Public Sector Pension Investment Board Acquires 60,340 Shares of Trustmark Corporation $TRMK

Public Sector Pension Investment Board boosted its holdings in Trustmark Corporation (NASDAQ:TRMK) by 29.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 266,557 shares of the financial services provider’s stock after buying an additional 60,340 shares during the period. Public Sector Pension Investment Board’s holdings in Trustmark were worth $10,556,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Bessemer Group Inc. lifted its stake in shares of Trustmark by 37.4% in the 3rd quarter. Bessemer Group Inc. now owns 1,073 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 292 shares during the period. California State Teachers Retirement System increased its holdings in Trustmark by 0.6% in the second quarter. California State Teachers Retirement System now owns 53,630 shares of the financial services provider’s stock valued at $1,955,000 after purchasing an additional 313 shares during the last quarter. Richardson Financial Services Inc. lifted its stake in Trustmark by 86.7% in the third quarter. Richardson Financial Services Inc. now owns 743 shares of the financial services provider’s stock valued at $29,000 after buying an additional 345 shares during the period. Lazard Asset Management LLC boosted its holdings in Trustmark by 1.0% during the second quarter. Lazard Asset Management LLC now owns 35,132 shares of the financial services provider’s stock worth $1,280,000 after buying an additional 353 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its position in shares of Trustmark by 6.1% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 13,738 shares of the financial services provider’s stock worth $501,000 after buying an additional 788 shares during the period. Institutional investors and hedge funds own 67.64% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TRMK. Wall Street Zen downgraded shares of Trustmark from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, January 21st. Hovde Group lifted their price target on shares of Trustmark from $42.00 to $44.50 and gave the stock a “market perform” rating in a research report on Thursday, January 29th. Finally, DA Davidson upped their price objective on shares of Trustmark from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Trustmark currently has an average rating of “Hold” and an average price target of $43.83.

Trustmark Stock Performance

Shares of TRMK opened at $44.73 on Monday. The firm has a market cap of $2.68 billion, a P/E ratio of 12.06 and a beta of 0.69. Trustmark Corporation has a twelve month low of $29.77 and a twelve month high of $44.96. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.89. The firm’s 50 day moving average price is $41.23 and its two-hundred day moving average price is $39.71.

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

Trustmark Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, March 15th. Stockholders of record on Sunday, March 1st will be given a dividend of $0.25 per share. This is an increase from Trustmark’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, February 27th. Trustmark’s payout ratio is currently 25.88%.

Trustmark Company 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.