American Century Companies Inc. Has $19.70 Million Position in Trustmark Corporation $TRMK

Key Points

• American Century Companies Inc. reduced its stake in Trustmark Corporation by 22.9% during the 1st quarter, now holding 571,146 shares worth approximately $19.7 million.
• Several institutional investors have adjusted their positions, with Wellington Management Group increasing its stake by 82.2% in the 4th quarter, now owning over 2.4 million shares.
• Trustmark announced a quarterly dividend of $0.24 per share, with an annualized yield of 2.4%, to be paid on September 15th to shareholders on record as of September 1st.

American Century Companies Inc. reduced its holdings in Trustmark Corporation (NASDAQ:TRMK - Free Report) by 22.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 571,146 shares of the financial services provider's stock after selling 169,219 shares during the period. American Century Companies Inc. owned approximately 0.94% of Trustmark worth $19,699,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Trustmark during the first quarter valued at approximately $508,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Trustmark during the fourth quarter valued at approximately $212,000. Raymond James Financial Inc. bought a new stake in shares of Trustmark during the fourth quarter valued at approximately $1,145,000. Deutsche Bank AG increased its position in shares of Trustmark by 54.5% during the fourth quarter. Deutsche Bank AG now owns 52,756 shares of the financial services provider's stock valued at $1,866,000 after purchasing an additional 18,603 shares during the period. Finally, Public Employees Retirement System of Ohio increased its position in shares of Trustmark by 165.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 3,289 shares of the financial services provider's stock valued at $116,000 after purchasing an additional 2,051 shares during the period. 67.64% of the stock is currently owned by institutional investors.

Trustmark Price Performance

TRMK stock traded down $0.17 during trading on Thursday, hitting $40.46. The company had a trading volume of 65,972 shares, compared to its average volume of 314,067. The company has a fifty day moving average price of $37.83 and a two-hundred day moving average price of $35.71. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The company has a market cap of $2.44 billion, a P/E ratio of 11.37 and a beta of 0.70. Trustmark Corporation has a fifty-two week low of $29.77 and a fifty-two week high of $40.81.

Trustmark (NASDAQ:TRMK - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.86 by $0.06. The business had revenue of $203.44 million for the quarter, compared to analyst estimates of $200.35 million. Trustmark had a return on equity of 10.81% and a net margin of 19.21%.During the same quarter in the previous year, the firm earned $0.66 EPS. Equities research analysts expect that Trustmark Corporation will post 3.42 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.96 dividend on an annualized basis and a yield of 2.4%. Trustmark's payout ratio is currently 26.97%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wall Street Zen cut Trustmark from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Hovde Group boosted their price objective on Trustmark from $37.00 to $41.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. Finally, DA Davidson boosted their price objective on Trustmark from $39.00 to $43.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $41.00.

Insiders Place Their Bets

In other Trustmark news, Director Marcelo L. Eduardo sold 700 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $38.49, for a total value of $26,943.00. Following the transaction, the director owned 8,577 shares of the company's stock, valued at approximately $330,128.73. The trade was a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gerard R. Host sold 20,970 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $38.49, for a total value of $807,135.30. Following the completion of the transaction, the director directly owned 158,360 shares in the company, valued at approximately $6,095,276.40. This represents a 11.69% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 23,226 shares of company stock worth $897,299. Insiders own 1.50% of the company's stock.

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.