 shares of the financial services provider’s stock after acquiring an additional 4,722 shares during the period. Citigroup Inc.’s holdings in Trustmark were worth $1,776,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in Trustmark by 110.9% during the 1st quarter. JPMorgan Chase & Co. now owns 1,543,380 shares of the financial services provider’s stock valued at $51,904,000 after buying an additional 811,674 shares during the period. Norges Bank acquired a new position in Trustmark during the 4th quarter valued at about $22,288,000. Oregon Public Employees Retirement Fund increased its stake in Trustmark by 2,743.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 753,594 shares of the financial services provider’s stock valued at $27,000 after buying an additional 727,087 shares during the period. FMR LLC increased its stake in Trustmark by 135.3% during the 4th quarter. FMR LLC now owns 1,075,732 shares of the financial services provider’s stock valued at $30,584,000 after buying an additional 618,637 shares during the period. Finally, BlackRock Inc. increased its stake in Trustmark by 2.6% during the 4th quarter. BlackRock Inc. now owns 9,652,497 shares of the financial services provider’s stock valued at $274,420,000 after buying an additional 241,051 shares during the period. 67.38% of the stock is currently owned by institutional investors and hedge funds.
TRMK has been the topic of several research analyst reports. BidaskClub raised shares of Trustmark from a “hold” rating to a “buy” rating in a research note on Friday, February 22nd. Zacks Investment Research cut shares of Trustmark from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Keefe, Bruyette & Woods cut shares of Trustmark from a “market perform” rating to an “underperform” rating and set a $34.00 target price on the stock. in a research note on Tuesday, March 19th. Finally, Stephens reissued a “hold” rating and set a $32.00 target price on shares of Trustmark in a research note on Wednesday, April 24th. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Trustmark presently has an average rating of “Hold” and an average target price of $34.17.
Shares of TRMK opened at $32.38 on Friday. The company has a market capitalization of $2.10 billion, a PE ratio of 14.79 and a beta of 1.12. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.81 and a current ratio of 0.83. Trustmark Corp has a 12-month low of $26.84 and a 12-month high of $36.63.
Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.01). The business had revenue of $149.53 million during the quarter, compared to analyst estimates of $151.17 million. Trustmark had a return on equity of 9.19% and a net margin of 21.24%. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 EPS. As a group, research analysts forecast that Trustmark Corp will post 2.25 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st were paid a $0.23 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.84%. Trustmark’s dividend payout ratio is currently 41.63%.
In other news, insider Breck W. Tyler sold 2,400 shares of Trustmark stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $35.73, for a total value of $85,752.00. Following the transaction, the insider now owns 43,054 shares of the company’s stock, valued at approximately $1,538,319.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charles Scott Woods sold 1,000 shares of Trustmark stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $35.96, for a total transaction of $35,960.00. Following the completion of the transaction, the insider now directly owns 12,081 shares in the company, valued at approximately $434,432.76. The disclosure for this sale can be found here. Insiders sold a total of 9,861 shares of company stock worth $351,659 in the last ninety days. Corporate insiders own 1.50% of the company’s stock.
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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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