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

Trustmark Bank Trust Department trimmed its position in Trustmark Corporation (NASDAQ:TRMK) by 4.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 285,856 shares of the financial services provider’s stock after selling 14,311 shares during the period. Trustmark Bank Trust Department owned 0.48% of Trustmark worth $11,320,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Richardson Financial Services Inc. increased its holdings in Trustmark by 86.7% in the 3rd 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 stake in shares of Trustmark by 37.4% during 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 in the last quarter. EverSource Wealth Advisors LLC grew its holdings 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 purchasing an additional 1,022 shares during the last quarter. LSV Asset Management acquired a new position in shares of Trustmark in the third quarter valued at approximately $83,000. Finally, Smith Shellnut Wilson LLC ADV acquired a new position in shares of Trustmark in the third quarter valued at approximately $205,000. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Stock Performance

Shares of TRMK stock opened at $42.02 on Friday. The stock has a market capitalization of $2.47 billion, a PE ratio of 11.33 and a beta of 0.68. The business’s 50 day simple moving average is $42.21 and its 200 day simple moving average is $40.31. 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 Corporation has a one year low of $29.77 and a one year high of $45.43.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results 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 analyst estimates of $207.05 million. Trustmark had a net margin of 19.95% and a return on equity of 10.77%. During the same quarter last year, the business earned $0.92 EPS. As a group, research analysts forecast that Trustmark Corporation will post 3.42 earnings per share for the current year.

Trustmark Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 15th. Investors 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. This represents a $1.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, February 27th. Trustmark’s payout ratio is 26.95%.

Analyst Ratings Changes

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

Trustmark 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.