Prudential Financial Inc. boosted its stake in Trustmark Corp (NASDAQ:TRMK) by 4.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,275 shares of the financial services provider’s stock after acquiring an additional 1,840 shares during the period. Prudential Financial Inc. owned about 0.07% of Trustmark worth $1,439,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in TRMK. Geode Capital Management LLC lifted its position in Trustmark by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 768,479 shares of the financial services provider’s stock valued at $21,847,000 after acquiring an additional 38,130 shares during the last quarter. SG Americas Securities LLC lifted its position in Trustmark by 70.9% in the first quarter. SG Americas Securities LLC now owns 11,345 shares of the financial services provider’s stock valued at $382,000 after acquiring an additional 4,706 shares during the last quarter. Rhumbline Advisers lifted its position in Trustmark by 1.1% in the first quarter. Rhumbline Advisers now owns 206,858 shares of the financial services provider’s stock valued at $6,957,000 after acquiring an additional 2,162 shares during the last quarter. Texas Permanent School Fund lifted its position in Trustmark by 0.8% in the first quarter. Texas Permanent School Fund now owns 44,256 shares of the financial services provider’s stock valued at $1,488,000 after acquiring an additional 354 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Trustmark by 110.9% in the first quarter. JPMorgan Chase & Co. now owns 1,543,380 shares of the financial services provider’s stock valued at $51,904,000 after acquiring an additional 811,674 shares during the last quarter. 66.67% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Breck W. Tyler sold 19,398 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $33.70, for a total value of $653,712.60. Following the completion of the sale, the insider now directly owns 23,656 shares of the company’s stock, valued at $797,207.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is currently owned by corporate insiders.
Trustmark (NASDAQ:TRMK) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.08. Trustmark had a net margin of 21.20% and a return on equity of 9.28%. The business had revenue of $157.40 million during the quarter, compared to analysts’ expectations of $156.35 million. During the same period in the prior year, the company earned $0.59 earnings per share. Equities analysts forecast that Trustmark Corp will post 2.35 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were issued a $0.23 dividend. The ex-dividend date was Thursday, August 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.68%. Trustmark’s payout ratio is 41.63%.
TRMK has been the subject of a number of research reports. BidaskClub raised shares of Trustmark from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 12th. Zacks Investment Research cut shares of Trustmark from a “buy” rating to a “hold” rating in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $34.00.
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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