Teacher Retirement System of Texas Sells 12,003 Shares of Trustmark Corporation (NASDAQ:TRMK)

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

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TRMK. Jones Financial Companies Lllp acquired a new position in Trustmark during the 4th quarter worth approximately $37,000. Lazard Asset Management LLC purchased a new stake in shares of Trustmark in the fourth quarter worth approximately $47,000. GAMMA Investing LLC raised its stake in shares of Trustmark by 41.0% in the first quarter. GAMMA Investing LLC now owns 1,809 shares of the financial services provider's stock worth $62,000 after purchasing an additional 526 shares during the last quarter. Sterling Capital Management LLC raised its stake in shares of Trustmark by 817.7% in the fourth quarter. Sterling Capital Management LLC now owns 1,918 shares of the financial services provider's stock worth $68,000 after purchasing an additional 1,709 shares during the last quarter. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of Trustmark in the fourth quarter worth approximately $82,000. Institutional investors and hedge funds own 67.64% of the company's stock.

Trustmark Trading Up 0.7%

Shares of TRMK stock traded up $0.25 during mid-day trading on Friday, reaching $38.55. The company's stock had a trading volume of 378,382 shares, compared to its average volume of 306,374. The company's 50 day simple moving average is $35.94 and its 200-day simple moving average is $35.22. Trustmark Corporation has a 12-month low of $29.77 and a 12-month high of $40.73. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $2.33 billion, a PE ratio of 10.04 and a beta of 0.66.

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. Trustmark had a net margin of 20.73% and a return on equity of 10.29%. The business had revenue of $231.83 million during the quarter, compared to analyst estimates of $195.38 million. On average, research analysts predict that Trustmark Corporation will post 3.42 EPS for the current fiscal year.

Trustmark Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Sunday, June 1st were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend was Friday, May 30th. Trustmark's payout ratio is presently 25.00%.

Wall Street Analyst Weigh In

Several research firms have weighed in on TRMK. Hovde Group lifted their price objective on Trustmark from $36.00 to $37.00 and gave the company a "market perform" rating in a research report on Monday, April 28th. Keefe, Bruyette & Woods decreased 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. Finally, Wall Street Zen downgraded shares of Trustmark from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Trustmark presently has a consensus rating of "Hold" and an average target price of $39.80.

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.