Rafferty Asset Management LLC Cuts Stock Position in Trustmark Co. (NASDAQ:TRMK)

Rafferty Asset Management LLC lessened its holdings in shares of Trustmark Co. (NASDAQ:TRMK - Free Report) by 12.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,170 shares of the financial services provider's stock after selling 7,734 shares during the period. Rafferty Asset Management LLC owned 0.09% of Trustmark worth $1,951,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Jones Financial Companies Lllp bought a new position in Trustmark in the 4th quarter worth about $37,000. Lazard Asset Management LLC purchased a new stake in shares of Trustmark during the 4th quarter valued at about $47,000. Sterling Capital Management LLC increased its position in shares of Trustmark by 817.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,918 shares of the financial services provider's stock valued at $68,000 after purchasing an additional 1,709 shares during the last quarter. KBC Group NV increased its position in shares of Trustmark by 43.0% during the 4th quarter. KBC Group NV now owns 3,163 shares of the financial services provider's stock valued at $112,000 after purchasing an additional 951 shares during the last quarter. Finally, Cibc World Markets Corp purchased a new stake in shares of Trustmark during the 4th quarter valued at about $201,000. Institutional investors own 67.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TRMK shares. Keefe, Bruyette & Woods reduced their price target on shares of Trustmark from $45.00 to $43.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. DA Davidson raised their target price on shares of Trustmark from $40.00 to $41.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th. Hovde Group raised their target price on shares of Trustmark from $36.00 to $37.00 and gave the stock a "market perform" rating in a research note on Monday, April 28th. Finally, Janney Montgomery Scott initiated coverage on shares of Trustmark in a research note on Friday, January 24th. They set a "buy" rating and a $42.00 target price on the stock. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $39.80.

Trustmark Trading Down 0.3%

NASDAQ TRMK traded down $0.10 on Friday, hitting $34.61. 396,172 shares of the stock were exchanged, compared to its average volume of 304,046. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. The stock has a fifty day moving average price of $33.88 and a two-hundred day moving average price of $35.72. The firm has a market capitalization of $2.09 billion, a P/E ratio of 9.51 and a beta of 0.63. Trustmark Co. has a 52-week low of $27.42 and a 52-week high of $40.73.

Trustmark (NASDAQ:TRMK - Get Free Report) last released its earnings results on Tuesday, April 22nd. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.06. The business had revenue of $231.83 million during the quarter, compared to the consensus estimate of $195.38 million. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. Research analysts forecast that Trustmark Co. will post 3.42 EPS for the current fiscal year.

Trustmark Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.96 annualized dividend and a dividend yield of 2.77%. Trustmark's payout ratio is currently 25.00%.

Trustmark Company Profile

Trustmark Corporation operates as the bank holding company for Trustmark National Bank that provides banking and other financial solutions to individuals and corporate institutions in the United States. The company operates through three segments: General Banking, Wealth Management, and Insurance. It offers checking, savings, and money market accounts; certificates of deposits and individual retirement accounts; financing for commercial and industrial projects, income-producing commercial real estate, owner-occupied real estate, and construction and land development; and installment and real estate loans, and lines of credit, as well as treasury management services.