Trustmark Corp. (TRMK) Position Boosted by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. increased its stake in shares of Trustmark Corp. (NASDAQ:TRMK) by 21.1% during the second quarter, Holdings Channel reports. The institutional investor owned 21,282 shares of the financial services provider’s stock after buying an additional 3,701 shares during the period. PNC Financial Services Group Inc.’s holdings in Trustmark Corp. were worth $528,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in TRMK. Royal Bank of Canada raised its position in Trustmark Corp. by 19.3% in the first quarter. Royal Bank of Canada now owns 48,853 shares of the financial services provider’s stock worth $1,126,000 after buying an additional 7,895 shares during the period. Arizona State Retirement System raised its position in Trustmark Corp. by 0.3% in the first quarter. Arizona State Retirement System now owns 32,177 shares of the financial services provider’s stock worth $741,000 after buying an additional 100 shares during the period. A.R.T. Advisors LLC purchased a new position in Trustmark Corp. during the first quarter worth $800,000. Renaissance Technologies LLC raised its position in Trustmark Corp. by 153.7% in the first quarter. Renaissance Technologies LLC now owns 547,504 shares of the financial services provider’s stock worth $12,609,000 after buying an additional 331,700 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Trustmark Corp. by 20.3% in the first quarter. Goldman Sachs Group Inc. now owns 342,347 shares of the financial services provider’s stock worth $7,885,000 after buying an additional 57,843 shares during the period. Institutional investors own 61.26% of the company’s stock.
Trustmark Corp. (NASDAQ:TRMK) traded down 0.197% on Friday, hitting $27.915. The stock had a trading volume of 154,839 shares. The company has a market cap of $1.89 billion, a PE ratio of 18.010 and a beta of 1.21. Trustmark Corp. has a one year low of $19.75 and a one year high of $28.71. The stock has a 50-day moving average of $27.61 and a 200-day moving average of $25.05.
Trustmark Corp. (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.02. Trustmark Corp. had a return on equity of 7.47% and a net margin of 17.44%. During the same quarter last year, the company posted $0.45 EPS. Equities analysts expect that Trustmark Corp. will post $1.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.29%. The ex-dividend date was Tuesday, August 30th. Trustmark Corp.’s dividend payout ratio is currently 59.36%.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Trustmark Corp. from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Tuesday, June 14th. Keefe, Bruyette & Woods raised Trustmark Corp. from an “underperform” rating to a “market perform” rating and raised their target price for the company from $23.00 to $25.00 in a report on Thursday, July 28th. Jefferies Group raised their target price on Trustmark Corp. from $25.00 to $26.00 and gave the company a “hold” rating in a report on Thursday, July 28th. Finally, SunTrust Banks Inc. raised their target price on Trustmark Corp. from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, June 9th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus 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.
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