BNP Paribas Arbitrage SA trimmed its holdings in shares of Trustmark Corp (NASDAQ:TRMK) by 58.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,124 shares of the financial services provider’s stock after selling 28,817 shares during the period. BNP Paribas Arbitrage SA’s holdings in Trustmark were worth $627,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of TRMK. Schwab Charles Investment Management Inc. boosted its stake in Trustmark by 3.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 439,994 shares of the financial services provider’s stock valued at $14,019,000 after purchasing an additional 13,866 shares during the last quarter. SG Americas Securities LLC boosted its stake in Trustmark by 247.1% during the 4th quarter. SG Americas Securities LLC now owns 13,931 shares of the financial services provider’s stock valued at $444,000 after purchasing an additional 9,918 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in Trustmark during the 4th quarter valued at $744,000. California Public Employees Retirement System boosted its stake in Trustmark by 5.5% during the 4th quarter. California Public Employees Retirement System now owns 156,745 shares of the financial services provider’s stock valued at $4,994,000 after purchasing an additional 8,185 shares during the last quarter. Finally, Swiss National Bank boosted its stake in Trustmark by 2.1% during the 4th quarter. Swiss National Bank now owns 114,200 shares of the financial services provider’s stock valued at $3,638,000 after purchasing an additional 2,400 shares during the last quarter. Institutional investors and hedge funds own 61.01% of the company’s stock.
Several equities analysts have recently weighed in on the company. Zacks Investment Research cut Trustmark from a “hold” rating to a “sell” rating in a report on Tuesday, March 13th. BidaskClub raised Trustmark from a “hold” rating to a “buy” rating in a report on Thursday, June 21st. Finally, ValuEngine cut Trustmark from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $34.50.
Trustmark (NASDAQ:TRMK) last announced its earnings results on Tuesday, April 24th. The financial services provider reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.05. Trustmark had a return on equity of 8.67% and a net margin of 16.75%. The company had revenue of $152.10 million for the quarter, compared to analysts’ expectations of $148.64 million. During the same period last year, the firm earned $0.46 EPS. Trustmark’s revenue for the quarter was up 2.5% compared to the same quarter last year. analysts forecast that Trustmark Corp will post 2.19 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Friday, June 1st were issued a $0.23 dividend. The ex-dividend date was Thursday, May 31st. This represents a $0.92 dividend on an annualized basis and a yield of 2.82%. Trustmark’s dividend payout ratio is currently 47.92%.
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 offers checking, savings, and money market accounts; individual retirement accounts; certificates of deposits; 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.
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