Trustmark Corporation $TRMK Shares Sold by Earnest Partners LLC

Earnest Partners LLC cut its stake in shares of Trustmark Corporation (NASDAQ:TRMK) by 5.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,760,301 shares of the financial services provider’s stock after selling 147,911 shares during the quarter. Earnest Partners LLC owned approximately 4.60% of Trustmark worth $109,308,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Richardson Financial Services Inc. lifted its holdings in shares of 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 during the last quarter. Bessemer Group Inc. grew its stake in Trustmark by 37.4% during the 3rd quarter. Bessemer Group Inc. now owns 1,073 shares of the financial services provider’s stock worth $42,000 after buying an additional 292 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Trustmark by 452.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock worth $46,000 after buying an additional 1,022 shares during the period. LSV Asset Management bought a new stake in Trustmark in the third quarter valued at $83,000. Finally, Smith Shellnut Wilson LLC ADV bought a new stake in Trustmark in the third quarter valued at $205,000. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Trustmark Trading Down 0.8%

NASDAQ:TRMK opened at $40.85 on Friday. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 11.01 and a beta of 0.68. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.89. Trustmark Corporation has a 1 year low of $29.77 and a 1 year high of $45.43. The business has a fifty day moving average of $42.42 and a 200-day moving average of $40.39.

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

Trustmark Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Brean Capital started coverage on shares of Trustmark in a report on Thursday. They set a “buy” rating for the company. Wall Street Zen upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Saturday. DA Davidson boosted their target price on shares of Trustmark from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. Hovde Group upped 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. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Trustmark in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” 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.