Earnest Partners LLC Has $65.18 Million Holdings in Trustmark Corporation (TRMK)
Earnest Partners LLC raised its position in shares of Trustmark Corporation (NASDAQ:TRMK) by 16.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,026,880 shares of the financial services provider’s stock after purchasing an additional 292,290 shares during the quarter. Earnest Partners LLC owned 2.99% of Trustmark Corporation worth $65,184,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Sciencast Management LP bought a new stake in Trustmark Corporation during the 2nd quarter valued at about $264,000. Flinton Capital Management LLC increased its stake in Trustmark Corporation by 37.6% during the 2nd quarter. Flinton Capital Management LLC now owns 4,448 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 1,216 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in Trustmark Corporation during the 2nd quarter valued at about $946,000. Stifel Financial Corp increased its stake in Trustmark Corporation by 36.2% during the 2nd quarter. Stifel Financial Corp now owns 26,883 shares of the financial services provider’s stock valued at $865,000 after purchasing an additional 7,142 shares in the last quarter. Finally, Voya Investment Management LLC increased its stake in Trustmark Corporation by 10.5% during the 2nd quarter. Voya Investment Management LLC now owns 28,148 shares of the financial services provider’s stock valued at $905,000 after purchasing an additional 2,677 shares in the last quarter. Institutional investors and hedge funds own 62.36% of the company’s stock.
A number of research firms have weighed in on TRMK. Stephens set a $35.00 price objective on shares of Trustmark Corporation and gave the company a “hold” rating in a research note on Wednesday, July 26th. Zacks Investment Research lowered shares of Trustmark Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. BidaskClub upgraded shares of Trustmark Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Finally, ValuEngine lowered shares of Trustmark Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Trustmark Corporation presently has a consensus rating of “Hold” and an average price target of $33.60.
In other news, insider Charles Scott Woods sold 1,000 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $32.00, for a total transaction of $32,000.00. Following the transaction, the insider now owns 13,344 shares in the company, valued at $427,008. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.37% of the company’s stock.
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Trustmark Corporation (NASDAQ TRMK) traded down 0.06% during mid-day trading on Friday, reaching $33.20. 222,692 shares of the company’s stock were exchanged. The company’s 50-day moving average is $30.77 and its 200 day moving average is $31.61. The firm has a market capitalization of $2.25 billion, a P/E ratio of 19.55 and a beta of 1.17. Trustmark Corporation has a one year low of $26.81 and a one year high of $36.79.
Trustmark Corporation (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.03. The business had revenue of $157.10 million during the quarter, compared to analyst estimates of $152.57 million. Trustmark Corporation had a net margin of 18.35% and a return on equity of 8.04%. During the same period in the prior year, the firm posted $0.40 earnings per share. Equities analysts predict that Trustmark Corporation will post $1.75 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.77%. Trustmark Corporation’s dividend payout ratio (DPR) is currently 54.12%.
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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