Dimensional Fund Advisors LP Lowers Position in Trustmark Corporation $TRMK

Dimensional Fund Advisors LP trimmed its position in shares of Trustmark Corporation (NASDAQ:TRMK) by 0.5% during the third quarter, HoldingsChannel reports. The fund owned 3,909,740 shares of the financial services provider’s stock after selling 20,045 shares during the quarter. Dimensional Fund Advisors LP owned about 0.07% of Trustmark worth $154,826,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its position in Trustmark by 37.4% in the third quarter. Bessemer Group Inc. now owns 1,073 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 292 shares during the period. California State Teachers Retirement System increased its position in Trustmark by 0.6% during the 2nd quarter. California State Teachers Retirement System now owns 53,630 shares of the financial services provider’s stock worth $1,955,000 after purchasing an additional 313 shares during the period. Richardson Financial Services Inc. raised its stake in shares of Trustmark by 86.7% during the 3rd quarter. Richardson Financial Services Inc. now owns 743 shares of the financial services provider’s stock worth $29,000 after buying an additional 345 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Trustmark by 1.0% during the 2nd quarter. Lazard Asset Management LLC now owns 35,132 shares of the financial services provider’s stock worth $1,280,000 after buying an additional 353 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of Trustmark by 6.1% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 13,738 shares of the financial services provider’s stock valued at $501,000 after buying an additional 788 shares during the period. 67.64% of the stock is owned by hedge funds and other institutional investors.

Trustmark Stock Performance

TRMK opened at $41.78 on Tuesday. Trustmark Corporation has a 1-year low of $29.77 and a 1-year high of $45.43. The stock has a market cap of $2.46 billion, a P/E ratio of 11.26 and a beta of 0.68. The stock’s 50 day simple moving average is $42.24 and its 200 day simple moving average is $40.36. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.87.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.06. The firm had revenue of $209.44 million during the quarter, compared to analysts’ expectations of $207.05 million. Trustmark had a return on equity of 10.77% and a net margin of 19.95%.During the same period in the previous year, the firm posted $0.92 earnings per share. As a group, equities analysts anticipate that Trustmark Corporation will post 3.42 EPS for the current fiscal year.

Trustmark Increases Dividend

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

Analysts Set New Price Targets

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

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.