Trustmark Corporation $TRMK Position Reduced by Earnest Partners LLC

Earnest Partners LLC trimmed its position in Trustmark Corporation (NASDAQ:TRMK) by 5.1% in the third quarter, HoldingsChannel.com reports. The firm owned 2,760,301 shares of the financial services provider’s stock after selling 147,911 shares during the quarter. Earnest Partners LLC’s holdings in Trustmark were worth $109,308,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position 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 purchasing an additional 316,851 shares during the period. Bridgeway Capital Management LLC lifted its holdings in shares of Trustmark by 1,927.6% in the third quarter. Bridgeway Capital Management LLC now owns 152,067 shares of the financial services provider’s stock valued at $6,022,000 after buying an additional 144,567 shares during the period. American Century Companies Inc. lifted its holdings in shares of Trustmark by 30.5% in the third 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 during the period. Bank of America Corp DE boosted its stake in Trustmark by 80.4% during the third quarter. Bank of America Corp DE now owns 267,147 shares of the financial services provider’s stock valued at $10,579,000 after buying an additional 119,044 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Trustmark by 75.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 272,067 shares of the financial services provider’s stock valued at $9,920,000 after buying an additional 117,389 shares in the last quarter. 67.64% of the stock is owned by institutional investors.

Trustmark Stock Performance

Shares of NASDAQ TRMK opened at $40.85 on Friday. The stock’s fifty day simple moving average is $42.42 and its 200 day simple moving average is $40.39. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 11.01 and a beta of 0.68. 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 Corporation has a 52-week low of $29.77 and a 52-week high of $45.43.

Trustmark (NASDAQ:TRMK) last announced its earnings results on Tuesday, January 27th. The financial services provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.91 by $0.06. The business had revenue of $209.44 million during the quarter, compared to the consensus estimate of $207.05 million. Trustmark had a return on equity of 10.77% and a net margin of 19.95%.During the same period in the prior year, the business posted $0.92 earnings per share. As a group, sell-side analysts forecast that Trustmark Corporation will post 3.42 earnings per share for the current fiscal year.

Trustmark Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 15th. Shareholders of record on Sunday, March 1st will be issued a $0.25 dividend. The ex-dividend date is Friday, February 27th. This is a positive change from Trustmark’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 2.4%. Trustmark’s dividend payout ratio is 26.95%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Hovde Group boosted their price target 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. DA Davidson raised their price objective on shares of Trustmark from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. Brean Capital initiated coverage on shares of Trustmark in a research note on Thursday. They issued a “buy” rating on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, January 21st. Finally, Wall Street Zen raised shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Saturday. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $43.83.

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.