Synovus Financial Corp Sells 15,379 Shares of Trustmark Co. (NASDAQ:TRMK)

Synovus Financial Corp lessened its stake in Trustmark Co. (NASDAQ:TRMK - Free Report) by 50.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,379 shares of the financial services provider's stock after selling 15,379 shares during the period. Synovus Financial Corp's holdings in Trustmark were worth $544,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TRMK. AlphaQuest LLC raised its position in shares of Trustmark by 4.7% during the fourth quarter. AlphaQuest LLC now owns 10,157 shares of the financial services provider's stock worth $359,000 after acquiring an additional 456 shares during the last quarter. HB Wealth Management LLC raised its holdings in Trustmark by 0.7% during the 4th quarter. HB Wealth Management LLC now owns 74,634 shares of the financial services provider's stock worth $2,640,000 after purchasing an additional 528 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Trustmark by 1.0% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 54,274 shares of the financial services provider's stock worth $1,920,000 after purchasing an additional 528 shares during the last quarter. Element Wealth LLC lifted its position in Trustmark by 6.3% during the 4th quarter. Element Wealth LLC now owns 9,018 shares of the financial services provider's stock valued at $319,000 after purchasing an additional 533 shares during the period. Finally, Swiss National Bank boosted its stake in shares of Trustmark by 0.7% in the 4th quarter. Swiss National Bank now owns 114,400 shares of the financial services provider's stock valued at $4,046,000 after purchasing an additional 800 shares during the last quarter. Institutional investors and hedge funds own 67.64% of the company's stock.

Trustmark Trading Up 0.9 %

Shares of NASDAQ TRMK traded up $0.28 during midday trading on Friday, reaching $32.75. 456,968 shares of the 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 12 month low of $26.65 and a 12 month high of $40.73. The business has a 50-day simple moving average of $34.40 and a two-hundred day simple moving average of $35.60. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 9.00 and a beta of 0.67.

Trustmark (NASDAQ:TRMK - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.09. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. As a group, equities research analysts expect that Trustmark Co. will post 3.42 EPS for the current year.

Trustmark Increases Dividend

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

Analyst Ratings Changes

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

About Trustmark

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.