California Public Employees Retirement System raised its position in Trustmark Corp (NASDAQ:TRMK) by 5.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 156,745 shares of the financial services provider’s stock after buying an additional 8,185 shares during the quarter. California Public Employees Retirement System’s holdings in Trustmark were worth $4,994,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in TRMK. Crossmark Global Holdings Inc. bought a new position in shares of Trustmark in the 3rd quarter worth $202,000. Public Employees Retirement System of Ohio boosted its position in shares of Trustmark by 107.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 7,468 shares of the financial services provider’s stock worth $247,000 after purchasing an additional 3,870 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Trustmark in the 3rd quarter worth $274,000. ING Groep NV boosted its position in shares of Trustmark by 23.2% in the 4th quarter. ING Groep NV now owns 10,222 shares of the financial services provider’s stock worth $326,000 after purchasing an additional 1,926 shares during the last quarter. Finally, Vantage Investment Advisors LLC bought a new position in shares of Trustmark in the 4th quarter worth $363,000. Hedge funds and other institutional investors own 63.77% of the company’s stock.
Several research analysts have weighed in on TRMK shares. Zacks Investment Research lowered Trustmark from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. Hovde Group set a $33.00 target price on Trustmark and gave the stock a “hold” rating in a report on Monday, February 5th. BidaskClub upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. SunTrust Banks reduced their target price on Trustmark to $33.00 and set an “average” rating on the stock in a report on Tuesday, January 30th. Finally, Stephens reiterated a “hold” rating and set a $34.00 target price on shares of Trustmark in a report on Thursday, January 25th. Eight equities research analysts have rated the stock with a hold rating, Trustmark currently has a consensus rating of “Hold” and a consensus target price of $34.50.
Trustmark (NASDAQ:TRMK) last posted its earnings results on Tuesday, January 23rd. The financial services provider reported $0.48 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.48. The firm had revenue of $153.06 million for the quarter, compared to analyst estimates of $152.80 million. Trustmark had a return on equity of 8.35% and a net margin of 16.15%. During the same period in the previous year, the company posted $0.43 earnings per share. equities analysts predict that Trustmark Corp will post 2.15 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Wednesday, February 28th. Trustmark’s dividend payout ratio is 50.83%.
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Trustmark Company 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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