Oppenheimer Asset Management Inc. trimmed its holdings in Trustmark Corp (NASDAQ:TRMK) by 1.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,407 shares of the financial services provider’s stock after selling 689 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.06% of Trustmark worth $1,412,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in TRMK. Campbell & CO Investment Adviser LLC purchased a new position in Trustmark in the 2nd quarter valued at approximately $982,000. Oregon Public Employees Retirement Fund grew its stake in Trustmark by 1.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 26,880 shares of the financial services provider’s stock valued at $894,000 after buying an additional 373 shares in the last quarter. First Midwest Bank Trust Division grew its stake in Trustmark by 123.4% in the 2nd quarter. First Midwest Bank Trust Division now owns 14,852 shares of the financial services provider’s stock valued at $494,000 after buying an additional 8,205 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in Trustmark in the 2nd quarter valued at approximately $49,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in Trustmark in the 2nd quarter valued at approximately $508,000. Institutional investors and hedge funds own 66.67% of the company’s stock.
A number of research analysts have recently commented on TRMK shares. ValuEngine upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Zacks Investment Research upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Saturday, October 26th. Finally, BidaskClub lowered shares of Trustmark from a “hold” rating to a “sell” rating in a research report on Saturday, November 23rd. Three investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $35.00.
TRMK opened at $34.36 on Friday. The company has a fifty day moving average price of $34.61 and a 200-day moving average price of $33.68. The firm has a market capitalization of $2.22 billion, a P/E ratio of 15.55 and a beta of 1.09. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.85 and a quick ratio of 0.83. Trustmark Corp has a one year low of $26.84 and a one year high of $36.63.
Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. Trustmark had a net margin of 21.68% and a return on equity of 9.51%. The firm had revenue of $160.05 million during the quarter, compared to analyst estimates of $160.21 million. During the same period in the previous year, the business earned $0.54 EPS. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, analysts expect that Trustmark Corp will post 2.37 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be given a $0.23 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.92 annualized dividend and a yield of 2.68%. Trustmark’s dividend payout ratio (DPR) is presently 41.63%.
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 offers checking, savings, and money market accounts; individual retirement accounts; certificates of deposits; 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.
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