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 lessened its stake in shares of Trustmark Corporation (NASDAQ:TRMK - Free Report) by 4.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 176,781 shares of the financial services provider's stock after selling 7,993 shares during the period. Rhumbline Advisers owned about 0.29% of Trustmark worth $6,097,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lazard Asset Management LLC bought a new stake in Trustmark during the fourth quarter worth about $47,000. IFP Advisors Inc bought a new stake in Trustmark during the first quarter worth about $51,000. State of Wyoming bought a new stake in Trustmark during the first quarter worth about $52,000. GAMMA Investing LLC raised its stake in 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 buying an additional 526 shares during the period. Finally, Mascagni Wealth Management Inc. bought a new stake in Trustmark in the fourth quarter valued at approximately $82,000. Institutional investors own 67.64% of the company's stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, Director Gerard R. Host sold 1,556 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $40.63, for a total transaction of $63,220.28. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 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 position. The disclosure for this sale can be found here. Insiders have sold 23,226 shares of company stock worth $897,299 in the last three months. 1.50% of the stock is currently owned by company insiders.

Trustmark Stock Performance

Shares of Trustmark stock traded down $0.20 on Monday, hitting $39.98. The stock had a trading volume of 266,681 shares, compared to its average volume of 213,409. Trustmark Corporation has a twelve month low of $29.77 and a twelve month high of $41.33. The business's 50 day moving average is $38.81 and its two-hundred day moving average is $35.96. 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 stock has a market cap of $2.41 billion, a price-to-earnings ratio of 11.23 and a beta of 0.71.

Trustmark (NASDAQ:TRMK - Get Free Report) last issued 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. The business had revenue of $203.44 million for the quarter, compared to the consensus estimate of $200.35 million. Trustmark had a return on equity of 10.81% and a net margin of 19.21%.During the same quarter in the prior year, the business posted $0.66 earnings per share. Analysts forecast that Trustmark Corporation will post 3.42 EPS for the current year.

Trustmark Announces Dividend

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