Charles Schwab Investment Management Inc. Has $33.85 Million Stake in Trustmark Corporation $TRMK

Charles Schwab Investment Management Inc. trimmed its position in shares of Trustmark Corporation (NASDAQ:TRMK) by 4.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 869,130 shares of the financial services provider’s stock after selling 43,717 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Trustmark were worth $33,853,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Federated Hermes Inc. lifted its holdings in shares of Trustmark by 7.3% during the 3rd quarter. Federated Hermes Inc. now owns 369,109 shares of the financial services provider’s stock valued at $14,617,000 after buying an additional 25,164 shares during the last quarter. Clark Capital Management Group Inc. lifted its holdings in Trustmark by 13.5% in the 3rd quarter. Clark Capital Management Group Inc. now owns 352,468 shares of the financial services provider’s stock worth $13,958,000 after purchasing an additional 42,032 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Trustmark by 9.8% in the 3rd quarter. Principal Financial Group Inc. now owns 328,925 shares of the financial services provider’s stock worth $13,025,000 after purchasing an additional 29,302 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in Trustmark by 29.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 266,557 shares of the financial services provider’s stock worth $10,556,000 after purchasing an additional 60,340 shares during the last quarter. Finally, UBS Group AG lifted its holdings in Trustmark by 282.0% in the 4th quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock worth $24,944,000 after purchasing an additional 472,751 shares during the last quarter. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TRMK shares. Wall Street Zen upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Hovde Group boosted their target price on Trustmark from $42.00 to $44.50 and gave the stock a “market perform” rating in a report on Thursday, January 29th. Brean Capital started coverage on Trustmark in a report on Thursday, March 12th. They issued a “buy” rating for the company. Weiss Ratings restated a “buy (b)” rating on shares of Trustmark in a report on Monday, May 4th. Finally, Piper Sandler boosted their target price on Trustmark from $44.00 to $45.50 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Trustmark presently has an average rating of “Hold” and an average target price of $44.75.

Trustmark Stock Down 1.5%

Shares of TRMK stock opened at $43.10 on Friday. Trustmark Corporation has a 12 month low of $33.39 and a 12 month high of $45.99. The firm has a market cap of $2.53 billion, a PE ratio of 11.40 and a beta of 0.66. The stock has a 50 day moving average of $43.26 and a 200-day moving average of $41.57. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. Trustmark had a return on equity of 10.74% and a net margin of 20.12%.The company had revenue of $208.07 million during the quarter, compared to analyst estimates of $204.98 million. During the same period in the previous year, the company earned $0.88 earnings per share. On average, equities analysts predict that Trustmark Corporation will post 3.92 EPS for the current year.

Trustmark Dividend Announcement

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

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.