State of Wyoming Buys Shares of 1,497 Trustmark Corporation $TRMK

State of Wyoming bought a new stake in Trustmark Corporation (NASDAQ:TRMK) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,497 shares of the financial services provider’s stock, valued at approximately $52,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lazard Asset Management LLC purchased a new position in shares of Trustmark in the 4th quarter valued at approximately $47,000. IFP Advisors Inc purchased a new stake in Trustmark in the 1st quarter valued at approximately $51,000. GAMMA Investing LLC boosted 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 valued at $62,000 after buying an additional 526 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new stake in shares of Trustmark in the fourth quarter valued at approximately $82,000. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Trustmark by 165.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 3,289 shares of the financial services provider’s stock valued at $116,000 after buying an additional 2,051 shares in the last quarter. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TRMK has been the topic of a number of analyst reports. DA Davidson lifted their price target on Trustmark from $39.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Hovde Group lifted their price target on Trustmark from $37.00 to $41.00 and gave the company a “market perform” rating in a research note on Thursday, July 24th. Finally, Wall Street Zen downgraded Trustmark from a “buy” rating to a “hold” rating in a research note on Saturday, June 7th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Trustmark currently has an average rating of “Hold” and a consensus price target of $41.00.

Insider Buying and Selling at Trustmark

In other news, Director Gerard R. Host sold 1,556 shares of the company’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $40.63, for a total value of $63,220.28. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Marcelo L. Eduardo sold 700 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $38.49, for a total value of $26,943.00. Following the completion of the sale, the director owned 8,577 shares in the company, valued at $330,128.73. This represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,226 shares of company stock worth $897,299 over the last 90 days. Company insiders own 1.50% of the company’s stock.

Trustmark Stock Down 1.1%

TRMK opened at $39.97 on Wednesday. The business’s fifty day moving average is $38.67 and its two-hundred day moving average is $35.86. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.88. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 11.23 and a beta of 0.71. Trustmark Corporation has a one year low of $29.77 and a one year high of $41.33.

Trustmark (NASDAQ:TRMK) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.06. Trustmark had a return on equity of 10.81% and a net margin of 19.21%.The company had revenue of $203.44 million for the quarter, compared to the consensus estimate of $200.35 million. During the same period in the previous year, the business earned $0.66 earnings per share. Analysts anticipate that Trustmark Corporation will post 3.42 EPS for the current fiscal year.

Trustmark Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.96 dividend on an annualized basis and a yield of 2.4%. Trustmark’s dividend payout ratio is presently 26.97%.

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 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.