Bank of Montreal Can reduced its holdings in shares of Trustmark Corporation (NASDAQ:TRMK) by 16.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,814 shares of the financial services provider’s stock after selling 945 shares during the period. Bank of Montreal Can’s holdings in Trustmark Corporation were worth $154,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Creative Planning boosted its position in shares of Trustmark Corporation by 1.7% during the 1st quarter. Creative Planning now owns 3,464 shares of the financial services provider’s stock valued at $110,000 after acquiring an additional 59 shares in the last quarter. State Treasurer State of Michigan boosted its position in Trustmark Corporation by 1.1% in the first quarter. State Treasurer State of Michigan now owns 27,500 shares of the financial services provider’s stock valued at $874,000 after buying an additional 300 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Trustmark Corporation by 31.5% in the first quarter. Bank of New York Mellon Corp now owns 1,190,151 shares of the financial services provider’s stock valued at $37,835,000 after buying an additional 285,369 shares in the last quarter. Trexquant Investment LP boosted its position in Trustmark Corporation by 103.2% in the first quarter. Trexquant Investment LP now owns 16,258 shares of the financial services provider’s stock valued at $517,000 after buying an additional 8,258 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in Trustmark Corporation by 9.3% in the first quarter. Stifel Financial Corp now owns 19,741 shares of the financial services provider’s stock valued at $628,000 after buying an additional 1,683 shares in the last quarter. Institutional investors and hedge funds own 62.36% of the company’s stock.
Shares of Trustmark Corporation (TRMK) traded up 0.40% during trading on Friday, hitting $30.13. 246,879 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $30.33 and its 200-day moving average price is $31.66. Trustmark Corporation has a 1-year low of $26.81 and a 1-year high of $36.79. The stock has a market cap of $2.04 billion, a PE ratio of 17.74 and a beta of 1.15.
Trustmark Corporation (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.03. Trustmark Corporation had a net margin of 18.35% and a return on equity of 8.04%. The company had revenue of $157.10 million for the quarter, compared to the consensus estimate of $152.57 million. During the same period last year, the company posted $0.40 EPS. On average, equities analysts expect that Trustmark Corporation will post $1.75 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.92 annualized dividend and a yield of 3.06%. Trustmark Corporation’s dividend payout ratio is presently 54.12%.
In related news, insider Charles Scott Woods sold 1,000 shares of Trustmark Corporation stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $32.00, for a total transaction of $32,000.00. Following the sale, the insider now directly owns 13,344 shares in the company, valued at approximately $427,008. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.37% of the stock is owned by company insiders.
TRMK has been the topic of a number of recent analyst reports. Stephens set a $35.00 price target on shares of Trustmark Corporation and gave the company a “hold” rating in a research report on Wednesday, July 26th. BidaskClub lowered shares of Trustmark Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Jefferies Group LLC restated a “hold” rating and issued a $35.00 price target on shares of Trustmark Corporation in a research report on Friday, June 9th. Zacks Investment Research raised shares of Trustmark Corporation from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Wednesday, June 28th. Finally, ValuEngine downgraded shares of Trustmark Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $33.40.
Trustmark Corporation Profile
Trustmark Corporation is a bank holding company. The Company’s principal subsidiary is Trustmark National Bank (TNB). Through TNB and its subsidiaries, the Company operates as a financial services company providing banking and other financial solutions. It operates through three segments: General Banking, Wealth Management and Insurance.
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