Newport Trust Company LLC Has $16.62 Million Stock Holdings 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 decreased its holdings in shares of Trustmark Corporation (NASDAQ:TRMK - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 481,841 shares of the financial services provider's stock after selling 9,819 shares during the period. Newport Trust Company LLC owned approximately 0.80% of Trustmark worth $16,619,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in shares of Trustmark during the 1st quarter valued at about $508,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Trustmark during the 4th quarter valued at about $212,000. Raymond James Financial Inc. purchased a new stake in Trustmark during the fourth quarter valued at about $1,145,000. Deutsche Bank AG lifted its stake in Trustmark by 54.5% during the fourth quarter. Deutsche Bank AG now owns 52,756 shares of the financial services provider's stock valued at $1,866,000 after buying an additional 18,603 shares in the last quarter. 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 valued at $116,000 after buying an additional 2,051 shares in the last quarter. Institutional investors own 67.64% of the company's stock.

Wall Street Analysts Forecast Growth

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

Trustmark Stock Up 0.3%

Shares of NASDAQ TRMK traded up $0.11 during mid-day trading on Wednesday, reaching $40.71. The company had a trading volume of 58,387 shares, compared to its average volume of 314,538. The stock has a fifty day moving average of $37.70 and a two-hundred day moving average of $35.67. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.88. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 11.43 and a beta of 0.70. Trustmark Corporation has a 12-month low of $29.77 and a 12-month high of $40.81.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted 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 during the quarter, compared to analyst estimates of $200.35 million. Trustmark had a net margin of 19.21% and a return on equity of 10.81%. During the same period in the prior year, the firm earned $0.66 earnings per share. As a group, equities research analysts expect that Trustmark Corporation will post 3.42 EPS for the current year.

Trustmark Dividend Announcement

The firm also recently disclosed 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. This represents a $0.96 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, August 29th. Trustmark's dividend payout ratio (DPR) is presently 26.97%.

Insider Activity at Trustmark

In related news, Director Marcelo L. Eduardo sold 700 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $38.49, for a total transaction of $26,943.00. Following the transaction, the director owned 8,577 shares of the company's stock, valued at approximately $330,128.73. This trade represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gerard R. Host sold 20,970 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $38.49, for a total transaction of $807,135.30. Following the transaction, the director directly owned 158,360 shares in the company, valued at approximately $6,095,276.40. The trade was a 11.69% decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

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.