State of Alaska Department of Revenue Cuts Stock Holdings in Trustmark Corporation (NASDAQ:TRMK)

State of Alaska Department of Revenue decreased its holdings in shares of Trustmark Corporation (NASDAQ:TRMK) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,804 shares of the financial services provider’s stock after selling 917 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Trustmark worth $1,165,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Trustmark by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 6,686,247 shares of the financial services provider’s stock worth $236,493,000 after purchasing an additional 30,057 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Trustmark by 82.2% during the fourth quarter. Wellington Management Group LLP now owns 2,472,561 shares of the financial services provider’s stock worth $87,454,000 after purchasing an additional 1,115,708 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Trustmark by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 894,807 shares of the financial services provider’s stock worth $31,649,000 after purchasing an additional 6,683 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Trustmark by 5.0% during the fourth quarter. Northern Trust Corp now owns 808,844 shares of the financial services provider’s stock worth $28,609,000 after purchasing an additional 38,594 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Trustmark by 1.9% during the fourth quarter. Invesco Ltd. now owns 598,861 shares of the financial services provider’s stock worth $21,182,000 after purchasing an additional 11,081 shares in the last quarter. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Wall Street Analyst Weigh In

TRMK has been the subject of several recent analyst reports. Wall Street Zen lowered Trustmark from a “buy” rating to a “hold” rating in a report on Saturday, June 7th. Keefe, Bruyette & Woods cut their target price on Trustmark from $45.00 to $43.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Finally, Hovde Group upped their target price on Trustmark from $36.00 to $37.00 and gave the stock a “market perform” rating in a research note on Monday, April 28th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Trustmark has an average rating of “Hold” and a consensus price target of $39.80.

Trustmark Stock Down 0.3%

Shares of TRMK opened at $35.33 on Thursday. The firm has a market cap of $2.14 billion, a P/E ratio of 9.20 and a beta of 0.66. The stock has a 50 day simple moving average of $34.57 and a two-hundred day simple moving average of $35.05. 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 1 year low of $28.37 and a 1 year high of $40.73.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, April 22nd. The financial services provider reported $0.88 earnings per share (EPS) 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 analyst estimates of $195.38 million. Trustmark had a return on equity of 10.29% and a net margin of 20.73%. On average, analysts forecast that Trustmark Corporation will post 3.42 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend was Friday, May 30th. Trustmark’s dividend payout ratio (DPR) is presently 25.00%.

Trustmark 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.