Intech Investment Management LLC Sells 20,282 Shares of Trustmark Corporation $TRMK

Intech Investment Management LLC cut its holdings in Trustmark Corporation (NASDAQ:TRMK) by 39.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,923 shares of the financial services provider’s stock after selling 20,282 shares during the period. Intech Investment Management LLC’s holdings in Trustmark were worth $1,204,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TRMK. UBS Group AG increased its holdings in shares of 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 buying an additional 472,751 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Trustmark by 8.9% in the 3rd quarter. Wellington Management Group LLP now owns 3,883,882 shares of the financial services provider’s stock worth $153,802,000 after buying an additional 316,851 shares during the last quarter. Bridgeway Capital Management LLC increased its holdings in shares of Trustmark by 1,927.6% in the 3rd quarter. Bridgeway Capital Management LLC now owns 152,067 shares of the financial services provider’s stock worth $6,022,000 after buying an additional 144,567 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Trustmark by 30.5% in the 3rd quarter. American Century Companies Inc. now owns 564,180 shares of the financial services provider’s stock worth $22,342,000 after buying an additional 132,023 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Trustmark by 80.4% in the 3rd quarter. Bank of America Corp DE now owns 267,147 shares of the financial services provider’s stock worth $10,579,000 after buying an additional 119,044 shares during the last quarter. 67.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TRMK. Weiss Ratings upgraded shares of Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, June 1st. Wall Street Zen upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Brean Capital began coverage on shares of Trustmark in a report on Thursday, March 12th. They issued a “buy” rating on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $45.00 target price on shares of Trustmark in a report on Thursday, April 9th. Finally, DA Davidson reiterated a “neutral” rating and set a $44.00 price target on shares of Trustmark in a report on Wednesday, April 29th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $44.75.

Trustmark Stock Performance

Shares of NASDAQ:TRMK opened at $44.15 on Friday. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 11.68 and a beta of 0.65. Trustmark Corporation has a 12 month low of $33.39 and a 12 month high of $45.99. The firm’s 50-day moving average is $44.04 and its 200 day moving average is $42.20. The company has a current ratio of 0.89, a quick ratio of 0.87 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, beating the consensus estimate of $0.87 by $0.08. The company had revenue of $208.07 million for the quarter, compared to the consensus estimate of $204.98 million. Trustmark had a net margin of 20.12% and a return on equity of 10.74%. During the same period in the prior year, the firm posted $0.88 EPS. Research analysts predict that Trustmark Corporation will post 3.92 EPS for the current year.

Trustmark Dividend Announcement

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