Rhumbline Advisers Reduces Stock Position in Trustmark Co. (NASDAQ:TRMK)

Rhumbline Advisers trimmed its holdings in Trustmark Co. (NASDAQ:TRMK - Free Report) by 4.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 176,781 shares of the financial services provider's stock after selling 7,993 shares during the period. Rhumbline Advisers owned approximately 0.29% of Trustmark worth $6,097,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in TRMK. Jones Financial Companies Lllp purchased a new position in Trustmark in the fourth quarter worth approximately $37,000. Lazard Asset Management LLC acquired a new position in Trustmark during the fourth quarter worth $47,000. Sterling Capital Management LLC lifted its stake in Trustmark by 817.7% during the fourth 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. Mascagni Wealth Management Inc. acquired a new position in Trustmark during the fourth quarter worth $82,000. Finally, Public Employees Retirement System of Ohio lifted its stake in Trustmark by 165.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 3,289 shares of the financial services provider's stock worth $116,000 after purchasing an additional 2,051 shares in the last quarter. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TRMK. Hovde Group upped their price target on Trustmark from $36.00 to $37.00 and gave the stock a "market perform" rating in a research note on Monday, April 28th. Keefe, Bruyette & Woods decreased 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. Finally, Wall Street Zen cut Trustmark from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $39.80.

Trustmark Stock Down 1.8%

Shares of NASDAQ TRMK traded down $0.64 during mid-day trading on Friday, hitting $33.96. The company had a trading volume of 280,558 shares, compared to its average volume of 305,512. The company has a market capitalization of $2.05 billion, a PE ratio of 9.33 and a beta of 0.66. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. Trustmark Co. has a 1-year low of $27.90 and a 1-year high of $40.73. The business's 50-day simple moving average is $34.18 and its 200 day simple moving average is $35.27.

Trustmark (NASDAQ:TRMK - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.06. The business 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 predict that Trustmark Co. 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 Sunday, June 15th. Investors of record on Sunday, June 1st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.83%. The ex-dividend date is Friday, May 30th. Trustmark's dividend payout ratio (DPR) is presently 25.00%.

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.