Victory Capital Management Inc. Lowers Stock Position in Trustmark Co. (NASDAQ:TRMK)

Victory Capital Management Inc. lowered its stake in Trustmark Co. (NASDAQ:TRMK - Free Report) by 52.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,732 shares of the financial services provider's stock after selling 12,062 shares during the period. Victory Capital Management Inc.'s holdings in Trustmark were worth $380,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp purchased a new position in shares of Trustmark in the fourth quarter valued at about $37,000. KBC Group NV grew its stake in shares of Trustmark by 43.0% in the fourth quarter. KBC Group NV now owns 3,163 shares of the financial services provider's stock worth $112,000 after purchasing an additional 951 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Trustmark during the 3rd quarter valued at about $130,000. Point72 DIFC Ltd bought a new position in Trustmark during the 3rd quarter valued at approximately $170,000. Finally, Blue Trust Inc. lifted its holdings in Trustmark by 19.0% in the 4th quarter. Blue Trust Inc. now owns 5,896 shares of the financial services provider's stock worth $209,000 after buying an additional 943 shares during the period. Institutional investors own 67.64% of the company's stock.

Trustmark Stock Performance

Shares of Trustmark stock traded up $0.11 during trading on Wednesday, hitting $35.28. 196,792 shares of the company's stock traded hands, compared to its average volume of 261,592. Trustmark Co. has a 1 year low of $25.41 and a 1 year high of $40.73. The business has a 50-day simple moving average of $36.00 and a 200-day simple moving average of $35.52. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. The stock has a market capitalization of $2.14 billion, a P/E ratio of 9.69 and a beta of 0.71.

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Trustmark (NASDAQ:TRMK - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.92 EPS for the quarter, topping 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%. As a group, analysts forecast that Trustmark Co. will post 3.42 EPS for the current year.

Trustmark Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were issued a $0.24 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.96 annualized dividend and a dividend yield of 2.72%. This is a positive change from Trustmark's previous quarterly dividend of $0.23. Trustmark's payout ratio is presently 26.37%.

Wall Street Analyst Weigh In

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

Trustmark Company 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.