New York State Teachers Retirement System Has $2.15 Million Stock Position in Trustmark Corporation $TRMK

New York State Teachers Retirement System reduced its holdings in Trustmark Corporation (NASDAQ:TRMK) by 37.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. 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 owned about 0.09% of Trustmark worth $2,152,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc grew its position in shares of Trustmark by 24.1% during the 3rd quarter. IFP Advisors Inc now owns 1,375 shares of the financial services provider’s stock worth $54,000 after buying an additional 267 shares during the period. Wedge Capital Management L L P NC lifted its position in shares of Trustmark by 0.9% during the 4th quarter. Wedge Capital Management L L P NC now owns 29,552 shares of the financial services provider’s stock valued at $1,151,000 after acquiring an additional 269 shares during the period. California State Teachers Retirement System lifted its position in shares of Trustmark by 0.6% during the 2nd quarter. California State Teachers Retirement System now owns 53,630 shares of the financial services provider’s stock valued at $1,955,000 after acquiring an additional 313 shares during the period. Lazard Asset Management LLC boosted its stake in Trustmark by 1.0% during the second quarter. Lazard Asset Management LLC now owns 35,132 shares of the financial services provider’s stock worth $1,280,000 after acquiring an additional 353 shares in the last quarter. Finally, Barnes Pettey Financial Advisors LLC boosted its stake in Trustmark by 4.1% during the fourth quarter. Barnes Pettey Financial Advisors LLC now owns 11,336 shares of the financial services provider’s stock worth $442,000 after acquiring an additional 450 shares in the last quarter. 67.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Piper Sandler lifted their price target on shares of Trustmark from $44.00 to $45.50 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $45.00 price objective on shares of Trustmark in a research report on Thursday, April 9th. Wall Street Zen upgraded Trustmark from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings raised Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 1st. Finally, DA Davidson reaffirmed a “neutral” rating and set a $44.00 price target on shares of Trustmark in a research note on Wednesday, April 29th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $44.75.

Trustmark Stock Performance

NASDAQ TRMK opened at $46.27 on Friday. The company has a market cap of $2.71 billion, a P/E ratio of 12.24 and a beta of 0.65. The company has a fifty day simple moving average of $44.88 and a 200 day simple moving average of $43.31. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11. Trustmark Corporation has a 12-month low of $36.05 and a 12-month high of $47.44.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.08. Trustmark had a net margin of 20.12% and a return on equity of 10.74%. 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 company posted $0.88 earnings per share. Sell-side analysts predict that Trustmark Corporation will post 3.92 earnings per share for the current fiscal year.

Trustmark Announces Dividend

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

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.