ProShare Advisors LLC Has $696,000 Position in Trustmark Corporation (TRMK)
ProShare Advisors LLC cut its stake in Trustmark Corporation (NASDAQ:TRMK) by 12.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,632 shares of the financial services provider’s stock after selling 3,184 shares during the quarter. ProShare Advisors LLC’s holdings in Trustmark Corporation were worth $696,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Trustmark Corporation by 9.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,333 shares of the financial services provider’s stock worth $107,000 after buying an additional 296 shares during the period. Creative Planning increased its position in Trustmark Corporation by 7.0% during the second quarter. Creative Planning now owns 3,705 shares of the financial services provider’s stock valued at $119,000 after acquiring an additional 241 shares during the last quarter. Integrated Investment Consultants LLC increased its position in Trustmark Corporation by 13.8% during the second quarter. Integrated Investment Consultants LLC now owns 4,925 shares of the financial services provider’s stock valued at $158,000 after acquiring an additional 598 shares during the last quarter. LS Investment Advisors LLC raised its stake in shares of 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 acquiring an additional 941 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of Trustmark Corporation by 0.3% in the first quarter. Bank of Montreal Can now owns 5,759 shares of the financial services provider’s stock valued at $182,000 after acquiring an additional 20 shares during the period. Institutional investors own 62.36% of the company’s stock.
Shares of Trustmark Corporation (NASDAQ:TRMK) opened at 33.54 on Tuesday. The firm has a 50-day moving average price of $30.43 and a 200-day moving average price of $31.58. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 19.75 and a beta of 1.17. Trustmark Corporation has a 1-year low of $26.81 and a 1-year high of $36.79.
Trustmark Corporation (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.03. The firm had revenue of $157.10 million for the quarter, compared to analysts’ expectations of $152.57 million. Trustmark Corporation had a return on equity of 8.04% and a net margin of 18.35%. During the same period in the prior year, the firm posted $0.40 earnings per share. Equities analysts forecast that Trustmark Corporation will post $1.75 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.92 dividend on an annualized basis and a yield of 2.74%. Trustmark Corporation’s dividend payout ratio is currently 54.12%.
In other news, insider Charles Scott Woods sold 1,000 shares of the company’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $32.00, for a total value of $32,000.00. Following the transaction, the insider now owns 13,344 shares of the company’s stock, valued at approximately $427,008. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.37% of the stock is owned by insiders.
Several equities research analysts have recently issued reports on the stock. Stephens set a $35.00 target price on shares of Trustmark Corporation and gave the stock a “hold” rating in a report on Wednesday, July 26th. BidaskClub downgraded shares of Trustmark Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Jefferies Group LLC reiterated a “hold” rating and set a $35.00 price target on shares of Trustmark Corporation in a report on Friday, June 9th. Zacks Investment Research raised shares of Trustmark Corporation from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research report on Wednesday, June 28th. Finally, ValuEngine raised shares of Trustmark Corporation from a “hold” rating to a “buy” rating in a research report on Saturday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $33.60.
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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