Bridgeway Capital Management LLC Reduces Stock Position in Trustmark Co. (NASDAQ:TRMK)

Bridgeway Capital Management LLC lessened its holdings in Trustmark Co. (NASDAQ:TRMK - Free Report) by 69.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 117,788 shares of the financial services provider's stock after selling 264,271 shares during the period. Bridgeway Capital Management LLC owned approximately 0.19% of Trustmark worth $4,166,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. Jones Financial Companies Lllp acquired a new stake in Trustmark during the fourth quarter worth approximately $37,000. Sterling Capital Management LLC increased its position in Trustmark by 817.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,918 shares of the financial services provider's stock worth $68,000 after buying an additional 1,709 shares in the last quarter. KBC Group NV lifted its stake in shares of Trustmark by 43.0% during the fourth quarter. KBC Group NV now owns 3,163 shares of the financial services provider's stock valued at $112,000 after buying an additional 951 shares during the period. Cibc World Markets Corp acquired a new stake in Trustmark in the 4th quarter worth about $201,000. Finally, Blue Trust Inc. increased its holdings in shares of Trustmark by 19.0% during the 4th quarter. Blue Trust Inc. now owns 5,896 shares of the financial services provider's stock worth $209,000 after buying an additional 943 shares during the last quarter. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Trustmark Stock Performance

Trustmark stock traded down $0.24 during trading hours on Tuesday, hitting $35.96. The company had a trading volume of 65,378 shares, compared to its average volume of 297,875. Trustmark Co. has a one year low of $27.42 and a one year high of $40.73. The firm has a market cap of $2.17 billion, a PE ratio of 9.88 and a beta of 0.63. The firm has a 50-day moving average of $33.58 and a 200 day moving average of $35.68. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86.

Trustmark (NASDAQ:TRMK - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.82 by $0.06. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. The company had revenue of $231.83 million during the quarter, compared to the consensus estimate of $195.38 million. On average, sell-side analysts expect that Trustmark Co. will post 3.42 earnings per share for the current year.

Trustmark Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Friday, May 30th. Trustmark's dividend payout ratio (DPR) is presently 25.00%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Hovde Group lifted their price target on shares of Trustmark from $36.00 to $37.00 and gave the stock a "market perform" rating in a research note on Monday, April 28th. Janney Montgomery Scott assumed coverage on Trustmark in a research report on Friday, January 24th. They set a "buy" rating and a $42.00 price objective for the company. DA Davidson lifted their price target on Trustmark from $40.00 to $41.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods cut their price target on Trustmark from $45.00 to $43.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Trustmark has an average rating of "Hold" and a consensus price target of $39.80.

Trustmark 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.