Vanguard Group Inc. Sells 111,071 Shares of Trustmark Corporation $TRMK

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Vanguard Group Inc. decreased its position in Trustmark Corporation (NASDAQ:TRMK - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,575,176 shares of the financial services provider's stock after selling 111,071 shares during the period. Vanguard Group Inc. owned approximately 10.81% of Trustmark worth $226,778,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of TRMK. Envestnet Asset Management Inc. lifted its holdings in Trustmark by 4.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 208,316 shares of the financial services provider's stock valued at $7,368,000 after buying an additional 9,475 shares during the period. Bank of Montreal Can acquired a new position in Trustmark in the fourth quarter valued at $235,000. Renaissance Technologies LLC acquired a new position in Trustmark in the fourth quarter valued at $1,887,000. Raymond James Financial Inc. acquired a new position in shares of Trustmark during the fourth quarter valued at about $1,145,000. Finally, Sterling Capital Management LLC raised its holdings in shares of Trustmark by 817.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,918 shares of the financial services provider's stock valued at $68,000 after purchasing an additional 1,709 shares during the period. Institutional investors and hedge funds own 67.64% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on TRMK. 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 report on Thursday, July 24th. Wall Street Zen lowered shares of Trustmark from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Keefe, Bruyette & Woods dropped their price objective on shares of Trustmark from $45.00 to $43.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. 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 report on Thursday, July 24th. Four equities 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, the stock presently has a consensus rating of "Hold" and a consensus target price of $41.00.

Trustmark Trading Down 0.3%

TRMK opened at $38.56 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.86. Trustmark Corporation has a fifty-two week low of $29.77 and a fifty-two week high of $40.73. The firm has a market capitalization of $2.33 billion, a PE ratio of 10.83 and a beta of 0.70. The company's 50-day moving average is $37.09 and its 200 day moving average is $35.60.

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

Trustmark Announces Dividend

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 issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.96 annualized dividend and a yield of 2.5%. 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.

Want to see what other hedge funds are holding TRMK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trustmark Corporation (NASDAQ:TRMK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.