California Public Employees Retirement System Has $4,187,000 Position in Trustmark Corp. (TRMK)
California Public Employees Retirement System cut its stake in shares of Trustmark Corp. (NASDAQ:TRMK) by 6.1% during the second quarter, Holdings Channel reports. The firm owned 168,482 shares of the financial services provider’s stock after selling 10,900 shares during the period. California Public Employees Retirement System owned 0.25% of Trustmark Corp. worth $4,187,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the stock. Keel Point LLC bought a new stake in shares of Trustmark Corp. during the second quarter valued at approximately $210,000. Squarepoint Ops LLC bought a new stake in shares of Trustmark Corp. during the first quarter valued at approximately $278,000. Fox Run Management L.L.C. bought a new stake in shares of Trustmark Corp. during the first quarter valued at approximately $283,000. Suntrust Banks Inc. boosted its stake in shares of Trustmark Corp. by 5.6% in the second quarter. Suntrust Banks Inc. now owns 13,014 shares of the financial services provider’s stock valued at $323,000 after buying an additional 692 shares during the period. Finally, First Midwest Bank Trust Division bought a new stake in shares of Trustmark Corp. during the second quarter valued at approximately $333,000. Hedge funds and other institutional investors own 61.26% of the company’s stock.
Shares of Trustmark Corp. (NASDAQ:TRMK) traded down 0.22% during trading on Tuesday, reaching $27.42. 320,891 shares of the company’s stock were exchanged. Trustmark Corp. has a 52 week low of $19.75 and a 52 week high of $28.71. The company’s 50-day moving average price is $27.46 and its 200 day moving average price is $24.98. The firm has a market capitalization of $1.85 billion, a PE ratio of 17.69 and a beta of 1.21.
Trustmark Corp. (NASDAQ:TRMK) last issued its earnings results on Tuesday, July 26th. The financial services provider reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.02. Trustmark Corp. had a net margin of 17.44% and a return on equity of 7.47%. During the same quarter in the previous year, the business earned $0.45 EPS. Analysts predict that Trustmark Corp. will post $1.64 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, August 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.36%. Trustmark Corp.’s dividend payout ratio (DPR) is 59.36%.
Several brokerages recently commented on TRMK. Zacks Investment Research upgraded shares of Trustmark Corp. from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Tuesday, June 14th. Keefe, Bruyette & Woods upgraded shares of Trustmark Corp. from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $23.00 to $25.00 in a research note on Thursday, July 28th. Jefferies Group raised their price objective on shares of Trustmark Corp. from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Thursday, July 28th. Finally, SunTrust Banks Inc. lifted their target price on shares of Trustmark Corp. from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, June 9th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Trustmark Corp. currently has a consensus rating of “Hold” and an average target price of $25.75.
About Trustmark Corp.
Trustmark Corporation (Trustmark) is a bank holding company. Trustmark’s principal subsidiary is Trustmark National Bank (TNB). Through TNB and other subsidiaries, Trustmark operates as a financial services organization providing banking and other financial solutions through approximately 205 offices in Alabama, Florida, Mississippi, Tennessee and Texas.
Want to see what other hedge funds are holding TRMK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trustmark Corp. (NASDAQ:TRMK).
Receive News & Ratings for Trustmark Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trustmark Corp. and related companies with MarketBeat.com's FREE daily email newsletter.