Newport Trust Company LLC Sells 27,842 Shares of Trustmark Co. (NASDAQ:TRMK)

Newport Trust Company LLC lowered its position in shares of Trustmark Co. (NASDAQ:TRMK - Free Report) by 4.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 546,409 shares of the financial services provider's stock after selling 27,842 shares during the period. Newport Trust Company LLC owned about 0.89% of Trustmark worth $16,414,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. MQS Management LLC purchased a new stake in Trustmark in the 2nd quarter worth approximately $277,000. Renaissance Technologies LLC bought a new position in shares of Trustmark during the second quarter valued at approximately $1,372,000. Dimensional Fund Advisors LP lifted its stake in Trustmark by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,050,787 shares of the financial services provider's stock worth $121,683,000 after acquiring an additional 64,334 shares during the period. Hanson & Doremus Investment Management bought a new stake in Trustmark in the second quarter valued at $4,199,000. Finally, Envestnet Asset Management Inc. increased its position in Trustmark by 7.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 199,367 shares of the financial services provider's stock valued at $5,989,000 after purchasing an additional 14,630 shares during the period. Institutional investors own 67.64% of the company's stock.

Trustmark Stock Down 2.6 %

Shares of TRMK stock traded down $0.88 during mid-day trading on Friday, reaching $32.72. 1,050,254 shares of the company's stock traded hands, compared to its average volume of 280,960. The company's 50-day moving average price is $32.63 and its 200-day moving average price is $29.91. The company has a market cap of $2.00 billion, a P/E ratio of 12.73 and a beta of 0.74. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.10. Trustmark Co. has a 12 month low of $18.96 and a 12 month high of $35.72.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.63 by $0.03. Trustmark had a net margin of 16.24% and a return on equity of 9.32%. The business had revenue of $283.96 million for the quarter, compared to analyst estimates of $229.83 million. During the same quarter in the previous year, the firm posted $0.74 earnings per share. On average, equities analysts expect that Trustmark Co. will post 2.93 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were paid a $0.23 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.81%. Trustmark's payout ratio is currently 35.80%.

Analyst Ratings Changes

TRMK has been the subject of several research analyst reports. Truist Financial dropped their target price on shares of Trustmark from $37.00 to $35.00 and set a "hold" rating for the company in a research report on Friday. DA Davidson raised their price objective on shares of Trustmark from $34.00 to $38.00 and gave the stock a "neutral" rating in a report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $34.50.

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.