Trustmark Corporation $TRMK Holdings Decreased by Teacher Retirement System of Texas

Teacher Retirement System of Texas reduced its holdings in Trustmark Corporation (NASDAQ:TRMK) by 33.9% in the 2nd quarter, Holdings Channel reports. The fund owned 12,399 shares of the financial services provider’s stock after selling 6,352 shares during the period. Teacher Retirement System of Texas’ holdings in Trustmark were worth $452,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TRMK. IFP Advisors Inc purchased a new position in Trustmark during the 1st quarter valued at about $51,000. State of Wyoming purchased a new position in Trustmark during the first quarter valued at approximately $52,000. GAMMA Investing LLC increased 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 valued at $81,000 after buying an additional 419 shares during the period. CWM LLC lifted its position in Trustmark by 9.7% in the 1st quarter. CWM LLC now owns 5,655 shares of the financial services provider’s stock worth $195,000 after buying an additional 502 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. acquired a new stake in shares of Trustmark during the 2nd quarter valued at $208,000. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Hovde Group upped their price target on shares of Trustmark from $37.00 to $41.00 and gave the stock a “market perform” rating in a research note on Thursday, July 24th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Trustmark in a research report on Wednesday, October 8th. Zacks Research lowered Trustmark from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Finally, DA Davidson increased their price objective on Trustmark from $39.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.25.

Insiders Place Their Bets

In related news, Director Marcelo L. Eduardo sold 700 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $38.49, for a total transaction of $26,943.00. Following the completion of the sale, the director directly owned 8,577 shares of the company’s stock, valued at approximately $330,128.73. This represents a 7.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gerard R. Host sold 1,556 shares of the firm’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $40.63, for a total transaction of $63,220.28. The SEC filing for this sale provides additional information. Insiders sold 23,226 shares of company stock valued at $897,299 over the last 90 days. 1.50% of the stock is owned by corporate insiders.

Trustmark Price Performance

NASDAQ TRMK opened at $38.18 on Monday. Trustmark Corporation has a fifty-two week low of $29.77 and a fifty-two week high of $41.33. The stock’s 50-day moving average is $39.19 and its two-hundred day moving average is $37.47. The firm has a market cap of $2.29 billion, a P/E ratio of 10.43 and a beta of 0.70. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.86.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data 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 net margin of 19.82% and a return on equity of 10.90%. The company had revenue of $207.53 million for the quarter, compared to analyst estimates of $206.13 million. During the same period in the prior year, the company posted $0.84 EPS. The business’s revenue was up 5.3% on a year-over-year basis. On average, analysts anticipate 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. Stockholders of record on Monday, December 1st will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.5%. Trustmark’s dividend payout ratio (DPR) is currently 26.23%.

About Trustmark

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.