Bank of America Corp DE Sells 45,345 Shares of Trustmark Co. (NASDAQ:TRMK)

Bank of America Corp DE lessened its position in shares of Trustmark Co. (NASDAQ:TRMK) by 45.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,420 shares of the financial services provider’s stock after selling 45,345 shares during the period. Bank of America Corp DE owned 0.09% of Trustmark worth $1,925,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of TRMK. Barclays PLC raised its stake in Trustmark by 124.7% during the third quarter. Barclays PLC now owns 125,743 shares of the financial services provider’s stock worth $4,001,000 after buying an additional 69,779 shares during the last quarter. Blue Trust Inc. grew its holdings in Trustmark by 19.0% in the fourth quarter. Blue Trust Inc. now owns 5,896 shares of the financial services provider’s stock worth $209,000 after purchasing an additional 943 shares during the period. KBC Group NV grew its holdings in Trustmark by 43.0% in the fourth quarter. KBC Group NV now owns 3,163 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 951 shares during the period. CIBC Asset Management Inc acquired a new stake in Trustmark in the fourth quarter worth $217,000. Finally, New York State Common Retirement Fund grew its holdings in Trustmark by 8.3% in the fourth quarter. New York State Common Retirement Fund now owns 19,513 shares of the financial services provider’s stock worth $690,000 after purchasing an additional 1,500 shares during the period. Institutional investors own 67.64% of the company’s stock.

Trustmark Stock Up 1.3%

Shares of NASDAQ TRMK opened at $34.73 on Wednesday. The stock has a market capitalization of $2.10 billion, a P/E ratio of 9.54 and a beta of 0.63. The company has a 50-day moving average price of $33.88 and a 200-day moving average price of $35.50. Trustmark Co. has a 1 year low of $27.42 and a 1 year high of $40.73. 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) last issued its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.06. The firm had revenue of $231.83 million during the quarter, compared to analysts’ expectations of $195.38 million. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. On average, equities research analysts forecast that Trustmark Co. will post 3.42 EPS for the current fiscal year.

Trustmark Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Friday, May 30th. Trustmark’s payout ratio is currently 25.00%.

Analysts Set New Price Targets

A number of equities research analysts have commented on TRMK shares. Hovde Group raised their price target on shares of Trustmark from $36.00 to $37.00 and gave the stock a “market perform” rating in a report on Monday, April 28th. Wall Street Zen cut shares of Trustmark from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Trustmark from $45.00 to $43.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Trustmark currently has a consensus rating of “Hold” and an average target price 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.