JPMorgan Chase & Co. lowered its position in Trustmark Corp (NASDAQ:TRMK) by 10.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 756,507 shares of the financial services provider’s stock after selling 84,946 shares during the quarter. JPMorgan Chase & Co. owned about 1.12% of Trustmark worth $23,573,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Swiss National Bank raised its stake in shares of Trustmark by 2.1% in the fourth quarter. Swiss National Bank now owns 114,200 shares of the financial services provider’s stock valued at $3,638,000 after acquiring an additional 2,400 shares during the period. BancorpSouth Bank bought a new position in shares of Trustmark in the fourth quarter worth about $779,000. Deutsche Bank AG grew its holdings in shares of Trustmark by 28.8% in the fourth quarter. Deutsche Bank AG now owns 356,703 shares of the financial services provider’s stock worth $11,361,000 after purchasing an additional 79,706 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Trustmark by 247.1% in the fourth quarter. SG Americas Securities LLC now owns 13,931 shares of the financial services provider’s stock worth $444,000 after purchasing an additional 9,918 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Trustmark by 8.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 179,811 shares of the financial services provider’s stock worth $5,729,000 after purchasing an additional 13,460 shares during the last quarter. 61.19% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ TRMK opened at $32.57 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.23 billion, a PE ratio of 16.96 and a beta of 1.03. Trustmark Corp has a 12 month low of $28.16 and a 12 month high of $35.09.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Friday, June 1st will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.82%. The ex-dividend date is Thursday, May 31st. Trustmark’s payout ratio is 47.92%.
A number of research firms have recently commented on TRMK. BidaskClub upgraded shares of Trustmark from a “hold” rating to a “buy” rating in a report on Thursday, June 7th. Zacks Investment Research cut shares of Trustmark from a “hold” rating to a “sell” rating in a report on Tuesday, March 13th. Finally, ValuEngine cut shares of Trustmark from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Eight equities research analysts have rated the stock with a hold rating, Trustmark currently has an average rating of “Hold” and a consensus price target of $34.00.
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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