American Century Companies Inc. reduced its stake in Trustmark Co. (NASDAQ:TRMK - Free Report) by 23.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 740,365 shares of the financial services provider's stock after selling 231,341 shares during the period. American Century Companies Inc. owned approximately 1.21% of Trustmark worth $26,187,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in Trustmark by 32.6% in the 3rd quarter. Wellington Management Group LLP now owns 1,356,853 shares of the financial services provider's stock worth $43,175,000 after acquiring an additional 333,390 shares during the period. Edgestream Partners L.P. purchased a new position in shares of Trustmark in the fourth quarter valued at $2,652,000. Barclays PLC boosted its stake in shares of Trustmark by 124.7% in the third quarter. Barclays PLC now owns 125,743 shares of the financial services provider's stock valued at $4,001,000 after purchasing an additional 69,779 shares during the period. Thrivent Financial for Lutherans increased its stake in Trustmark by 134.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 112,831 shares of the financial services provider's stock worth $3,991,000 after buying an additional 64,766 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Trustmark by 6.8% in the third quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider's stock worth $19,059,000 after acquiring an additional 37,989 shares in the last quarter. 67.64% of the stock is owned by hedge funds and other institutional investors.
Trustmark Stock Performance
Shares of NASDAQ:TRMK traded down $2.74 on Thursday, hitting $31.85. The company's stock had a trading volume of 528,983 shares, compared to its average volume of 289,901. Trustmark Co. has a 12 month low of $25.41 and a 12 month high of $40.73. The stock's 50-day moving average is $35.87 and its two-hundred day moving average is $35.60. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 8.75 and a beta of 0.71.
Trustmark (NASDAQ:TRMK - Get Free Report) last released its earnings results on Tuesday, January 28th. The financial services provider reported $0.92 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, equities research analysts forecast that Trustmark Co. will post 3.42 EPS for the current year.
Trustmark Increases Dividend
The company 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 is a boost from Trustmark's previous quarterly dividend of $0.23. The ex-dividend date was Friday, February 28th. This represents a $0.96 annualized dividend and a yield of 3.01%. Trustmark's payout ratio is presently 26.37%.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on TRMK shares. Keefe, Bruyette & Woods raised their price objective on shares of Trustmark from $45.00 to $47.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. DA Davidson boosted their price objective on Trustmark from $40.00 to $41.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. Finally, Janney Montgomery Scott initiated coverage on Trustmark in a research note 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $40.60.
Get Our Latest Report on TRMK
About Trustmark
(
Free Report)
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.
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