JPMorgan Chase & Co. boosted its stake in Trustmark Corp. (NASDAQ:TRMK) by 123.2% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 787,222 shares of the financial services provider’s stock after buying an additional 434,479 shares during the period. JPMorgan Chase & Co. owned approximately 1.16% of Trustmark Corp. worth $19,562,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of TRMK. Janney Montgomery Scott LLC purchased a new position in Trustmark Corp. during the second quarter valued at approximately $203,000. Keel Point LLC bought a new position in Trustmark Corp. during the second quarter valued at about $210,000. Connable Office Inc. bought a new position in Trustmark Corp. during the second quarter valued at about $215,000. Suntrust Banks Inc. boosted its position in Trustmark Corp. by 5.6% in the second quarter. Suntrust Banks Inc. now owns 13,014 shares of the financial services provider’s stock valued at $323,000 after buying an additional 692 shares during the period. Finally, First Midwest Bank Trust Division bought a new position in Trustmark Corp. during the second quarter valued at about $333,000. Hedge funds and other institutional investors own 61.26% of the company’s stock.
Trustmark Corp. (NASDAQ:TRMK) traded up 0.81% during mid-day trading on Tuesday, reaching $27.48. 109,506 shares of the company traded hands. The firm has a market cap of $1.86 billion, a PE ratio of 17.73 and a beta of 1.21. Trustmark Corp. has a one year low of $19.75 and a one year high of $28.71. The stock’s 50-day moving average price is $27.67 and its 200-day moving average price is $25.14.
Trustmark Corp. (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Trustmark Corp. had a net margin of 17.44% and a return on equity of 7.47%. During the same quarter in the prior year, the business posted $0.45 earnings per share. Analysts forecast that Trustmark Corp. will post $1.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.37%. The ex-dividend date was Tuesday, August 30th. Trustmark Corp.’s dividend payout ratio is currently 59.36%.
TRMK has been the subject of several recent analyst reports. SunTrust Banks Inc. increased their price objective on shares of Trustmark Corp. from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, June 9th. Zacks Investment Research upgraded shares of Trustmark Corp. from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Tuesday, June 14th. Jefferies Group reiterated a “hold” rating and issued a $25.00 price objective on shares of Trustmark Corp. in a report on Thursday, July 7th. Finally, Keefe, Bruyette & Woods upgraded shares of Trustmark Corp. from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $23.00 to $25.00 in a report on Thursday, July 28th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Trustmark Corp. has an average rating of “Hold” and an average target price of $25.75.
About Trustmark Corp.
Trustmark Corporation (Trustmark) is a bank holding company. Trustmark’s principal subsidiary is Trustmark National Bank (TNB). Through TNB and other subsidiaries, Trustmark operates as a financial services organization providing banking and other financial solutions through approximately 205 offices in Alabama, Florida, Mississippi, Tennessee and Texas.
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