Alliancebernstein L.P. Sells 8,260 Shares of Trustmark Co. (NASDAQ:TRMK)

Alliancebernstein L.P. lowered its position in shares of Trustmark Co. (NASDAQ:TRMK - Free Report) by 11.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,011 shares of the financial services provider's stock after selling 8,260 shares during the quarter. Alliancebernstein L.P. owned 0.11% of Trustmark worth $2,335,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TRMK. Jones Financial Companies Lllp bought a new stake in shares of Trustmark in the 4th quarter valued at $37,000. KBC Group NV grew its stake in Trustmark by 43.0% in the fourth quarter. KBC Group NV now owns 3,163 shares of the financial services provider's stock valued at $112,000 after acquiring an additional 951 shares during the period. Cibc World Markets Corp acquired a new position in Trustmark in the fourth quarter valued at about $201,000. Blue Trust Inc. increased its holdings in shares of Trustmark by 19.0% in the fourth quarter. Blue Trust Inc. now owns 5,896 shares of the financial services provider's stock worth $209,000 after acquiring an additional 943 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Trustmark during the third quarter worth about $212,000. Institutional investors own 67.64% of the company's stock.

Trustmark Stock Up 0.9 %

Shares of TRMK traded up $0.28 during mid-day trading on Friday, hitting $32.75. 456,968 shares of the company's stock were exchanged, compared to its average volume of 299,790. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. Trustmark Co. has a 52 week low of $26.65 and a 52 week high of $40.73. The company has a market cap of $1.99 billion, a PE ratio of 9.00 and a beta of 0.67. The company has a 50-day simple moving average of $34.40 and a 200 day simple moving average of $35.57.

Trustmark (NASDAQ:TRMK - Get Free Report) last released its earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.09. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. On average, research analysts forecast that Trustmark Co. will post 3.42 earnings per share for the current fiscal year.

Trustmark Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.93%. The ex-dividend date was Friday, February 28th. This is a positive change from Trustmark's previous quarterly dividend of $0.23. Trustmark's dividend payout ratio is presently 26.37%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods increased their target price on Trustmark from $45.00 to $47.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. DA Davidson increased their price objective on shares of Trustmark from $40.00 to $41.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. Finally, Janney Montgomery Scott initiated coverage on shares of Trustmark in a report on Friday, January 24th. They set a "buy" rating and a $42.00 price objective on the stock. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $40.60.

Trustmark Profile

Trustmark Corporation operates as the bank holding company for Trustmark National Bank that provides banking and other financial solutions to individuals and corporate institutions in the United States. The company operates through three segments: General Banking, Wealth Management, and Insurance. It offers checking, savings, and money market accounts; certificates of deposits and individual retirement accounts; financing for commercial and industrial projects, income-producing commercial real estate, owner-occupied real estate, and construction and land development; and installment and real estate loans, and lines of credit, as well as treasury management services.