New York State Common Retirement Fund Has $690,000 Stock Holdings in Trustmark Co. (NASDAQ:TRMK)

New York State Common Retirement Fund boosted its holdings in shares of Trustmark Co. (NASDAQ:TRMK) by 8.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,513 shares of the financial services provider’s stock after buying an additional 1,500 shares during the period. New York State Common Retirement Fund’s holdings in Trustmark were worth $690,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. State Street Corp increased its position in Trustmark by 0.8% in the 3rd quarter. State Street Corp now owns 3,090,988 shares of the financial services provider’s stock worth $98,355,000 after purchasing an additional 24,450 shares during the last quarter. Geode Capital Management LLC increased its position in Trustmark by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,461,545 shares of the financial services provider’s stock worth $46,515,000 after purchasing an additional 15,627 shares during the last quarter. Wellington Management Group LLP increased its position in Trustmark by 32.6% in the 3rd quarter. Wellington Management Group LLP now owns 1,356,853 shares of the financial services provider’s stock worth $43,175,000 after purchasing an additional 333,390 shares during the last quarter. Verition Fund Management LLC increased its position in Trustmark by 19.8% in the 3rd quarter. Verition Fund Management LLC now owns 778,312 shares of the financial services provider’s stock worth $24,766,000 after purchasing an additional 128,834 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Trustmark by 6.8% in the 3rd quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider’s stock worth $19,059,000 after purchasing an additional 37,989 shares during the last quarter. 67.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TRMK. Janney Montgomery Scott began coverage on Trustmark in a research note on Friday, January 24th. They set a “buy” rating and a $42.00 price target for the company. Keefe, Bruyette & Woods upped their price target on Trustmark from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Finally, DA Davidson increased their target price on Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Trustmark currently has an average rating of “Hold” and an average target price of $38.67.

Trustmark Stock Up 0.4 %

Shares of NASDAQ:TRMK opened at $36.73 on Tuesday. Trustmark Co. has a 52 week low of $25.24 and a 52 week high of $40.73. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. The company has a market capitalization of $2.23 billion, a PE ratio of 10.09 and a beta of 0.76. The company has a 50 day moving average price of $36.23 and a two-hundred day moving average price of $35.30.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.09. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. Analysts forecast that Trustmark Co. will post 3.42 earnings per share for the current year.

Trustmark Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a yield of 2.61%. This is a boost from Trustmark’s previous quarterly dividend of $0.23. Trustmark’s dividend payout ratio (DPR) is currently 26.37%.

Trustmark Profile

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 operates through three segments: General Banking, Wealth Management, and Insurance. It offers checking, savings, and money market accounts; certificates of deposits and individual retirement accounts; 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, as well as treasury management services.