Trustmark Corporation $TRMK Position Cut by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its position in shares of Trustmark Corporation (NASDAQ:TRMK) by 33.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 12,399 shares of the financial services provider’s stock after selling 6,352 shares during the period. Teacher Retirement System of Texas’ holdings in Trustmark were worth $452,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Wellington Management Group LLP boosted its stake in Trustmark by 34.2% during the 1st quarter. Wellington Management Group LLP now owns 3,318,799 shares of the financial services provider’s stock valued at $114,465,000 after purchasing an additional 846,238 shares during the period. Nuveen LLC bought a new stake in shares of Trustmark during the first quarter valued at approximately $5,697,000. Edgestream Partners L.P. boosted its position in shares of Trustmark by 172.9% during the first quarter. Edgestream Partners L.P. now owns 204,665 shares of the financial services provider’s stock worth $7,059,000 after buying an additional 129,679 shares during the period. Trexquant Investment LP grew its holdings in Trustmark by 379.0% in the 1st quarter. Trexquant Investment LP now owns 125,516 shares of the financial services provider’s stock worth $4,329,000 after buying an additional 99,313 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Trustmark by 11.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 993,941 shares of the financial services provider’s stock valued at $34,281,000 after acquiring an additional 99,134 shares during the period. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Stock Up 1.2%

NASDAQ TRMK opened at $38.18 on Monday. Trustmark Corporation has a 12 month low of $29.77 and a 12 month high of $41.33. The company has a market capitalization of $2.29 billion, a P/E ratio of 10.43 and a beta of 0.70. The company’s 50 day simple moving average is $39.19 and its 200 day simple moving average is $37.47. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.86.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.01). Trustmark had a return on equity of 10.90% and a net margin of 19.82%.The business had revenue of $207.53 million during the quarter, compared to analyst estimates of $206.13 million. During the same quarter last year, the firm posted $0.84 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities research analysts expect that Trustmark Corporation will post 3.42 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, December 1st. Trustmark’s dividend payout ratio is currently 26.23%.

Analyst Ratings Changes

A number of research analysts have issued reports on TRMK shares. DA Davidson boosted their price target on Trustmark from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Zacks Research downgraded shares of Trustmark from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Hovde Group increased their target price on shares of Trustmark from $37.00 to $41.00 and gave the company a “market perform” rating in a research report on Thursday, July 24th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Trustmark in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Trustmark has a consensus rating of “Moderate Buy” and an average target price of $42.25.

Insider Buying and Selling at Trustmark

In related news, Director Gerard R. Host sold 1,556 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $40.63, for a total value of $63,220.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Marcelo L. Eduardo sold 700 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $38.49, for a total value of $26,943.00. Following the sale, the director owned 8,577 shares in the company, valued at approximately $330,128.73. The trade was a 7.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 23,226 shares of company stock valued at $897,299. 1.50% of the stock is currently owned by company insiders.

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.