Dimensional Fund Advisors LP Decreases Stake in Trustmark Corporation $TRMK

Key Points

• Dimensional Fund Advisors LP reduced its holdings in Trustmark Corporation by 2.4%, now owning approximately 6.61% of the company with a value of $137.96 million.
• The company's stock ratings reflect caution, with Wall Street Zen downgrading Trustmark from a "buy" to a "hold" and a consensus price target of $41.00.
• Trustmark recently declared a quarterly dividend of $0.24 per share, translating to an annualized dividend yield of 2.5%.

Dimensional Fund Advisors LP lowered its position in shares of Trustmark Corporation (NASDAQ:TRMK - Free Report) by 2.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,000,032 shares of the financial services provider's stock after selling 97,051 shares during the quarter. Dimensional Fund Advisors LP owned 6.61% of Trustmark worth $137,959,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in Trustmark during the 1st quarter worth approximately $508,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Trustmark during the 4th quarter worth approximately $212,000. Raymond James Financial Inc. acquired a new stake in Trustmark during the 4th quarter worth approximately $1,145,000. Deutsche Bank AG raised its holdings in Trustmark by 54.5% during the 4th quarter. Deutsche Bank AG now owns 52,756 shares of the financial services provider's stock worth $1,866,000 after buying an additional 18,603 shares during the period. Finally, Public Employees Retirement System of Ohio raised its holdings in Trustmark by 165.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 3,289 shares of the financial services provider's stock worth $116,000 after buying an additional 2,051 shares during the period. Institutional investors and hedge funds own 67.64% of the company's stock.

Trustmark Stock Performance

Shares of TRMK traded down $0.1750 during trading hours on Monday, hitting $40.1750. The company had a trading volume of 135,268 shares, compared to its average volume of 316,036. The business has a fifty day moving average of $37.43 and a 200-day moving average of $35.62. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 11.28 and a beta of 0.70. Trustmark Corporation has a 12 month low of $29.77 and a 12 month high of $40.73.

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

Trustmark Dividend Announcement

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

Insider Activity

In related news, Director Gerard R. Host sold 20,970 shares of the company's stock in a transaction that occurred 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 sale, the director directly owned 158,360 shares in the company, valued at $6,095,276.40. This represents a 11.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Marcelo L. Eduardo sold 700 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $38.49, for a total value of $26,943.00. Following the completion of the sale, the director owned 8,577 shares in the company, valued at $330,128.73. The trade was a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. DA Davidson raised their price target on shares of Trustmark from $39.00 to $43.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Wall Street Zen cut shares of Trustmark from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Finally, Hovde Group raised their price target on shares of Trustmark from $37.00 to $41.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Trustmark has an average rating of "Hold" and a consensus target price of $41.00.

Trustmark 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.