Public Sector Pension Investment Board Has $10.56 Million Stock Holdings in Trustmark Corporation $TRMK

Public Sector Pension Investment Board raised its stake in shares of Trustmark Corporation (NASDAQ:TRMK) by 29.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 266,557 shares of the financial services provider’s stock after purchasing an additional 60,340 shares during the quarter. Public Sector Pension Investment Board owned 0.44% of Trustmark worth $10,556,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. DA Davidson lifted their price target on shares of Trustmark from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. Wall Street Zen cut shares of Trustmark from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, January 21st. Finally, Hovde Group raised 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 research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $43.83.

Trustmark Price Performance

Shares of TRMK stock opened at $44.73 on Monday. Trustmark Corporation has a 1 year low of $29.77 and a 1 year high of $44.96. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11. The firm’s 50 day moving average is $41.23 and its 200-day moving average is $39.71. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 12.06 and a beta of 0.69.

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

Trustmark Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 15th. Stockholders of record on Sunday, March 1st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.2%. This is a boost from Trustmark’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, February 27th. Trustmark’s payout ratio is currently 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.