State of New Jersey Common Pension Fund D Has $2.27 Million Stake in Trustmark Co. (NASDAQ:TRMK)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Trustmark Co. (NASDAQ:TRMK – Get Rating) by 9.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,103 shares of the financial services provider’s stock after selling 7,584 shares during the period. State of New Jersey Common Pension Fund D owned 0.12% of Trustmark worth $2,270,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TRMK. Wipfli Financial Advisors LLC acquired a new stake in Trustmark during the 3rd quarter valued at $26,000. Russell Investments Group Ltd. acquired a new stake in Trustmark during the 2nd quarter valued at $29,000. Ronald Blue Trust Inc. acquired a new stake in Trustmark during the 2nd quarter valued at $42,000. First Horizon Advisors Inc. acquired a new stake in Trustmark during the 2nd quarter valued at $61,000. Finally, Citizens National Bank Trust Department acquired a new stake in Trustmark during the 2nd quarter valued at $88,000. 65.83% of the stock is owned by institutional investors and hedge funds.

Trustmark Stock Up 0.3 %

NASDAQ TRMK opened at $35.16 on Tuesday. Trustmark Co. has a 52 week low of $26.67 and a 52 week high of $38.47. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.79 and a current ratio of 0.80. The stock has a market capitalization of $2.14 billion, a P/E ratio of 16.43 and a beta of 0.86. The stock has a fifty day moving average of $35.40 and a 200-day moving average of $33.43.

Trustmark (NASDAQ:TRMK – Get Rating) last posted its quarterly earnings results on Tuesday, October 25th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.05. Trustmark had a return on equity of 8.17% and a net margin of 19.12%. The business had revenue of $191.69 million for the quarter, compared to analyst estimates of $177.20 million. On average, equities research analysts forecast that Trustmark Co. will post 2.54 EPS for the current year.

Trustmark Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were given a $0.23 dividend. The ex-dividend date was Wednesday, November 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.62%. Trustmark’s dividend payout ratio is currently 42.99%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. DA Davidson assumed coverage on Trustmark in a research note on Monday, January 9th. They issued a “neutral” rating and a $38.00 target price for the company. Hovde Group lifted their target price on Trustmark to $38.00 in a research note on Tuesday, November 1st. Finally, StockNews.com assumed coverage on Trustmark in a research note on Wednesday, October 12th. They issued a “hold” rating for the company.

About Trustmark

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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.