Trustmark Corporation (TRMK) Shares Bought by Prudential Financial Inc.
Prudential Financial Inc. grew its stake in Trustmark Corporation (NASDAQ:TRMK) by 9.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,495 shares of the financial services provider’s stock after buying an additional 4,460 shares during the period. Prudential Financial Inc. owned 0.07% of Trustmark Corporation worth $1,592,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Trustmark Corporation by 18,306.5% during the first quarter. BlackRock Inc. now owns 9,862,184 shares of the financial services provider’s stock worth $313,520,000 after buying an additional 9,808,604 shares during the period. Vanguard Group Inc. grew its holdings in shares of Trustmark Corporation by 5.5% during the first quarter. Vanguard Group Inc. now owns 5,509,048 shares of the financial services provider’s stock valued at $175,133,000 after buying an additional 286,219 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Trustmark Corporation by 3.8% during the first quarter. Dimensional Fund Advisors LP now owns 4,843,163 shares of the financial services provider’s stock valued at $153,965,000 after buying an additional 179,142 shares during the last quarter. State Street Corp grew its holdings in shares of Trustmark Corporation by 12.7% during the first quarter. State Street Corp now owns 3,447,765 shares of the financial services provider’s stock valued at $109,605,000 after buying an additional 388,060 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Trustmark Corporation by 3.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,228,995 shares of the financial services provider’s stock valued at $39,525,000 after acquiring an additional 38,844 shares during the period. Institutional investors and hedge funds own 62.36% of the company’s stock.
Shares of Trustmark Corporation (TRMK) opened at 33.12 on Monday. Trustmark Corporation has a 52 week low of $26.81 and a 52 week high of $36.79. The firm’s 50-day moving average is $30.20 and its 200 day moving average is $31.58. The firm has a market capitalization of $2.24 billion, a PE ratio of 19.51 and a beta of 1.15.
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, topping 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 company had revenue of $157.10 million for the quarter, compared to analyst estimates of $152.57 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. On average, equities analysts forecast that Trustmark Corporation will post $1.75 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.78%. The ex-dividend date was Wednesday, August 30th. Trustmark Corporation’s payout ratio is currently 54.12%.
A number of brokerages recently issued reports on TRMK. Zacks Investment Research upgraded Trustmark Corporation from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Wednesday, June 28th. ValuEngine raised Trustmark Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Stephens set a $35.00 price target on Trustmark Corporation and gave the company a “hold” rating in a research note on Wednesday, July 26th. Jefferies Group LLC reiterated a “hold” rating and set a $35.00 price target on shares of Trustmark Corporation in a research note on Friday, June 9th. Finally, BidaskClub raised Trustmark Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Trustmark Corporation has an average rating of “Hold” and a consensus target price of $33.60.
In other news, insider Charles Scott Woods sold 1,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 13,344 shares in the company, valued at $427,008. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.37% of the stock is currently owned by corporate 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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