Rhumbline Advisers Has $6.10 Million Stock Holdings in Trustmark Corporation $TRMK

Key Points

• Rhumbline Advisers reduced its stake in Trustmark Corporation by 4.3%, selling 7,993 shares to hold a total of 176,781 shares valued at approximately $6.1 million.
• Trustmark's recent quarterly earnings reported an EPS of $0.92, surpassing analyst expectations of $0.86, with revenue of $203.44 million.
• The company announced a quarterly dividend of $0.24 per share, payable on September 15, which represents an annualized yield of 2.4% and a payout ratio of 26.97%.

Rhumbline Advisers cut its holdings in shares of Trustmark Corporation (NASDAQ:TRMK - Free Report) by 4.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 176,781 shares of the financial services provider's stock after selling 7,993 shares during the quarter. Rhumbline Advisers owned approximately 0.29% of Trustmark worth $6,097,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Lazard Asset Management LLC bought a new stake in shares of Trustmark in the 4th quarter valued at approximately $47,000. IFP Advisors Inc bought a new stake in shares of Trustmark in the 1st quarter valued at approximately $51,000. State of Wyoming bought a new stake in shares of Trustmark in the 1st quarter valued at approximately $52,000. GAMMA Investing LLC increased its holdings in shares of Trustmark by 41.0% in the 1st quarter. GAMMA Investing LLC now owns 1,809 shares of the financial services provider's stock valued at $62,000 after acquiring an additional 526 shares during the last quarter. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of Trustmark in the 4th quarter valued at approximately $82,000. 67.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Trustmark Stock Performance

TRMK stock traded up $0.95 during trading on Thursday, reaching $40.72. 87,525 shares of the company's stock were exchanged, compared to its average volume of 307,703. 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 Corporation has a 1-year low of $29.77 and a 1-year high of $41.33. The company's fifty day moving average price is $38.86 and its 200-day moving average price is $36.01. The firm has a market cap of $2.46 billion, a PE ratio of 11.43 and a beta of 0.71.

Trustmark (NASDAQ:TRMK - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.92 earnings per share (EPS) 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 analyst estimates of $200.35 million. During the same quarter in the previous year, the firm posted $0.66 EPS. On average, research analysts expect that Trustmark Corporation will post 3.42 EPS for the current fiscal year.

Trustmark Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Gerard R. Host sold 1,556 shares of the business's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $40.63, for a total value of $63,220.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Marcelo L. Eduardo sold 700 shares of the business'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 completion of 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 position. The disclosure for this sale can be found here. Insiders sold a total of 23,226 shares of company stock worth $897,299 in the last three months. Company insiders own 1.50% of the company's stock.

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.