Teacher Retirement System of Texas Boosts Stake in Trustmark Corporation $TRMK

Teacher Retirement System of Texas increased its position in Trustmark Corporation (NASDAQ:TRMK) by 134.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,013 shares of the financial services provider’s stock after acquiring an additional 16,614 shares during the period. Teacher Retirement System of Texas’ holdings in Trustmark were worth $1,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in shares of Trustmark by 27.0% in the first quarter. Royal Bank of Canada now owns 22,127 shares of the financial services provider’s stock worth $764,000 after purchasing an additional 4,701 shares during the last quarter. AQR Capital Management LLC increased its holdings in Trustmark by 230.8% in the 1st quarter. AQR Capital Management LLC now owns 97,234 shares of the financial services provider’s stock worth $3,327,000 after buying an additional 67,841 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Trustmark by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,217 shares of the financial services provider’s stock worth $1,249,000 after buying an additional 1,592 shares during the last quarter. Millennium Management LLC lifted its stake in Trustmark by 12.4% during the 1st quarter. Millennium Management LLC now owns 197,652 shares of the financial services provider’s stock valued at $6,817,000 after acquiring an additional 21,866 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Trustmark by 17.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 470,756 shares of the financial services provider’s stock valued at $16,236,000 after acquiring an additional 69,110 shares during the period. Institutional investors and hedge funds own 67.64% of the company’s stock.

Analyst Upgrades and Downgrades

TRMK has been the topic of several analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Trustmark in a research report on Wednesday, January 21st. Wall Street Zen downgraded Trustmark from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. DA Davidson lifted their price target on Trustmark from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. Finally, Hovde Group boosted their price target on Trustmark from $42.00 to $44.50 and gave the company a “market perform” rating in a report on Thursday, January 29th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Trustmark has a consensus rating of “Hold” and an average target price of $43.83.

Trustmark Stock Performance

NASDAQ TRMK opened at $43.01 on Tuesday. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 11.59 and a beta of 0.69. The stock has a 50-day moving average of $40.35 and a 200 day moving average of $39.35. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11. Trustmark Corporation has a twelve month low of $29.77 and a twelve month high of $43.55.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.91 by $0.06. The company had revenue of $209.44 million for the quarter, compared to analyst estimates of $207.05 million. Trustmark had a return on equity of 10.77% and a net margin of 19.95%.During the same period last year, the company earned $0.92 earnings per share. Sell-side analysts anticipate that Trustmark Corporation will post 3.42 EPS for the current fiscal year.

Trustmark Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 15th. Investors of record on Sunday, March 1st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, February 27th. This is a boost from Trustmark’s previous quarterly dividend of $0.24. Trustmark’s payout ratio is presently 25.88%.

Trustmark Profile

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.