Dynamic Technology Lab Private Ltd reduced its holdings in Trustmark Corporation (NASDAQ:TRMK) by 76.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,971 shares of the financial services provider’s stock after selling 28,460 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Trustmark Corporation were worth $289,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. boosted its stake in shares of Trustmark Corporation by 18,306.5% during the 1st quarter. BlackRock Inc. now owns 9,862,184 shares of the financial services provider’s stock worth $313,520,000 after acquiring an additional 9,808,604 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Trustmark Corporation by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 5,625,905 shares of the financial services provider’s stock worth $180,929,000 after acquiring an additional 116,857 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Trustmark Corporation by 3.9% in the second quarter. Dimensional Fund Advisors LP now owns 5,033,036 shares of the financial services provider’s stock worth $161,864,000 after buying an additional 189,873 shares during the period. State Street Corp boosted its position in shares of Trustmark Corporation by 12.7% in the first quarter. State Street Corp now owns 3,447,765 shares of the financial services provider’s stock worth $109,605,000 after buying an additional 388,060 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of Trustmark Corporation by 4.2% in the second quarter. Wells Fargo & Company MN now owns 2,253,867 shares of the financial services provider’s stock worth $72,484,000 after buying an additional 91,676 shares during the period. Hedge funds and other institutional investors own 62.37% of the company’s stock.
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TRMK has been the subject of several recent research reports. ValuEngine upgraded Trustmark Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research upgraded Trustmark Corporation from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Saturday, July 29th. Stephens set a $34.00 price objective on Trustmark Corporation and gave the stock a “hold” rating in a research note on Monday, August 7th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $36.00 price objective on shares of Trustmark Corporation in a research note on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Trustmark Corporation currently has a consensus rating of “Hold” and an average target price of $34.40.
Shares of Trustmark Corporation (NASDAQ TRMK) traded up $0.68 during trading on Tuesday, hitting $32.22. 175,200 shares of the company’s stock traded hands, compared to its average volume of 290,799. Trustmark Corporation has a 52 week low of $28.16 and a 52 week high of $36.79. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 0.04. The company has a market cap of $2,190.00, a PE ratio of 16.78 and a beta of 1.16.
Trustmark Corporation (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.03. The company had revenue of $153.37 million during the quarter, compared to the consensus estimate of $154.40 million. Trustmark Corporation had a net margin of 18.56% and a return on equity of 8.21%. During the same period in the prior year, the business posted $0.47 EPS. research analysts forecast that Trustmark Corporation will post 1.91 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a $0.23 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.86%. Trustmark Corporation’s payout ratio is 52.57%.
Trustmark Corporation 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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