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

Teacher Retirement System of Texas decreased its holdings in Trustmark Corporation (NASDAQ:TRMK) by 39.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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.

Other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp purchased a new stake in shares of Trustmark in the fourth quarter valued at $37,000. Lazard Asset Management LLC bought a new position in Trustmark during the 4th quarter valued at about $47,000. GAMMA Investing LLC raised its position in Trustmark by 41.0% in the 1st 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 period. Sterling Capital Management LLC lifted its stake in 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 position in shares of Trustmark during the fourth quarter valued at approximately $82,000. Institutional investors own 67.64% of the company’s stock.

Trustmark Price Performance

Shares of TRMK stock opened at $37.59 on Wednesday. Trustmark Corporation has a twelve month low of $29.77 and a twelve month high of $40.73. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The stock has a fifty day simple moving average of $35.74 and a two-hundred day simple moving average of $35.16. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 9.79 and a beta of 0.66.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. The company 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 EPS for the current fiscal year.

Trustmark Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Sunday, June 1st were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date was Friday, May 30th. Trustmark’s dividend payout ratio (DPR) is 25.00%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TRMK. Wall Street Zen downgraded Trustmark from a “buy” rating to a “hold” rating in a report on Saturday, June 7th. Hovde Group upped their price target on shares of Trustmark from $36.00 to $37.00 and gave the stock a “market perform” rating in a report on Monday, April 28th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Trustmark from $45.00 to $43.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.