8,173 Shares in Trustmark Corp. (TRMK) Acquired by Janney Montgomery Scott LLC
Janney Montgomery Scott LLC bought a new position in Trustmark Corp. (NASDAQ:TRMK) during the second quarter, Holdings Channel reports. The firm bought 8,173 shares of the financial services provider’s stock, valued at approximately $203,000.
Several other institutional investors also recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. raised its position in shares of Trustmark Corp. by 1.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,038,072 shares of the financial services provider’s stock worth $46,937,000 after buying an additional 33,704 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Trustmark Corp. by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 876,796 shares of the financial services provider’s stock worth $21,789,000 after buying an additional 3,874 shares during the last quarter. Norges Bank acquired a new stake in Trustmark Corp. during the fourth quarter worth about $17,149,000. Renaissance Technologies LLC increased its stake in Trustmark Corp. by 153.7% in the first quarter. Renaissance Technologies LLC now owns 547,504 shares of the financial services provider’s stock worth $12,609,000 after buying an additional 331,700 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Trustmark Corp. by 20.3% in the first quarter. Goldman Sachs Group Inc. now owns 342,347 shares of the financial services provider’s stock worth $7,885,000 after buying an additional 57,843 shares during the last quarter. Hedge funds and other institutional investors own 61.26% of the company’s stock.
Shares of Trustmark Corp. (NASDAQ:TRMK) traded up 0.44% during midday trading on Wednesday, hitting $27.54. 236,792 shares of the stock traded hands. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 17.77 and a beta of 1.21. Trustmark Corp. has a 12-month low of $19.75 and a 12-month high of $28.71. The company’s 50 day moving average price is $27.50 and its 200-day moving average price is $25.01.
Trustmark Corp. (NASDAQ:TRMK) last posted its earnings results on Tuesday, July 26th. The financial services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.02. Trustmark Corp. had a net margin of 17.44% and a return on equity of 7.47%. During the same quarter last year, the business posted $0.45 earnings per share. On average, equities research analysts expect that Trustmark Corp. will post $1.64 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.34%. The ex-dividend date was Tuesday, August 30th. Trustmark Corp.’s dividend payout ratio (DPR) is 59.36%.
A number of research firms recently issued reports on TRMK. Zacks Investment Research raised shares of Trustmark Corp. from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Tuesday, June 14th. Keefe, Bruyette & Woods raised shares of Trustmark Corp. from an “underperform” rating to a “market perform” rating and upped their price target for the company from $23.00 to $25.00 in a research note on Thursday, July 28th. Jefferies Group upped their price target on shares of Trustmark Corp. from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Thursday, July 28th. Finally, SunTrust Banks Inc. upped their price target on shares of Trustmark Corp. from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, June 9th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Trustmark Corp. currently has an average rating of “Hold” and an average target price of $25.75.
About Trustmark Corp.
Trustmark Corporation (Trustmark) is a bank holding company. Trustmark’s principal subsidiary is Trustmark National Bank (TNB). Through TNB and other subsidiaries, Trustmark operates as a financial services organization providing banking and other financial solutions through approximately 205 offices in Alabama, Florida, Mississippi, Tennessee and Texas.
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