Bank of America Corp DE Sells 45,345 Shares of Trustmark Co. (NASDAQ:TRMK)

Bank of America Corp DE lowered its position in shares of Trustmark Co. (NASDAQ:TRMK - Free Report) by 45.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,420 shares of the financial services provider's stock after selling 45,345 shares during the quarter. Bank of America Corp DE owned 0.09% of Trustmark worth $1,925,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TRMK. Jones Financial Companies Lllp acquired a new stake in shares of Trustmark in the 4th quarter valued at approximately $37,000. Sterling Capital Management LLC boosted its holdings in shares of Trustmark by 817.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,918 shares of the financial services provider's stock valued at $68,000 after buying an additional 1,709 shares during the last quarter. KBC Group NV boosted its holdings in shares of Trustmark by 43.0% in the 4th quarter. KBC Group NV now owns 3,163 shares of the financial services provider's stock valued at $112,000 after buying an additional 951 shares during the last quarter. Cibc World Markets Corp acquired a new stake in shares of Trustmark in the 4th quarter valued at approximately $201,000. Finally, Blue Trust Inc. boosted its holdings in shares of Trustmark by 19.0% in the 4th quarter. Blue Trust Inc. now owns 5,896 shares of the financial services provider's stock valued at $209,000 after buying an additional 943 shares during the last quarter. Institutional investors and hedge funds own 67.64% of the company's stock.

Trustmark Stock Performance

TRMK stock traded up $0.56 during trading hours on Friday, hitting $34.81. 268,058 shares of the stock were exchanged, compared to its average volume of 306,097. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $2.11 billion, a P/E ratio of 9.56 and a beta of 0.66. The company has a 50-day simple moving average of $33.88 and a two-hundred day simple moving average of $35.44. Trustmark Co. has a 12 month low of $27.42 and a 12 month high of $40.73.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.06. The firm had revenue of $231.83 million for the quarter, compared to analysts' expectations of $195.38 million. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. On average, analysts forecast that Trustmark Co. will post 3.42 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.76%. The ex-dividend date is Friday, May 30th. Trustmark's payout ratio is 25.00%.

Analyst Ratings Changes

Several research firms have recently commented on TRMK. Wall Street Zen downgraded Trustmark from a "buy" rating to a "hold" rating in a report on Saturday. Hovde Group increased their price target on Trustmark from $36.00 to $37.00 and gave the company a "market perform" rating in a research note on Monday, April 28th. Finally, Keefe, Bruyette & Woods dropped their price target on Trustmark from $45.00 to $43.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Trustmark currently has an average rating of "Hold" and an average price target of $39.80.

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.