Trustmark Corp (TRMK) Shares Sold by Pinebridge Investments L.P.
Pinebridge Investments L.P. trimmed its holdings in shares of Trustmark Corp (NASDAQ:TRMK) by 48.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,502 shares of the financial services provider’s stock after selling 17,684 shares during the quarter. Pinebridge Investments L.P.’s holdings in Trustmark were worth $590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in the stock. The Manufacturers Life Insurance Company grew its stake in Trustmark by 8.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 179,811 shares of the financial services provider’s stock worth $5,729,000 after buying an additional 13,460 shares during the last quarter. Wells Fargo & Company MN grew its stake in Trustmark by 2.4% during the 4th quarter. Wells Fargo & Company MN now owns 2,376,182 shares of the financial services provider’s stock worth $75,705,000 after buying an additional 55,057 shares during the last quarter. First Trust Advisors LP grew its stake in Trustmark by 14.6% during the 4th quarter. First Trust Advisors LP now owns 155,498 shares of the financial services provider’s stock worth $4,954,000 after buying an additional 19,771 shares during the last quarter. New Mexico Educational Retirement Board purchased a new position in Trustmark during the 4th quarter worth $535,000. Finally, Swiss National Bank lifted its position in Trustmark by 2.1% during the 4th quarter. Swiss National Bank now owns 114,200 shares of the financial services provider’s stock worth $3,638,000 after acquiring an additional 2,400 shares during the period. Hedge funds and other institutional investors own 62.82% of the company’s stock.
A number of analysts have commented on the company. Zacks Investment Research cut Trustmark from a “buy” rating to a “hold” rating in a research report on Wednesday. Hovde Group set a $33.00 price target on Trustmark and gave the stock a “hold” rating in a research report on Monday, February 5th. BidaskClub raised Trustmark from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. SunTrust Banks lowered their price target on Trustmark to $33.00 and set an “average” rating for the company in a research report on Tuesday, January 30th. Finally, Stephens reaffirmed a “hold” rating and set a $34.00 price target on shares of Trustmark in a research report on Thursday, January 25th. Eight equities research analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and a consensus target price of $34.50.
Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.48 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.48. Trustmark had a return on equity of 8.35% and a net margin of 16.15%. The company had revenue of $153.06 million during the quarter, compared to analysts’ expectations of $152.80 million. During the same quarter in the previous year, the firm posted $0.43 EPS. equities analysts forecast that Trustmark Corp will post 2.15 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be issued a $0.23 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $0.92 annualized dividend and a dividend yield of 2.88%. Trustmark’s dividend payout ratio (DPR) is presently 59.35%.
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Trustmark Corporation is a bank holding company. The Company’s principal subsidiary is Trustmark National Bank (TNB). Through TNB and its subsidiaries, the Company operates as a financial services company providing banking and other financial solutions. It operates through three segments: General Banking, Wealth Management and Insurance.
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