Trustmark Bank Trust Department Has $11.32 Million Stock Holdings in Trustmark Corporation $TRMK

Trustmark Bank Trust Department decreased its holdings in shares of Trustmark Corporation (NASDAQ:TRMK) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 285,856 shares of the financial services provider’s stock after selling 14,311 shares during the period. Trustmark Bank Trust Department’s holdings in Trustmark were worth $11,320,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Richardson Financial Services Inc. increased its holdings in Trustmark by 86.7% in the third quarter. Richardson Financial Services Inc. now owns 743 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 345 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Trustmark by 37.4% during the 3rd quarter. Bessemer Group Inc. now owns 1,073 shares of the financial services provider’s stock worth $42,000 after buying an additional 292 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Trustmark by 452.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock worth $46,000 after buying an additional 1,022 shares during the period. LSV Asset Management bought a new stake in shares of Trustmark in the 3rd quarter valued at $83,000. Finally, Smith Shellnut Wilson LLC ADV bought a new stake in shares of Trustmark in the 3rd quarter valued at $205,000. Institutional investors and hedge funds own 67.64% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on TRMK shares. Hovde Group increased their target price on shares of Trustmark from $42.00 to $44.50 and gave the stock a “market perform” rating in a research note on Thursday, January 29th. Wall Street Zen downgraded shares of Trustmark from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, January 21st. Finally, DA Davidson upped their price target on Trustmark from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $43.83.

Trustmark Stock Performance

NASDAQ TRMK opened at $42.02 on Friday. The company has a market cap of $2.47 billion, a P/E ratio of 11.33 and a beta of 0.68. The company has a fifty day simple moving average of $42.21 and a 200 day simple moving average of $40.31. 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 $29.77 and a 12-month high of $45.43.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.06. Trustmark had a net margin of 19.95% and a return on equity of 10.77%. The firm had revenue of $209.44 million for the quarter, compared to the consensus estimate of $207.05 million. During the same quarter in the prior year, the company posted $0.92 earnings per share. Sell-side analysts predict that Trustmark Corporation will post 3.42 earnings per share for the current fiscal year.

Trustmark Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 15th. Shareholders of record on Sunday, March 1st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.4%. This is an increase from Trustmark’s previous quarterly dividend of $0.24. Trustmark’s dividend payout ratio is presently 26.95%.

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.