Trustmark Corporation $TRMK Stake Cut by Dimensional Fund Advisors LP

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 lessened its holdings in shares of Trustmark Corporation (NASDAQ:TRMK - Free Report) by 2.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TRMK. Bank of Montreal Can acquired a new stake in Trustmark during the 4th quarter worth approximately $235,000. Renaissance Technologies LLC acquired a new stake in Trustmark during the 4th quarter worth approximately $1,887,000. Raymond James Financial Inc. acquired a new stake in Trustmark during the 4th quarter worth approximately $1,145,000. Sterling Capital Management LLC increased its position in Trustmark by 817.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,918 shares of the financial services provider's stock worth $68,000 after purchasing an additional 1,709 shares in the last quarter. Finally, Barclays PLC increased its position in Trustmark by 0.9% during the 4th quarter. Barclays PLC now owns 126,911 shares of the financial services provider's stock worth $4,489,000 after purchasing an additional 1,168 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company's stock.

Insider Activity at Trustmark

In other news, Director Marcelo L. Eduardo sold 700 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $38.49, for a total transaction of $26,943.00. Following the completion of the transaction, the director directly owned 8,577 shares in the company, valued at approximately $330,128.73. This represents a 7.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gerard R. Host sold 20,970 shares of the 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 $807,135.30. Following the transaction, the director owned 158,360 shares of the company's stock, valued at approximately $6,095,276.40. This trade represents a 11.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TRMK shares. DA Davidson upped their price target on Trustmark from $39.00 to $43.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Hovde Group upped their price target on Trustmark from $37.00 to $41.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. Finally, Wall Street Zen cut Trustmark from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $41.00.

Trustmark Stock Up 1.1%

Shares of Trustmark stock traded up $0.46 on Tuesday, hitting $40.60. 194,345 shares of the company's stock traded hands, compared to its average volume of 263,474. The stock has a market cap of $2.45 billion, a P/E ratio of 11.40 and a beta of 0.70. 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's 50-day moving average is $37.70 and its 200 day moving average is $35.67. Trustmark Corporation has a 52-week low of $29.77 and a 52-week high of $40.73.

Trustmark (NASDAQ:TRMK - Get Free Report) last released its 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 company had revenue of $203.44 million during the quarter, compared to analysts' expectations of $200.35 million. Trustmark had a return on equity of 10.81% and a net margin of 19.21%.During the same period in the prior year, the business posted $0.66 EPS. Equities analysts anticipate that Trustmark Corporation will post 3.42 earnings per share for the current year.

Trustmark Dividend Announcement

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

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.