Vanguard Group Inc. Lowers Stake in Trustmark Corporation $TRMK

Vanguard Group Inc. decreased its holdings in shares of Trustmark Corporation (NASDAQ:TRMK) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,446,980 shares of the financial services provider’s stock after selling 89,982 shares during the quarter. Vanguard Group Inc. owned about 10.68% of Trustmark worth $255,300,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Richardson Financial Services Inc. lifted its holdings in shares of Trustmark by 86.7% in the 3rd quarter. Richardson Financial Services Inc. now owns 743 shares of the financial services provider’s stock valued at $29,000 after buying an additional 345 shares during the period. Bessemer Group Inc. boosted its stake in shares of 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. EverSource Wealth Advisors LLC increased its position in shares of Trustmark by 452.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 1,022 shares during the period. LSV Asset Management purchased a new stake in shares of Trustmark during the third quarter worth approximately $83,000. Finally, Smith Shellnut Wilson LLC ADV acquired a new stake in shares of Trustmark during the third quarter worth about $205,000. 67.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Trustmark Price Performance

TRMK opened at $42.59 on Friday. Trustmark Corporation has a 52 week low of $29.77 and a 52 week high of $45.43. The company has a fifty day moving average price of $41.95 and a two-hundred day moving average price of $40.18. 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 firm has a market capitalization of $2.51 billion, a PE ratio of 11.48 and a beta of 0.69.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.06. The business had revenue of $209.44 million during the quarter, compared to analysts’ expectations of $207.05 million. Trustmark had a net margin of 19.95% and a return on equity of 10.77%. During the same quarter in the prior year, the company earned $0.92 EPS. As a group, analysts anticipate that Trustmark Corporation 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 Sunday, March 15th. Shareholders of record on Sunday, March 1st will be paid a $0.25 dividend. This is an increase from Trustmark’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, February 27th. Trustmark’s dividend payout ratio is 25.88%.

About Trustmark

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.