Rafferty Asset Management LLC Decreases Stake in Trustmark Co. (NASDAQ:TRMK)

Rafferty Asset Management LLC reduced its position in Trustmark Co. (NASDAQ:TRMK) by 12.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 55,170 shares of the financial services provider’s stock after selling 7,734 shares during the period. Rafferty Asset Management LLC’s holdings in Trustmark were worth $1,951,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. AlphaQuest LLC lifted its position in shares of Trustmark by 4.7% in the fourth quarter. AlphaQuest LLC now owns 10,157 shares of the financial services provider’s stock worth $359,000 after buying an additional 456 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in Trustmark by 1.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 54,274 shares of the financial services provider’s stock worth $1,920,000 after acquiring an additional 528 shares during the last quarter. Element Wealth LLC increased its stake in Trustmark by 6.3% during the fourth quarter. Element Wealth LLC now owns 9,018 shares of the financial services provider’s stock worth $319,000 after acquiring an additional 533 shares during the last quarter. Swiss National Bank increased its stake in Trustmark by 0.7% during the fourth quarter. Swiss National Bank now owns 114,400 shares of the financial services provider’s stock worth $4,046,000 after acquiring an additional 800 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its stake in Trustmark by 7.6% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 11,930 shares of the financial services provider’s stock worth $422,000 after acquiring an additional 847 shares during the last quarter. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TRMK has been the topic of several analyst reports. Keefe, Bruyette & Woods reduced their price objective on Trustmark from $45.00 to $43.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Hovde Group boosted their price objective on Trustmark from $36.00 to $37.00 and gave the stock a “market perform” rating in a research note on Monday, April 28th. Janney Montgomery Scott began coverage on Trustmark in a research note on Friday, January 24th. They set a “buy” rating and a $42.00 price objective on the stock. Finally, DA Davidson upped their target price on Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $39.80.

Trustmark Trading Down 0.3%

TRMK opened at $35.85 on Wednesday. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 9.85 and a beta of 0.63. The stock’s 50 day moving average price is $33.86 and its 200-day moving average price is $35.72. Trustmark Co. has a one year low of $27.42 and a one year high of $40.73. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, April 22nd. The financial services provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.06. The firm had revenue of $231.83 million for the quarter, compared to analysts’ expectations of $195.38 million. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. On average, equities analysts forecast that Trustmark Co. will post 3.42 EPS for the current year.

Trustmark Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.96 annualized dividend and a yield of 2.68%. Trustmark’s dividend payout ratio (DPR) is currently 25.00%.

Trustmark 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 operates through three segments: General Banking, Wealth Management, and Insurance. It offers checking, savings, and money market accounts; certificates of deposits and individual retirement accounts; 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, as well as treasury management services.