Vanguard Group Inc. Has $255.30 Million Holdings in Trustmark Corporation $TRMK

Vanguard Group Inc. cut its stake in Trustmark Corporation (NASDAQ:TRMK) by 1.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,446,980 shares of the financial services provider’s stock after selling 89,982 shares during the period. Vanguard Group Inc. owned approximately 0.11% of Trustmark worth $255,300,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of TRMK. Bessemer Group Inc. boosted its stake in shares of Trustmark by 37.4% in the 3rd 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. California State Teachers Retirement System lifted its stake in Trustmark by 0.6% in the 2nd quarter. California State Teachers Retirement System now owns 53,630 shares of the financial services provider’s stock valued at $1,955,000 after purchasing an additional 313 shares during the last quarter. Richardson Financial Services Inc. lifted its stake in Trustmark by 86.7% in the 3rd quarter. Richardson Financial Services Inc. now owns 743 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 345 shares during the last quarter. Lazard Asset Management LLC boosted its position in Trustmark by 1.0% in the second quarter. Lazard Asset Management LLC now owns 35,132 shares of the financial services provider’s stock valued at $1,280,000 after buying an additional 353 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its stake in shares of Trustmark by 6.1% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 13,738 shares of the financial services provider’s stock worth $501,000 after buying an additional 788 shares during the last quarter. 67.64% of the stock is currently owned by institutional investors.

Trustmark Trading Down 4.3%

Shares of TRMK stock opened at $42.59 on Friday. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 11.48 and a beta of 0.69. The stock has a 50-day moving average of $41.95 and a 200-day moving average of $40.18. 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 Corporation has a 1-year low of $29.77 and a 1-year high of $45.43.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. Trustmark had a return on equity of 10.77% and a net margin of 19.95%.The company had revenue of $209.44 million for the quarter, compared to analyst estimates of $207.05 million. During the same period in the previous year, the firm earned $0.92 earnings per share. On average, equities research analysts forecast that Trustmark Corporation will post 3.42 earnings per share for the current year.

Trustmark Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, March 15th. Stockholders of record on Sunday, March 1st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.3%. This is an increase from Trustmark’s previous quarterly dividend of $0.24. Trustmark’s payout ratio is currently 25.88%.

Wall Street Analyst Weigh In

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

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.