Geode Capital Management LLC Sells 15,482 Shares of Trustmark Co. (NASDAQ:TRMK)

Geode Capital Management LLC trimmed its holdings in shares of Trustmark Co. (NASDAQ:TRMK) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,446,063 shares of the financial services provider’s stock after selling 15,482 shares during the quarter. Geode Capital Management LLC owned about 2.36% of Trustmark worth $51,159,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Barclays PLC increased its position in shares of Trustmark by 124.7% in the third quarter. Barclays PLC now owns 125,743 shares of the financial services provider’s stock worth $4,001,000 after purchasing an additional 69,779 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Trustmark by 6.8% during the 3rd quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider’s stock valued at $19,059,000 after buying an additional 37,989 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Trustmark by 10.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 122,956 shares of the financial services provider’s stock worth $3,912,000 after acquiring an additional 11,934 shares during the last quarter. State Street Corp grew its position in Trustmark by 0.8% in the third quarter. State Street Corp now owns 3,090,988 shares of the financial services provider’s stock worth $98,355,000 after acquiring an additional 24,450 shares in the last quarter. Finally, World Investment Advisors LLC bought a new position in Trustmark in the third quarter valued at $499,000. 67.64% of the stock is currently owned by institutional investors.

Trustmark Stock Performance

Shares of TRMK stock opened at $31.22 on Monday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. Trustmark Co. has a fifty-two week low of $25.41 and a fifty-two week high of $40.73. The company has a market capitalization of $1.90 billion, a P/E ratio of 8.58 and a beta of 0.67. The stock has a 50 day moving average price of $34.99 and a two-hundred day moving average price of $35.57.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.09. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. Analysts expect that Trustmark Co. will post 3.42 earnings per share for the current year.

Trustmark Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from Trustmark’s previous quarterly dividend of $0.23. Trustmark’s payout ratio is currently 26.37%.

Wall Street Analysts Forecast Growth

TRMK has been the subject of several research analyst reports. DA Davidson lifted their price target on Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Janney Montgomery Scott assumed coverage on shares of Trustmark in a research report on Friday, January 24th. They set a “buy” rating and a $42.00 price target on the stock. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Trustmark from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Trustmark has an average rating of “Hold” and an average target price of $40.60.

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.