Parallel Advisors LLC Purchases 1,607 Shares of Trustmark Corp (NASDAQ:TRMK)
Parallel Advisors LLC raised its position in Trustmark Corp (NASDAQ:TRMK) by 41.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 5,476 shares of the financial services provider’s stock after buying an additional 1,607 shares during the period. Parallel Advisors LLC’s holdings in Trustmark were worth $182,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in Trustmark by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,475,878 shares of the financial services provider’s stock valued at $155,679,000 after buying an additional 33,023 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Trustmark by 110.9% in the 1st quarter. JPMorgan Chase & Co. now owns 1,543,380 shares of the financial services provider’s stock valued at $51,904,000 after buying an additional 811,674 shares during the last quarter. Geode Capital Management LLC boosted its position in Trustmark by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 768,479 shares of the financial services provider’s stock valued at $21,847,000 after buying an additional 38,130 shares during the last quarter. New York State Common Retirement Fund boosted its position in Trustmark by 0.5% in the 1st quarter. New York State Common Retirement Fund now owns 573,113 shares of the financial services provider’s stock valued at $19,274,000 after buying an additional 2,900 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in Trustmark by 117.1% in the 1st quarter. Acadian Asset Management LLC now owns 335,894 shares of the financial services provider’s stock valued at $11,296,000 after buying an additional 181,167 shares during the last quarter. Hedge funds and other institutional investors own 67.97% of the company’s stock.
In other news, insider Breck W. Tyler sold 19,398 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $33.70, for a total value of $653,712.60. Following the transaction, the insider now directly owns 23,656 shares in the company, valued at approximately $797,207.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is owned by company insiders.
Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.08. Trustmark had a return on equity of 9.28% and a net margin of 21.20%. The business had revenue of $157.40 million for the quarter, compared to analyst estimates of $156.35 million. During the same period last year, the company earned $0.59 EPS. As a group, equities research analysts expect that Trustmark Corp will post 2.35 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st will be given a $0.23 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.92 annualized dividend and a dividend yield of 2.82%. Trustmark’s dividend payout ratio is currently 41.63%.
A number of research analysts have commented on TRMK shares. BidaskClub upgraded Trustmark from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 27th. Zacks Investment Research lowered Trustmark from a “buy” rating to a “hold” rating in a research report on Thursday. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $33.75.
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.
Further Reading: Equity Income
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