Intech Investment Management LLC Reduces Position in Trustmark Corporation $TRMK

Intech Investment Management LLC lessened its holdings in shares of Trustmark Corporation (NASDAQ:TRMK) by 39.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,923 shares of the financial services provider’s stock after selling 20,282 shares during the quarter. Intech Investment Management LLC owned approximately 0.05% of Trustmark worth $1,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP lifted its stake in shares of Trustmark by 8.9% during the 3rd quarter. Wellington Management Group LLP now owns 3,883,882 shares of the financial services provider’s stock valued at $153,802,000 after buying an additional 316,851 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Trustmark by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 1,491,837 shares of the financial services provider’s stock valued at $58,112,000 after buying an additional 9,198 shares in the last quarter. UBS Group AG lifted its stake in shares of Trustmark by 282.0% during the 4th quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock valued at $24,944,000 after buying an additional 472,751 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Trustmark by 30.5% during the 3rd quarter. American Century Companies Inc. now owns 564,180 shares of the financial services provider’s stock valued at $22,342,000 after buying an additional 132,023 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Trustmark by 17.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 470,756 shares of the financial services provider’s stock valued at $16,236,000 after buying an additional 69,110 shares in the last quarter. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Trustmark Stock Performance

Shares of NASDAQ TRMK opened at $44.15 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.89. The company has a market cap of $2.59 billion, a P/E ratio of 11.68 and a beta of 0.65. The firm’s fifty day moving average is $44.04 and its two-hundred day moving average is $42.20. Trustmark Corporation has a 52-week low of $33.39 and a 52-week high of $45.99.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. The company had revenue of $208.07 million for the quarter, compared to the consensus estimate of $204.98 million. Trustmark had a net margin of 20.12% and a return on equity of 10.74%. During the same period in the previous year, the firm posted $0.88 EPS. As a group, analysts anticipate that Trustmark Corporation will post 3.92 EPS for the current fiscal year.

Trustmark Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Monday, June 1st. Trustmark’s payout ratio is currently 26.46%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. DA Davidson restated a “neutral” rating and set a $44.00 target price on shares of Trustmark in a research note on Wednesday, April 29th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $45.00 target price on shares of Trustmark in a research note on Thursday, April 9th. Piper Sandler lifted their target price on shares of Trustmark from $44.00 to $45.50 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Brean Capital assumed coverage on shares of Trustmark in a research note on Thursday, March 12th. They set a “buy” rating on the stock. Finally, Wall Street Zen upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $44.75.

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.