Invesco Ltd. Has $19.44 Million Holdings in Trustmark Corporation $TRMK

Key Points

• Invesco Ltd. reduced its stake in Trustmark Corporation by 5.9% during the first quarter, owning approximately 0.93% of the company valued at $19.44 million after selling 35,091 shares.
• Trustmark Corporation reported a quarterly EPS of $0.92, beating the consensus estimate of $0.86, with a revenue of $203.44 million.
• The company recently declared a quarterly dividend of $0.24 per share, representing an annualized yield of 2.5% with a payout ratio of 26.97%.

Invesco Ltd. decreased its position in Trustmark Corporation (NASDAQ:TRMK - Free Report) by 5.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 563,770 shares of the financial services provider's stock after selling 35,091 shares during the quarter. Invesco Ltd. owned approximately 0.93% of Trustmark worth $19,444,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Lazard Asset Management LLC acquired a new position in Trustmark in the 4th quarter valued at $47,000. IFP Advisors Inc bought a new stake in Trustmark during the first quarter valued at about $51,000. GAMMA Investing LLC grew its position in shares of Trustmark by 41.0% in the first quarter. GAMMA Investing LLC now owns 1,809 shares of the financial services provider's stock valued at $62,000 after purchasing an additional 526 shares during the last quarter. Sterling Capital Management LLC grew its position in shares of Trustmark by 817.7% in the fourth quarter. Sterling Capital Management LLC now owns 1,918 shares of the financial services provider's stock valued at $68,000 after purchasing an additional 1,709 shares during the last quarter. Finally, Mascagni Wealth Management Inc. bought a new position in shares of Trustmark in the fourth quarter worth about $82,000. 67.64% of the stock is owned by institutional investors.

Insider Transactions at Trustmark

In other Trustmark news, Director Marcelo L. Eduardo sold 700 shares of the company'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 sale, the director directly owned 8,577 shares in the company, valued at $330,128.73. This represents a 7.55% 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 Gerard R. Host sold 20,970 shares of the 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 transaction, the director owned 158,360 shares of the company's stock, valued at $6,095,276.40. This represents a 11.69% 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 company insiders.

Trustmark Stock Performance

Shares of TRMK stock traded up $1.97 during mid-day trading on Friday, reaching $40.35. The stock had a trading volume of 372,263 shares, compared to its average volume of 256,709. Trustmark Corporation has a one year low of $29.77 and a one year high of $40.73. The firm has a market cap of $2.44 billion, a PE ratio of 11.33 and a beta of 0.70. The firm's 50 day simple moving average is $37.43 and its 200 day simple moving average is $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.

Trustmark (NASDAQ:TRMK - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.06. The business had revenue of $203.44 million for 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 previous year, the business posted $0.66 earnings per share. On average, analysts forecast that Trustmark Corporation will post 3.42 EPS for the current year.

Trustmark Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wall Street Zen downgraded Trustmark from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. 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, DA Davidson raised their price objective 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. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $41.00.

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.