New York State Teachers Retirement System Lowers Position in Trustmark Corporation $TRMK

New York State Teachers Retirement System lessened its stake in Trustmark Corporation (NASDAQ:TRMK) by 37.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,058 shares of the financial services provider’s stock after selling 30,201 shares during the quarter. New York State Teachers Retirement System’s holdings in Trustmark were worth $2,152,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. UBS Group AG boosted its position in shares of Trustmark by 282.0% during the fourth quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock valued at $24,944,000 after buying an additional 472,751 shares during the last quarter. Wellington Management Group LLP raised its position in Trustmark by 8.9% in the 3rd quarter. Wellington Management Group LLP now owns 3,883,882 shares of the financial services provider’s stock valued at $153,802,000 after buying an additional 316,851 shares during the last quarter. Bridgeway Capital Management LLC lifted its stake in Trustmark by 156.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 389,333 shares of the financial services provider’s stock valued at $15,165,000 after acquiring an additional 237,266 shares in the last quarter. Empowered Funds LLC lifted its stake in Trustmark by 107.6% during the 4th quarter. Empowered Funds LLC now owns 245,602 shares of the financial services provider’s stock valued at $9,566,000 after acquiring an additional 127,284 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in Trustmark by 80.4% during the 3rd quarter. Bank of America Corp DE now owns 267,147 shares of the financial services provider’s stock valued at $10,579,000 after acquiring an additional 119,044 shares in the last quarter. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Trustmark Trading Up 0.8%

Shares of Trustmark stock opened at $46.27 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.89. The stock has a market capitalization of $2.71 billion, a P/E ratio of 12.24 and a beta of 0.65. Trustmark Corporation has a 52-week low of $36.05 and a 52-week high of $47.44. The stock’s 50-day simple moving average is $44.88 and its 200 day simple moving average is $43.31.

Trustmark (NASDAQ:TRMK) last posted its earnings results on Tuesday, April 28th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.08. Trustmark had a return on equity of 10.74% and a net margin of 20.12%.The firm had revenue of $208.07 million for the quarter, compared to the consensus estimate of $204.98 million. During the same quarter in the prior year, the business posted $0.88 earnings per share. As a group, research analysts anticipate that Trustmark Corporation will post 3.92 EPS for the current year.

Trustmark Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Monday, June 1st. Trustmark’s payout ratio is presently 26.46%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TRMK. DA Davidson reiterated a “neutral” rating and issued a $44.00 target price on shares of Trustmark in a research note on Wednesday, April 29th. Weiss Ratings raised shares of Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 1st. Keefe, Bruyette & Woods restated a “market perform” rating and set a $45.00 price target on shares of Trustmark in a report on Thursday, April 9th. Wall Street Zen upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Piper Sandler upped their price objective on shares of Trustmark from $44.00 to $45.50 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $44.75.

Trustmark Company Profile

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.