Teacher Retirement System of Texas Decreases Stock Position in Trustmark Corporation (NASDAQ:TRMK)

Teacher Retirement System of Texas trimmed its stake in shares of Trustmark Corporation (NASDAQ:TRMK - Free Report) by 39.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,751 shares of the financial services provider's stock after selling 12,003 shares during the period. Teacher Retirement System of Texas' holdings in Trustmark were worth $647,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of TRMK. GAMMA Investing LLC grew its holdings in Trustmark by 41.0% during the 1st quarter. GAMMA Investing LLC now owns 1,809 shares of the financial services provider's stock valued at $62,000 after buying an additional 526 shares in the last quarter. Swiss National Bank lifted its position in Trustmark by 0.7% during the fourth quarter. Swiss National Bank now owns 114,400 shares of the financial services provider's stock valued at $4,046,000 after purchasing an additional 800 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its stake in shares of Trustmark by 7.6% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 11,930 shares of the financial services provider's stock worth $422,000 after buying an additional 847 shares in the last quarter. Prudential Financial Inc. increased its holdings in shares of Trustmark by 0.9% in the 4th quarter. Prudential Financial Inc. now owns 101,730 shares of the financial services provider's stock worth $3,881,000 after buying an additional 896 shares during the last quarter. Finally, Captrust Financial Advisors raised its position in shares of Trustmark by 14.0% during the 4th quarter. Captrust Financial Advisors now owns 7,722 shares of the financial services provider's stock valued at $273,000 after buying an additional 949 shares in the last quarter. Hedge funds and other institutional investors own 67.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TRMK. Wall Street Zen cut Trustmark from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Hovde Group raised their price target on Trustmark from $36.00 to $37.00 and gave the stock a "market perform" rating in a research report on Monday, April 28th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Trustmark from $45.00 to $43.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $39.80.

Trustmark Stock Up 0.7%

Shares of TRMK stock traded up $0.25 during mid-day trading on Friday, hitting $38.55. The stock had a trading volume of 378,382 shares, compared to its average volume of 306,374. The firm has a market capitalization of $2.33 billion, a P/E ratio of 10.04 and a beta of 0.66. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. Trustmark Corporation has a 12-month low of $29.77 and a 12-month high of $40.73. The firm's 50-day moving average is $35.94 and its two-hundred day moving average is $35.22.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.82 by $0.06. The business had revenue of $231.83 million during the quarter, compared to analyst estimates of $195.38 million. Trustmark had a net margin of 20.73% and a return on equity of 10.29%. On average, analysts predict that Trustmark Corporation will post 3.42 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st were paid a $0.24 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.96 annualized dividend and a yield of 2.49%. Trustmark's dividend payout ratio (DPR) is presently 25.00%.

About Trustmark

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.