Newport Trust Company LLC Lowers Position in Trustmark Corporation $TRMK

Key Points

• Newport Trust Company LLC reduced its stake in Trustmark Corporation by 2.0% during the first quarter, now owning about 0.80% of the company's shares, valued at approximately $16.6 million.
• Trustmark Corporation's stock recently opened at $38.38, with a market capitalization of $2.32 billion and a price-to-earnings ratio of 10.78.
• The company announced a quarterly dividend of $0.24 per share, reflecting an annualized yield of 2.5%, with the ex-dividend date set for August 29th.

Newport Trust Company LLC lowered its holdings in Trustmark Corporation (NASDAQ:TRMK - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 481,841 shares of the financial services provider's stock after selling 9,819 shares during the quarter. Newport Trust Company LLC owned approximately 0.80% of Trustmark worth $16,619,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Quantbot Technologies LP bought a new position in Trustmark during the 1st quarter valued at approximately $276,000. Wellington Management Group LLP increased its position in Trustmark by 34.2% during the 1st quarter. Wellington Management Group LLP now owns 3,318,799 shares of the financial services provider's stock valued at $114,465,000 after buying an additional 846,238 shares in the last quarter. Russell Investments Group Ltd. increased its position in Trustmark by 10.0% during the 1st quarter. Russell Investments Group Ltd. now owns 9,450 shares of the financial services provider's stock valued at $326,000 after buying an additional 858 shares in the last quarter. Public Sector Pension Investment Board increased its position in Trustmark by 27.0% during the 1st quarter. Public Sector Pension Investment Board now owns 193,437 shares of the financial services provider's stock valued at $6,672,000 after buying an additional 41,087 shares in the last quarter. Finally, Nuveen LLC bought a new position in Trustmark during the 1st quarter valued at approximately $5,697,000. Institutional investors own 67.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TRMK shares. Wall Street Zen lowered Trustmark from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Hovde Group lifted their target price 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 lifted their target price on Trustmark from $39.00 to $43.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Trustmark has an average rating of "Hold" and an average price target of $41.00.

Insiders Place Their Bets

In other news, Director Marcelo L. Eduardo sold 700 shares of the firm'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 transaction, the director directly owned 8,577 shares in the company, valued at $330,128.73. This trade represents a 7.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Gerard R. Host sold 20,970 shares of the firm'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 $807,135.30. Following the completion of the transaction, the director owned 158,360 shares in the company, 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. Company insiders own 1.50% of the company's stock.

Trustmark Stock Up 5.1%

Shares of Trustmark stock traded up $1.97 on Friday, reaching $40.35. The company's stock had a trading volume of 372,263 shares, compared to its average volume of 261,712. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 11.33 and a beta of 0.70. The firm's fifty day simple moving average is $37.43 and its two-hundred day simple moving average is $35.62. Trustmark Corporation has a 52 week low of $29.77 and a 52 week high of $40.73. 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 posted its earnings results on Tuesday, July 22nd. The financial services provider reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.86 by $0.06. The business had revenue of $203.44 million during the quarter, compared to analyst estimates of $200.35 million. Trustmark had a return on equity of 10.81% and a net margin of 19.21%.During the same quarter last year, the company earned $0.66 EPS. Equities analysts anticipate that Trustmark Corporation will post 3.42 earnings per share for the current year.

Trustmark Announces Dividend

The company also recently declared 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. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, August 29th. Trustmark's dividend payout ratio (DPR) 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.