Earnest Partners LLC Boosts Holdings in Trustmark Corp (NASDAQ:TRMK)

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Earnest Partners LLC grew its position in Trustmark Corp (NASDAQ:TRMK) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,349,246 shares of the financial services provider’s stock after buying an additional 35,008 shares during the period. Earnest Partners LLC owned 3.65% of Trustmark worth $78,112,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Texas Permanent School Fund grew its stake in shares of Trustmark by 0.8% in the 1st quarter. Texas Permanent School Fund now owns 44,256 shares of the financial services provider’s stock valued at $1,488,000 after buying an additional 354 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of Trustmark by 1.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 26,880 shares of the financial services provider’s stock worth $894,000 after purchasing an additional 373 shares during the period. ETRADE Capital Management LLC boosted its position in shares of Trustmark by 2.3% during the 2nd quarter. ETRADE Capital Management LLC now owns 23,967 shares of the financial services provider’s stock worth $797,000 after purchasing an additional 546 shares during the period. Magnus Financial Group LLC boosted its position in shares of Trustmark by 5.6% during the 1st quarter. Magnus Financial Group LLC now owns 11,786 shares of the financial services provider’s stock worth $396,000 after purchasing an additional 625 shares during the period. Finally, Strs Ohio boosted its position in shares of Trustmark by 77.8% during the 1st quarter. Strs Ohio now owns 1,600 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 700 shares during the period. 66.69% of the stock is owned by institutional investors and hedge funds.

In other Trustmark news, insider Breck W. Tyler sold 19,398 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 23,656 shares of the company’s stock, valued at approximately $797,207.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.50% of the company’s stock.

A number of research firms recently weighed in on TRMK. Zacks Investment Research cut shares of Trustmark from a “buy” rating to a “hold” rating in a research report on Thursday. BidaskClub raised shares of Trustmark from a “strong sell” rating to a “sell” rating in a research report on Thursday. Three analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $33.50.

NASDAQ:TRMK opened at $35.07 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 0.84. The stock has a market capitalization of $2.16 billion, a P/E ratio of 15.92 and a beta of 1.10. The company has a 50 day moving average price of $33.78 and a 200 day moving average price of $33.80. Trustmark Corp has a fifty-two week low of $26.84 and a fifty-two week high of $36.63.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.08. Trustmark had a net margin of 21.20% and a return on equity of 9.28%. The firm had revenue of $157.40 million during the quarter, compared to analysts’ expectations of $156.35 million. During the same quarter last year, the company posted $0.59 EPS. Research analysts forecast that Trustmark Corp will post 2.35 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st will be given a $0.23 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.92 annualized dividend and a yield of 2.62%. Trustmark’s dividend payout ratio is presently 41.63%.

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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Institutional Ownership by Quarter for Trustmark (NASDAQ:TRMK)

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