Bank of New York Mellon Corp Cuts Stock Position in Trustmark Co. (NASDAQ:TRMK)

Bank of New York Mellon Corp cut its holdings in Trustmark Co. (NASDAQ:TRMK - Free Report) by 13.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 543,967 shares of the financial services provider's stock after selling 82,957 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.89% of Trustmark worth $19,240,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TRMK. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Trustmark in the 3rd quarter worth about $248,000. Principal Financial Group Inc. grew its position in shares of Trustmark by 6.8% in the 3rd quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider's stock worth $19,059,000 after buying an additional 37,989 shares during the period. Aptus Capital Advisors LLC purchased a new stake in shares of Trustmark in the 3rd quarter worth about $537,000. Cornercap Investment Counsel Inc. purchased a new stake in shares of Trustmark in the 3rd quarter worth about $248,000. Finally, GoalVest Advisory LLC purchased a new stake in Trustmark during the 3rd quarter valued at about $63,000. 67.64% of the stock is owned by hedge funds and other institutional investors.

Trustmark Stock Performance

TRMK traded down $0.46 during midday trading on Thursday, hitting $33.12. 305,173 shares of the company traded hands, compared to its average volume of 261,761. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $2.01 billion, a PE ratio of 9.10 and a beta of 0.71. The company's 50-day moving average is $36.01 and its 200 day moving average is $35.42. Trustmark Co. has a 52 week low of $25.24 and a 52 week high of $40.73.

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Trustmark (NASDAQ:TRMK - Get Free Report) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate 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 expect that Trustmark Co. will post 3.42 EPS for the current year.

Trustmark Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be issued a dividend of $0.24 per share. This is a positive change from Trustmark's previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Friday, February 28th. Trustmark's dividend payout ratio (DPR) is 26.37%.

Wall Street Analyst Weigh In

Several brokerages recently commented on TRMK. DA Davidson increased their price objective on shares of Trustmark from $40.00 to $41.00 and gave the company a "neutral" rating in a research report on Thursday, January 30th. Janney Montgomery Scott began coverage on shares of Trustmark in a research report on Friday, January 24th. They set a "buy" rating and a $42.00 price objective on the stock. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Trustmark from $45.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Trustmark presently has a consensus rating of "Hold" and a consensus price target of $38.67.

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.