Connable Office Inc. Buys 1,306 Shares of Trustmark Corporation (TRMK)
Connable Office Inc. increased its stake in Trustmark Corporation (NASDAQ:TRMK) by 18.9% during the second quarter, Holdings Channel reports. The firm owned 8,214 shares of the financial services provider’s stock after buying an additional 1,306 shares during the period. Connable Office Inc.’s holdings in Trustmark Corporation were worth $264,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Flinton Capital Management LLC increased its stake in shares of Trustmark Corporation by 14.1% in the first quarter. Flinton Capital Management LLC now owns 3,232 shares of the financial services provider’s stock valued at $103,000 after buying an additional 400 shares during the period. Creative Planning boosted its position in Trustmark Corporation by 1.7% in the first quarter. Creative Planning now owns 3,464 shares of the financial services provider’s stock valued at $110,000 after buying an additional 59 shares in the last quarter. Meadow Creek Investment Management LLC boosted its position in Trustmark Corporation by 14.1% in the first quarter. Meadow Creek Investment Management LLC now owns 4,444 shares of the financial services provider’s stock valued at $141,000 after buying an additional 550 shares in the last quarter. Integrated Investment Consultants LLC boosted its position in Trustmark Corporation by 13.8% in the second quarter. Integrated Investment Consultants LLC now owns 4,925 shares of the financial services provider’s stock valued at $158,000 after buying an additional 598 shares in the last quarter. Finally, LS Investment Advisors LLC boosted its position in Trustmark Corporation by 21.1% in the second quarter. LS Investment Advisors LLC now owns 5,411 shares of the financial services provider’s stock valued at $174,000 after buying an additional 941 shares in the last quarter. Institutional investors and hedge funds own 62.32% of the company’s stock.
Trustmark Corporation (NASDAQ:TRMK) opened at 29.94 on Friday. The company’s 50-day moving average price is $31.95 and its 200-day moving average price is $32.30. Trustmark Corporation has a 52-week low of $26.67 and a 52-week high of $36.79. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 17.63 and a beta of 1.13.
Trustmark Corporation (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.44 by $0.03. Trustmark Corporation had a return on equity of 8.04% and a net margin of 18.35%. The firm had revenue of $157.10 million during the quarter, compared to analyst estimates of $152.57 million. During the same quarter in the prior year, the business posted $0.40 EPS. Equities research analysts expect that Trustmark Corporation will post $1.75 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Wednesday, August 30th. Trustmark Corporation’s dividend payout ratio is currently 54.12%.
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A number of research analysts have recently commented on TRMK shares. Stephens set a $35.00 price target on Trustmark Corporation and gave the company a “hold” rating in a research report on Wednesday, July 26th. BidaskClub cut Trustmark Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Jefferies Group LLC restated a “hold” rating and issued a $35.00 target price on shares of Trustmark Corporation in a research note on Friday, June 9th. Zacks Investment Research upgraded Trustmark Corporation from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research note on Wednesday, June 28th. Finally, ValuEngine lowered Trustmark Corporation from a “buy” rating to a “hold” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $34.00.
In other news, insider Duane A. Dewey sold 5,748 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $30.85, for a total transaction of $177,325.80. Following the sale, the insider now directly owns 27,909 shares in the company, valued at approximately $860,992.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charles Scott Woods sold 1,000 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $32.00, for a total value of $32,000.00. Following the sale, the insider now owns 13,344 shares in the company, valued at $427,008. The disclosure for this sale can be found here. 1.37% of the stock is currently owned by company insiders.
About Trustmark Corporation
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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