Trustmark Corporation (NASDAQ:TRMK) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in shares of Trustmark Corporation (NASDAQ:TRMK - Free Report) by 4.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 521,585 shares of the financial services provider's stock after selling 22,382 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.86% of Trustmark worth $17,989,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TRMK. Barlow Wealth Partners Inc. bought a new position in shares of Trustmark during the 1st quarter valued at approximately $896,000. Cambridge Investment Research Advisors Inc. lifted its position in Trustmark by 4.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 27,315 shares of the financial services provider's stock worth $942,000 after buying an additional 1,080 shares during the last quarter. Advisor Resource Council bought a new stake in Trustmark in the first quarter worth $2,225,000. Ballew Advisors Inc lifted its position in Trustmark by 12.5% in the first quarter. Ballew Advisors Inc now owns 11,081 shares of the financial services provider's stock worth $382,000 after buying an additional 1,231 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Trustmark in the first quarter worth $508,000. Hedge funds and other institutional investors own 67.64% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TRMK. Keefe, Bruyette & Woods reduced their target price on Trustmark from $45.00 to $43.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Wall Street Zen lowered Trustmark from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Finally, Hovde Group lifted their target price on Trustmark from $36.00 to $37.00 and gave the company a "market perform" rating in a research note on Monday, April 28th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $39.80.

Trustmark Stock Up 0.7%

NASDAQ TRMK traded up $0.25 during trading hours on Friday, hitting $38.55. 378,382 shares of the company were exchanged, compared to its average volume of 306,388. The company has a 50 day moving average of $35.94 and a two-hundred day moving average of $35.22. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. Trustmark Corporation has a 52-week low of $29.77 and a 52-week high of $40.73. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 10.04 and a beta of 0.66.

Trustmark (NASDAQ:TRMK - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.06. Trustmark had a return on equity of 10.29% and a net margin of 20.73%. The firm had revenue of $231.83 million for the quarter, compared to the consensus estimate of $195.38 million. Equities research analysts anticipate that Trustmark Corporation will post 3.42 earnings per share for the current year.

Trustmark Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were issued a $0.24 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.96 annualized dividend and a dividend yield of 2.49%. Trustmark's dividend payout ratio is currently 25.00%.

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.