Teacher Retirement System of Texas Acquires 16,614 Shares of Trustmark Corporation $TRMK

Teacher Retirement System of Texas raised its position in shares of Trustmark Corporation (NASDAQ:TRMK) by 134.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,013 shares of the financial services provider’s stock after purchasing an additional 16,614 shares during the quarter. Teacher Retirement System of Texas’ holdings in Trustmark were worth $1,149,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. California State Teachers Retirement System boosted its stake in shares of Trustmark by 0.6% in the second quarter. California State Teachers Retirement System now owns 53,630 shares of the financial services provider’s stock worth $1,955,000 after acquiring an additional 313 shares during the period. Richardson Financial Services Inc. lifted its holdings in Trustmark by 86.7% in the 3rd quarter. Richardson Financial Services Inc. now owns 743 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 345 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in Trustmark by 1.0% in the 2nd quarter. Lazard Asset Management LLC now owns 35,132 shares of the financial services provider’s stock worth $1,280,000 after purchasing an additional 353 shares in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its stake in Trustmark by 6.1% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 13,738 shares of the financial services provider’s stock worth $501,000 after purchasing an additional 788 shares during the period. Finally, CWM LLC grew its holdings in Trustmark by 16.3% during the 2nd quarter. CWM LLC now owns 6,577 shares of the financial services provider’s stock valued at $240,000 after buying an additional 922 shares in the last quarter. 67.64% of the stock is owned by hedge funds and other institutional investors.

Trustmark Trading Up 1.2%

NASDAQ TRMK opened at $43.01 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11. The stock has a market cap of $2.58 billion, a PE ratio of 11.59 and a beta of 0.69. The company’s 50-day moving average price is $40.35 and its 200-day moving average price is $39.35. Trustmark Corporation has a 12 month low of $29.77 and a 12 month high of $43.55.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. Trustmark had a return on equity of 10.77% and a net margin of 19.95%.The business had revenue of $209.44 million for the quarter, compared to the consensus estimate of $207.05 million. During the same quarter in the prior year, the company earned $0.92 EPS. Equities research analysts forecast that Trustmark Corporation will post 3.42 earnings per share for the current year.

Trustmark Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 15th. Investors of record on Sunday, March 1st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, February 27th. This is a positive change from Trustmark’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 2.3%. Trustmark’s dividend payout ratio is currently 25.88%.

Wall Street Analyst Weigh In

Several brokerages have commented on TRMK. Weiss Ratings reiterated a “buy (b-)” rating on shares of Trustmark in a research note on Wednesday, January 21st. DA Davidson lifted their target price on Trustmark from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. Wall Street Zen downgraded Trustmark from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Finally, Hovde Group raised their price target on Trustmark from $42.00 to $44.50 and gave the company a “market perform” rating in a report on Thursday, January 29th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Trustmark currently has a consensus rating of “Hold” and a consensus target price of $43.83.

Trustmark Company Profile

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.