Trustmark Corporation (TRMK) Stake Boosted by BlackRock Inc.
BlackRock Inc. raised its stake in Trustmark Corporation (NASDAQ:TRMK) by 1.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,722 shares of the financial services provider’s stock after buying an additional 1,031 shares during the period. BlackRock Inc. owned 0.08% of Trustmark Corporation worth $1,507,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Wells Fargo & Company MN increased its stake in shares of Trustmark Corporation by 263.9% in the third quarter. Wells Fargo & Company MN now owns 1,961,544 shares of the financial services provider’s stock valued at $54,061,000 after buying an additional 1,422,443 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Trustmark Corporation by 14.9% in the second quarter. Dimensional Fund Advisors LP now owns 4,306,569 shares of the financial services provider’s stock valued at $107,017,000 after buying an additional 557,405 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Trustmark Corporation by 123.2% in the second quarter. JPMorgan Chase & Co. now owns 787,222 shares of the financial services provider’s stock valued at $19,562,000 after buying an additional 434,479 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Trustmark Corporation by 5.3% in the second quarter. BlackRock Fund Advisors now owns 6,822,017 shares of the financial services provider’s stock valued at $169,527,000 after buying an additional 341,451 shares in the last quarter. Finally, Numeric Investors LLC acquired a new stake in shares of Trustmark Corporation during the second quarter valued at $6,739,000. 64.12% of the stock is owned by institutional investors and hedge funds.
Shares of Trustmark Corporation (NASDAQ:TRMK) opened at 34.26 on Friday. The firm has a market cap of $2.32 billion, a P/E ratio of 21.63 and a beta of 1.03. Trustmark Corporation has a 12-month low of $19.75 and a 12-month high of $36.79. The company’s 50 day moving average price is $35.11 and its 200-day moving average price is $29.02.
Trustmark Corporation (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, October 25th. The financial services provider reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.02. Trustmark Corporation had a return on equity of 7.57% and a net margin of 17.85%. The company had revenue of $146.89 million for the quarter, compared to the consensus estimate of $147.15 million. During the same quarter in the prior year, the business earned $0.42 EPS. Trustmark Corporation’s revenue was down .5% on a year-over-year basis. On average, equities research analysts anticipate that Trustmark Corporation will post $1.60 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were issued a $0.23 dividend. The ex-dividend date was Tuesday, November 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.69%. Trustmark Corporation’s payout ratio is currently 57.86%.
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Separately, Zacks Investment Research raised Trustmark Corporation from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Wednesday, September 28th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Trustmark Corporation currently has a consensus rating of “Hold” and an average target price of $29.00.
In other news, insider George C. Gunn III sold 9,000 shares of the stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $31.94, for a total value of $287,460.00. Following the transaction, the insider now owns 17,201 shares in the company, valued at approximately $549,399.94. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.42% of the stock is owned by insiders.
About Trustmark Corporation
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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