Earnest Partners LLC grew its position in Trustmark Corp (NASDAQ:TRMK) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,349,246 shares of the financial services provider’s stock after acquiring an additional 35,008 shares during the period. Earnest Partners LLC’s holdings in Trustmark were worth $78,112,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Texas Permanent School Fund boosted its holdings in Trustmark by 0.8% during the first quarter. Texas Permanent School Fund now owns 44,256 shares of the financial services provider’s stock worth $1,488,000 after buying an additional 354 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Trustmark by 1.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 26,880 shares of the financial services provider’s stock worth $894,000 after buying an additional 373 shares in the last quarter. ETRADE Capital Management LLC boosted its holdings in Trustmark by 2.3% during the second quarter. ETRADE Capital Management LLC now owns 23,967 shares of the financial services provider’s stock worth $797,000 after buying an additional 546 shares in the last quarter. Magnus Financial Group LLC boosted its holdings in Trustmark by 5.6% during the first quarter. Magnus Financial Group LLC now owns 11,786 shares of the financial services provider’s stock worth $396,000 after buying an additional 625 shares in the last quarter. Finally, Strs Ohio boosted its holdings in Trustmark by 77.8% during the first quarter. Strs Ohio now owns 1,600 shares of the financial services provider’s stock worth $53,000 after buying an additional 700 shares in the last quarter. 66.69% of the stock is currently owned by institutional investors and hedge funds.
TRMK stock opened at $35.07 on Friday. The company has a market cap of $2.16 billion, a P/E ratio of 15.92 and a beta of 1.10. Trustmark Corp has a 52 week low of $26.84 and a 52 week high of $36.63. The company’s 50-day moving average price is $33.78 and its 200 day moving average price is $33.80. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 0.04.
Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.08. The firm had revenue of $157.40 million for the quarter, compared to the consensus estimate of $156.35 million. Trustmark had a net margin of 21.20% and a return on equity of 9.28%. During the same quarter in the previous year, the firm earned $0.59 earnings per share. On average, equities research analysts expect that Trustmark Corp will post 2.35 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Thursday, August 29th. Trustmark’s payout ratio is currently 41.63%.
TRMK has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Trustmark from a “buy” rating to a “hold” rating in a report on Thursday. BidaskClub raised shares of Trustmark from a “strong sell” rating to a “sell” rating in a report on Thursday. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. Trustmark currently has an average rating of “Hold” and an average target price of $33.50.
In other Trustmark news, insider Breck W. Tyler sold 19,398 shares of Trustmark stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $33.70, for a total transaction of $653,712.60. Following the completion of the transaction, the insider now owns 23,656 shares in the company, valued at $797,207.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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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